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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.
1. To enter the 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’
2. 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.
3. For entering subsequent transactions, right click on the Post Office investment from the summary screen and select Add Transactions
4. Enter details for the second transaction.
5. 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.