🏦 National Savings Recurring Deposit Account (RD) – Complete Details

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The National Savings Recurring Deposit Account (RD) is a safe and government-backed savings scheme offered by India Post. It helps you save a fixed amount every month and earn guaranteed interest.


📌 Interest Rate

  • 6.7% per annum (compounded quarterly)

💰 Deposit Rules

  • Minimum Deposit: ₹100 per month

  • In multiples of ₹10 thereafter

  • Maximum Limit: No maximum limit

✔ First deposit must be made at the time of opening the account.
✔ Monthly deposits must be made:

  • Before 15th of the month (if account opened before 16th)

  • Before last working day (if opened after 16th)

👤 Eligibility

The following can open an RD account:

  • Resident Indian individual

  • Single adult

  • Joint Account (up to 3 adults)

    • Joint A: Operated jointly by all holders

    • Joint B: Operated by any one holder

  • Guardian on behalf of minor

  • Guardian on behalf of person of unsound mind (Authorised Account)

  • Minor above 10 years (in own name)

  • Any number of accounts allowed (single or joint)

⚠ When a minor turns 18, fresh KYC and new Account Opening Form must be submitted.

✔ Account can also be opened through e-Banking or Mobile Banking (Post Office Savings Account is mandatory for internet banking).

❌ Default Rules

  • If up to 4 monthly deposits are missed:

    • Account can be extended by equal months.

  • If more than 4 defaults:

    • Account becomes discontinued.

    • Can be revived within 2 months after 4th default.

  • Revival Fee: ₹1 per ₹100 of defaulted installment per month.

🚀 Advance Deposit Facility

  • Advance deposits allowed up to 5 years.

  • Rebate Benefit:

    • 6–11 deposits: ₹10 rebate per ₹100 denomination

    • 12 deposits: ₹40 rebate per 12 deposits

💳 Loan Facility

  • Loan up to 50% of total deposits

  • Available after:

    • 1 year completion

    • 12 monthly deposits paid

  • Interest: 2% higher than RD interest rate

  • Can repay in lump sum or EMIs

🔓 Premature Closure

  • Allowed after 3 years

  • If closed even 1 day before maturity → PO Savings interest rate applies.

  • No premature closure if advance deposit period is active.

🎯 Maturity

  • 5 Years (60 Monthly Deposits)

  • Can extend for another 5 years

  • Can retain account up to 5 years after maturity without deposit

⚰ In Case of Death

  • Nominee/Legal heir can claim balance.

  • Can continue account till maturity after settlement.

  • Protected Savings Scheme benefit available in certain cases.

📜 Rules & Regulations

Governed under National Savings Recurring Deposit Account Rules, 2019.
Depositors should refer to official notifications issued by Government from time to time.

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