This post office RD calculator shows how much your recurring deposit will be worth after 5 years. Type your monthly deposit and the calculator uses the current post office RD rate, compounded every quarter. pincodeoffice.com is an independent site, not India Post. For official rules, see the India Post website.
How the post office recurring deposit works
A recurring deposit in post office, or RD, lets you save a fixed amount every month. You pay the same amount for 60 months. At the end of 5 years you get all your deposits back with interest. Interest is added every quarter, so your interest also earns interest. The RD rate of interest in the post office is fixed on the day you open the account. It does not change for your account even if the government changes rates later. So the RD interest in post office accounts is known from day one. That is why an RD calculator post office savers use can show the maturity value in advance. See the current rate on our post office schemes page.
Post office RD rules
- Minimum deposit: Rs 100 a month, then any amount in multiples of Rs 10.
- Maximum deposit: no upper limit.
- Tenure: 5 years, which is 60 monthly instalments.
- Who can open: any adult, up to three adults jointly, or a guardian for a minor. A minor aged 10 or above can also open one.
- Documents: Aadhaar and PAN, with photos and the account form.
- Payment: cash, cheque or from your post office savings account. Paying 6 or more instalments in advance can earn a small rebate.
Missed instalments
If you miss a month, you pay the missed amount plus a small default fee of Re 1 for every Rs 100 when you deposit next. If you miss four instalments in a row, the account becomes discontinued. You can revive it within two months by paying all dues. After that, no more deposits are accepted. Ask at your post office for the exact rules on your account.
Loan against an RD account in the post office
After you have paid 12 instalments and the account is one year old, you can take a loan of up to 50% of the balance. Interest on the loan is a little higher than the RD rate. You can repay it in one go or in monthly parts. Any unpaid loan and interest is cut from the maturity amount.
Premature closure of a post office RD
You can close an RD early only after 3 years from the date of opening. When you do, the account earns only the post office savings account rate, not the RD rate. So it is best to keep the RD for the full 5 years if you can.
At maturity, you can also extend the RD for another 5 years. The extended account earns the rate that applied when the account was first opened.
Tax on RD interest in the post office
The RD does not give any deduction under Section 80C (Section 123 under the new Income-tax Act). The interest you earn is taxable. Add it to your income and pay tax as per your slab. If your total income is below the taxable limit, ask the post office about Form 15G or 15H.
Worked example: 5 years RD in post office calculator
Take the common case of a post office RD 1000 per month 5 years. You save Rs 1,000 per month for 5 years. You pay 60 instalments, so your own money adds up to Rs 60,000. Type 1000 in the calculator above. It shows the maturity value at the current rate and how much of that is interest. Now try the post office RD of Rs 5,000 per month for 5 years. Your deposits come to Rs 3 lakh. Because interest compounds every quarter, the interest grows faster in later years. For a post office RD 3000 per month 5 years, your deposits total Rs 1.8 lakh, and the calculator shows the matching maturity amount.
The calculator assumes you pay every instalment on time. Post office passbook figures can differ by a few rupees because of rounding.
You can use this post office recurring deposit calculator as often as you like to compare amounts before you visit the counter. Like any RD calculator in post office terms, it only works out the numbers. The account itself is opened at the post office.
How to open an RD account in the post office
- Visit any post office with Aadhaar, PAN and two photos. Use our pincode of my location tool to find the nearest one, and check the post office timings.
- Fill the RD account opening form and add a nominee.
- Pay the first instalment in cash or by cheque.
- Collect your passbook. Pay each month before the due date.
If you have an India Post Payments Bank account linked to your post office savings account, you can also pay RD instalments from your phone. Read more about the India Post Payments Bank.