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Can I continue to make deposits if I fail to pay installments on time for a few months towards the post office recurring deposit account (RDA)? Are there any extra charges?

In case of default in payment, a default fee is payable toward the account at 20 paise per month of delay, for each Rs.10.

11 Dec 2008

In case of default in payment, a default fee is payable toward the account at 20 paise per month of delay, for each Rs.10. After more than four defaults, the account will be treated as discontinued if it isn't revived within two months from the fifth default.

Premature closure of the post office RDA is permitted only after completion of three years from the date of opening and in such cases, interest is payable as per the rate applicable for the Post Office Savings Bank Account.



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