Post Office New Update: Interest and withdrawal rules on your account have changed
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Post Office Savings Account: The government has announced some changes for the Post Office Savings Account, including increasing the number of joint account holders and changing withdrawal rules.
If you have opened a savings account in the post office, then some rules are changing for you. The government has announced some changes for post office savings accounts, including increasing the number of joint account holders and changing withdrawal rules. Regarding this, the notification of Post Office Savings Account (Amendment) Scheme, 2023 was issued in July. Let us know what’s changed for you now.
1. Joint Account
Till now you could open a post office savings account in two joint accounts, but now it has been increased to three. The notification in this regard said that in sub-paragraph (1), clause (b) of paragraph 3 of the Post Office Savings Account Scheme, 2019, there will be “maximum three adults jointly” instead of “two adults jointly”. Let it be taken now. Will take.
2. return
The withdrawal form has been changed from Form 2 to Form 3. To withdraw even Rs 50, you will have to show your passbook. That means, to withdraw more than Rs 50, you will have to fill the form, sign it and give it along with the passbook. Apart from this, minimum balance requirement can be imposed on withdrawals through check and electronic methods. That is, if you are withdrawing money through these methods, then this facility will be available only when there is money in your account above the minimum balance limit.
3. interest
Now as per the New Post Office Savings Account (Amendment) Scheme, 2023, “in the Principal Scheme, in paragraph 5, in sub-paragraph (5), for the words “at the end of the month”, the words “at the end of the month” shall be substituted; will be used.
The lowest balance in an account between the 10th day and the end of the month will earn interest at the rate of 4% per annum. This interest will be calculated and paid to the account holder at the end of that year. If an account holder dies, interest on his account will be paid only at the end of the month preceding the month in which the account is closed.
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