How to Pay Post Office RD Amount Online?

Indian citizens can obtain a variety of financial services from post offices in India, including insurance and savings plans. A post office recurring deposit (RD) scheme is a preferred investment for many individuals because of the attractive returns it offers upon maturity.

In order to increase the returns on your deposits, post office interest rates are often updated and compounded every three months.

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 Post offices generally offer recurring deposits for five years. After maturity, you have the option of retaining it for an additional five years. There is no maximum deposit amount; the monthly minimum deposit is Rs.100. If you want to know the process involved in paying post office RD instalments online, continue reading.  

Process to Register for Post Office RD Online 

To register for a post office recurring deposit online, you must first register for internet banking or post office online services. The steps to activate your bank's internet banking services are as follows: 

Step 1:If you have a savings ‘B’ post office account that is open, go to the nearest post office. 

Step 2: A post office debit card, valid mobile number, and email address are required to proceed.

 Step 3:Start online services by submitting a completed application form along with your KYC documents. 

Step 4:Internet banking is activated 24 hours after verification. 

Process to Log into Post Office RD 

The steps to create a post office recurring deposit log-in are mentioned below:

 Step 1:Go to the Department of Post (DOP) internet banking page after activating your post office internet banking services.

 Step 2:Click the ‘New User Activation’ option. 

Step 3:Enter the requested details such as your name, mobile number, customer ID, email address, etc. 

Step 4:Create the login and transaction passwords.  

Step 5:Set up the security questions and answers.  

Step 6:You can use the user ID, which is generated automatically, for upcoming transactions. 

How to Open Digital IPPB Account 

To open your digital India Post Payments Bank (IPPB) account, you must first download the IPPB mobile banking app. After downloading the app, follow the steps mentioned below:

 Step 1:Open a digital savings account by clicking the ‘Open your Account now’ link. 

Step 2:Enter your PAN, Aadhaar, and contact information. 

Step 3:Enter the mobile number linked to your post office account.  

Step 4:Type in the account number and customer ID.

 Step 5:An OTP will be sent to your registered mobile number. Enter the OTP. 

 Step 6: After setting your MPIN, you can begin to use your IPPB account.  

Process to Pay Post Office RD Online 

Upon activation of your IPPB account, you can make post office RD payments online by following these steps: 

Step 1:Transfer money to your IPPB account from your savings bank account. 

Step 2: Choose ‘Recurring Deposit’ under the ‘DOP Products’ tab.  

Step 3:Enter your recurring deposit number as well as your customer ID.  

Step 4: Enter the RD instalment's period and amount. 

Step 5:After the payment is done, a payment confirmation notification will be sent to you.  

Steps to Download Post Office RD Statement 

The steps to download your post office RD statement are mentioned below: 

Step 1: Use your customer ID and password to log in to your account. 

Step 2:Click on the ‘Savings Account’ option on the website's ‘Accounts’ page. 

Step 3: Click on the 'Transaction History' tab. 

Step 4: Click ‘Download Your Statement’ after choosing the applicable statement period. 

FAQs on Post Office Recurring Deposit Amount Online

  • What is the minimum deposit amount to open a post office recurring deposit?

      The minimum deposit amount to open a post office recurring deposit is Rs.100.  

  • What is the interest rate on a post office RD?

    A post office RD offers an interest rate of 5.8%.

  • Can I open a post office recurring deposit online?

    No, a post office RD account cannot be opened online. You can open an RD account by visiting the nearest post office.

  • How can I pay the post office RD amount online?

    You can use your IPPB account to make your post office RD payments online.

  • Is a post office recurring deposit tax-free?

    Tax benefits can be availed on the principal amount deposited in an RD account under Section 80 C of the Indian Income Tax Act. The interest earned on a recurring deposit is subject to tax as per the prevailing income tax slabs and rates.

  • Can I extend my post office RD for another five years?

      Yes, you can extend your post office RD for another five years by submitting an application to the concerned post office. 

  • Can I close my post office RD before maturity?

    Yes, you can close your post office RD three years after the account opening date.

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