CreditMantri Finserve Private Limited
Door No.3, Block B, No. 147, Workeasy Space Solutions, RK Swamy Centre, Hansa Building, Pathari Road,Thousand Lights, Chennai, Tamil Nadu600006
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National Savings Recurring Deposit Account (RD)
Minimum Deposit Amount
Rs. 100 per month
Maximum Deposit Amount
No maximum limit
From 01.04.2020, the interest rate is at
5.8 % per annum (compounded every quarter)
Available after completing 3 years of payment
The National Savings Recurring Deposit Account is a very popular savings scheme among post office customers. This scheme allows for monthly savings to create a corpus 5 years down the line.
Owing to the very low investment amount, many low-income earners are able to take advantage of this scheme and save for their future needs.
One of the reasons for their attractiveness is the competitive interest rate and significant benefit upon maturity. The post office RD interest rates are updated on a regular basis, and the latest interest rate is 5.80% p.a. The interest is compounded quarterly, allowing the money invested to grow until maturity.
About National Savings Recurring Deposit Account
Any number of RD accounts can be opened by an individual. This account can be opened by –
In case of death of the account holder during the term of the investment, the legal nominee or beneficiary can claim the maturity amount. After the claim is approved, the nominee/legal heirs may continue the RD account until maturity by sending an application to the relevant Post Office.
Yes, you can take a loan on your RD Account. Here is how:
The Indian Postal System is the backbone of mails and parcels across the country. It was one of the most widely used public service system a few decades ago. Leveraging this facility, the government introduced various savings schemes to enable the underprivileged section of the society to save systematically.
Post Office Savings Bank Account, Post Office Term Deposits, Post Office Recurring Deposits, National Savings Certificate (NSC), Kisan Vikas Pata (KVP), and the latest Sukanya Samriddhi Yojana (SSY), are some of the popular savings schemes offered through India Post Offices.
1. What is the interest rate on National Savings Recurring Deposit Account?
The current interest rate is 5.8%. This is reviewed and changed periodically.
2. What are the minimum and maximum investment amounts for National Savings Recurring Deposit Account?
The minimum investment amount is Rs.100 and more can be invested in multiples of Rs.10. There is no limit on the maximum amount one can invest.
3. What is the tenure of the National Savings Recurring Deposit Account?
The maximum tenure of this savings scheme is 5 years (60 Months).
4. Can I close this account prematurely?
Yes, once you have invested continuously for 3 years from the date of account opening you can apply for premature closure of the account.
5. Can a nominee or beneficiary get the maturity proceeds in case of death of the account holder before the maturity date?
Yes, if the account holder dies before the maturity of the scheme, his legal nominee or beneficiary can claim the investment proceeds.
Kisan Vikas Patra
Post Office Interest Rates
Post Office Public Provident Fund Account