Recurring Post Office deposit is typically a 5 year deposit, with equal 60 monthly installments. The current interest rate is 7.50% which is compounded quarterly.
To enter transactions for this deposit, Double click the Post Office Icon and the PO Investment form will open up.
You need to create one name in Post Office category, for e.g. ‘Post Office Recurring Deposit’
For the first time, you need to provide the details like interest rate, 7.5%, Interest type: Cumulative and Interest Payment: Quarterly. You can provide the maturity date, which is after the 5 years from the first investment date.
Now, you can start entering transactions for this Recurring FD. Enter the first date of investment and the amount.
Now, for entering subsequent transactions, Click on Invest/Withdraw button next to Post Office or Double Click the Post Office Icon on the left hand side.
Select the transaction type as ‘Investment’ and select the same asset, ‘Post Office Recurring Deposit’ and enter the second transaction.
You can continue to add all the subsequent transactions for this Recurring Deposit. You will see the maturity value as well as current value for this deposit in the summary screen.