How to Pay Post Office RD Online?

How to Pay Post Office RD Online?

Post offices in India provide a variety of financial services to Indian people, including insurance and savings plans. Because of the high returns on maturity, post office RD (Recurring Deposit) schemes are popular in the nation. Postal interest rates are routinely reviewed and compounded quarterly, allowing you to increase the earnings on your savings.

A post office RD is usually valid for 5 years. After maturity, you can opt to prolong it for another 5 years. The minimum monthly deposit is Rs.10, and there is no maximum deposit amount.

How Do I Apply for a Post Office RD Online?

The first step is to sign up for post office online services or internet banking in order to register for post office RD online. To enable your internet banking services, follow these steps:

  • Visit the post office nearest to you if you have an active savings 'B' post office account.
  • You must have a valid mobile phone number, email address, and a post office debit card.
  • With your KYC papers, submit a completed application form for the initiation of online services.
  • After 24 hours of verification, online banking is activated.

How Do I Set Up a Post Office RD Login?

To create a post office RD login, follow these steps:

  • Visit the DOP (Department of Post) internet banking page once you've activated your post office internet banking services.
  • Navigate to the "New User Activation" tab.
  • Fill up your name, customer ID, account ID, cellphone number, and email address.
  • Set your post office RD account's login and transaction passwords, as well as the security questions and answers.
  • The user ID is generated automatically and may be used for future transactions.

How Do You Create a Digital IPPB Account?

To open a digital IPPB account, you must first download the IPPB mobile banking app to your smartphone. You may get the software from the Apple Store or Google Play Store and then proceed as follows: 

  • Sign up for a digital savings account by clicking the "Open your Account Now" link.
  • Fill out the form with your basic information, PAN, and Aadhaar number. Please enter the phone number associated with your post office account.
  • Enter the account number and the client ID. You will receive an OTP to your RMN or Registered Mobile Number, which you must input. 
  • You must first set your MPIN before you can use your app.

How to Pay Postal RD Online?

Once your IPPB app is operational, you may Pay Post Office RD online: To do so, follow these steps:

  • Money should be sent from your savings account to your IPPB account.
  • Select the "Recurring Deposit" option from the "DOP Products" section.
  • Enter your post office customer ID as well as your RD account number.
  • Enter the RD installment amount and term.
  • When you make a successful payment using the IPPB app, you will receive a payment confirmation notice.

NOTE: The post office RD plan allows investors to make modest monthly investments. You are entitled to a tax exemption on these deposits under Section 80C of the Income Tax Act of 1961. If you want to save through regular monthly installments, the post office RD program is for you.

Q. Can I create an online post office RD account?

Ans. No, you cannot open an RD account at the post office online. To open an account, go to the local post office. You can only use the IPPB app to make online RD payments.

Q. Is RD from the post office tax-free?

Ans. The primary amount put in the post office RD plan is tax deductible. Section 80 C of the Indian Income Tax Act provides for certain benefits. The RD interest is taxed under "Income from Other Sources" at the relevant income tax slab rates.

Q. Is it possible to obtain my post office RD statement online?

Ans. You may download your post office RD statement by logging into your digital post office account. You must take the following steps:
  • Enter your customer ID and password to access your account. 
  • On the website, go to the 'Accounts' area and select 'Savings Account.' 
  • Navigate to the 'Transaction History' tab.
  • Choose the statement period and then click 'Download Your Statement.'

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