Post Office Recurring Deposit Scheme (PORD)

The Post Office Recurring Deposit Scheme (PORD) has been a reliable savings option for Indian consumers for many years. Established by the Department of Posts, Government of India, PORD allows individuals to save regularly by making fixed monthly deposits over a predetermined period. Launched with the objective of encouraging disciplined savings and financial planning, PORD offers a secure and convenient way for individuals to accumulate savings over time. The scheme provides flexibility in choosing the deposit amount and duration, making it accessible to a wide range of savers across the country. However, consumers have faced several issues with PORD over time. One significant concern is the relatively low interest rates offered by the scheme compared to other investment options available in the market. This can impact the overall returns for investors, especially during periods of high inflation. Additionally, there have been complaints regarding administrative delays in account opening, premature closures, and maturity payouts, which can cause inconvenience for investors. Moreover, the lack of transparency in communication and the absence of digitalisation in account management processes have been points of contention for some consumers, highlighting the need for potential reforms to improve the efficiency and accessibility of the scheme. Those encountering concerns related to PORD can use our platform to file consumer complaints. With a commitment to providing exceptional Legal service, our team ensures prompt and effective assistance. We support through multiple online channels, and provide complete legal guidance and litigation support.