How Much Commission Does A Post Office Agent Get When You Open A Recurring Deposit?

by Vinaya HS on June 18, 2010

in Finance

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[This one's an FYI post.]

Three percent.

If you open a 5-year Recurring Deposit (RD) at the Post Office through an Agent, the Agent gets a commission of 3% on the amount deposited each month. For a Rs 5,000 per month RD, the Agent’s commission is Rs 150 per month. The good thing though is that this commission isn’t deducted from your depositit’s paid separately by the Post Office to the Agent.




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{ 54 comments… read them below or add one }

KAPIL NATH SHARMA March 12, 2013 at 1:15 PM

I am balsed at Silvassa and need post office agents address in silvassa or vapi to invest in MIS and KVP,Please advise.
Regards,
Kapil

uk June 25, 2013 at 2:55 PM

give me procedure to become Indian Postal RD/MIS/NSC/ppf investment agent at the earliest

M RAMAKRISHNA June 25, 2013 at 3:58 PM

Dear All,

Do not target on the petty Post office RD agents.
They are getting now only 3 percent. next year 2 percent next year 1%
Govt. decided to reduce the commission.

An agent has to canvass, identify the prospective customers, convince, explain, receive and deposit cash to the post office, open account, return books to the customer, monthly visit the customers houses, if they are not available has to come back once again, shed part of commission towards travelling, telephone, stationery, petrol, Income tax, staff salaries, rent, expenses to get back duplicate books if original books are lost, money movement losses, roaming on roads in hot summer also espectially on sundays while all are taking rest as customers are available only on sundays, escaping from MALE GHOST CUSTOMERS ( sex abuse ), clarifying old aged pensioners silly and lenghty doubts, putting own kids in creche, sacrifycing some amounts to post office staff towards petty gifts etc., etc., etc.,

The scheme is sanctioned previously by honourable Government rulers for helping poor and sincere women to stand on their legs and also to promote savings habit.

After grabbing their efforts all thee days, now Govt. decided to reduce their commisson drastically.

Please imagine if salary of a Govt. employee is reduced in 3 years by 25% per a year, expect how they react, how they can survive?

V K Chaudhary August 17, 2013 at 8:15 PM

If a person opens a Monthly Income Scheme for Rs.10000 for 5 years and put the monthly income in the RD for 5 years, will the agent get the commission on this for next 5 years.

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