Post Office Savings Scheme
Open a Post Office savings scheme - Recurring Deposit (RD), Time Deposit (TD), or Monthly Income Scheme (MIS) - at your nearest India Post office, or manage an existing one via the DOP (India Post) internet banking portal/app.
Required Documents
Step-by-Step Process
Choose the Right Scheme
Compare RD (monthly small savings for 5 years), TD (fixed lump-sum deposit for 1-5 years), and MIS (lump-sum deposit paying fixed monthly interest) based on your savings goal.
Visit Your Nearest Post Office
Collect the account opening form for your chosen scheme from the counter or download it from indiapost.gov.in in advance.
Submit Application with KYC Documents
Fill the form with nominee details and submit it along with your ID/address proof and photographs at the counter for verification.
Deposit the Opening Amount
Pay the minimum opening deposit (cash, cheque, or transfer from a linked Post Office Savings Account) as per the scheme's minimum limit.
Collect Passbook and Enable Online Access
Collect your account passbook, and if you also hold a Post Office Savings Account, register for DOP internet/mobile banking to view and manage the scheme online.
Pro Tips & Warnings
- MIS and TD interest is fully taxable, and RD/TD under 5 years qualifies for Section 80C deduction only for the 5-year TD - check current rules before choosing for tax planning.
- Set up standing instructions from your linked savings account for RD so monthly instalments aren't missed and penalty interest doesn't accrue.
- Interest rates on all small savings schemes are revised quarterly by the government - check the latest rate before opening or renewing.