For the January to March quarter, the government retained stable interest rates for small savings schemes, including the recurring deposit scheme. Every quarter, interest rates of small savings schemes are updated. Through the India Post Payments Bank (IPPB) app, you can deposit money online on your post office recurring deposit account online from the convenience of your home or workplace. Using the IPPB app you can transfer the minimum installment amount into your RD account online without compromising your comfort.
Post Office RD Interest Rate
In the midst of weak bank deposit rates the government has maintained interest rates untouched for the January-March quarter on small savings schemes, including 5-Year Post Office RD. For a minimum deposit of Rs 100 per month or any amount in multiples of Rs 10 with no upper limit the post office RD scheme is currently fetching an interest rate of 5.8% for a maturity period of 5 years.
How to deposit money online in a post office RD account?
The government unveiled the digital payments app DakPay last month. The post office and IPPB customers can also make use of this. In order to transfer money to your RD account follow the below-listed steps:
Step 1: First of all you need to add or transfer money from your bank account to IPPB account
Step 2: Head to the 'DOP Products' section and select 'Recurring Deposit'
Step 3: Now enter your RD account number and DOP customer ID
Step 4: Now opt the installment amount and duration.
Step 5: IPPB will update you of the successful transfer of payment made through the IPPB app
Step 6: Using the basic savings account of IPPB you can go for different post office schemes offered by India Post in order to render monthly installments.