Money invested every month in a Post Office National Savings Recurring Deposit Account (RD), also known as the Five-Year Post Office Recurring Deposit Account, grows at a government-decided rate of interest compounded quarterly.
A post office RD account can be opened against the payment of the initial amount in cash or cheque.
Subsequent deposits are required to be made by the 15th day of each month in case the account is opened in the first fortnight or between the 16th day and the last working day of the month if opened in the second.