The post office in India offers a variety of saving options to the citizens. These savings options are available with every local branch of the post office.
A recurring deposit account is opened for a periodic deposit (monthly) of a certain amount for a specific time duration for the purpose of saving. Post office recurring deposit account can be opened by
The current interest rate offered in Post Office Recurring Deposit Account is 7.2% per annum which is quarterly compounded. This interest rate is effective from 01st July 2019. Upon maturity and completion of 5 years, the account holder will get Rs. 7231.38/- for a deposit of Rs. 100/- per month.