Welcome To Odisha Postal Circle

                  RECURRING DEPOSITE(RD)
Period During Which opened       Maturity Value
(Denomination Of Rs10/-)
From    To
01.10.1991 01.09.1993     856.40
02.09.1993 31.12.1998     833.40
01.01.1999 14.01.2000     811.15
15.01.2000 28.02.2001     789.60
01.03.2001 28.02.2002     758.53
01.03.2002 28.02.2003     748.49
01.03.2003 31.03.2013     728.90
01.04.2013 onwards     744.53
FEATURES:
  • Minimum amount of Deposit is Rs 10/-.No Maximum limit.Deposit should be made every month within the calender moth.Default fee is chargeable for delayed deposit at 0.20P per month of delay,for Rs10 Dn.
  • Maximum Default is allowed in an account is four(4).After four defaults theaccount is treated as "discontinued".Discontinued account can be revived by paying defaulted deposits,within the two months from the fifth default.If it is not so revived,the account cannot be continued.
  • For advance deposits including deposits for current moth,rebate is allowed at the following rates.

               Denomination Rs 10/-

  1. 6 advance Deposits.............Rs1/-
  2. 12 advance Deposits...........Rs4/-
  • Premature Closure is permitted on completion of three(3) years from the date of opening.Interest is to be calculated as per the rules and rate applicable to the individual savings account , at the rate applicable to savings account from time to time is calculated and paid.
  • One withdrawal is permitted from the account on completion of one year from the date of opening,on the conditions that:
  1. At least 12 deposites should be should have been made.
  2. Account should not have been discontinued one.
  3. Amount not exceeding 50% of the balance.
  4. Withdrawal may be repaid in one lump or in equal monthly  installments 
  5. Interest is charged at 8.30%.
  • After maturity of the account ,it can be continued for a further period of 5 years with or without further deposites.During this extended period ,the account can be closed at any time.Post maturity interest is paid at the pescribed rate.
  • Under the protected saving scheme,On the death of depositer before maturity of account,the legal heir is entitled to get full maturoty value,subject to the following conditions:
  1. Age of the depositor at the time of opening should be between 18 and 53.
  2. Benifit limited to the maturity value of Rs 50 denomination.
  3. Account should  not have been as on the date of death.
  4. At least two years have been completed.
  5. At least 24 deposits should have been  made.
  6. For the first 24 months no default should be outstanding.
  7. No withdrawal should have been taken during the first 24 months.
  • Interest earned is exempted as per section 80L of Income Tax Act  .

  RD FORMS:-

              Application for opening of a RD Account   

               RD Deposit Form