Deposit minimum balance in savings account by December 11, otherwise service charge will have to be paid

Now you have to deposit a minimum balance of 500 rupees by December 11 in the post office savings account
Under this saving account you get an annual interest rate of 4%.

If your saving account is in the post office, then this news is very important for you. The post office has changed the rules of saving accounts. Under this, you will now have to deposit a minimum balance of 500 rupees by December 11 in a post office savings account. If not done before December 11, account holders will have to pay the maintenance charge.

Also Read: These important changes are happening from 1 December 2020, after NEFT, RTGS is now 24x7x365

What is the rule now?

According to the post office website, according to the current rule, if the minimum balance of Rs 500 is not maintained till the end of the financial year, then the maintenance fee of Rs 100 is deducted from the account on the last day of the financial year. After deducting fees, if the balance in the account becomes zero then it will automatically close.

Get 4% interest

Under this saving account you get annual interest at the rate of 4%. Interest up to Rs 10,000 is completely tax free. The minimum balance in this account is only 500 rupees. At least 1 transaction in 3 financial years is necessary to keep the savings account in working condition.

Who can open an account?

This account can also be opened in the name of young children. If you are 10 years or older, you can operate it yourself. Together, 2 people can open a joint account. You can also open one or more accounts.

All the facilities available on the Post Office Savings Account are available on the
Post Office Savings Account, including check / ATM facility, nomination facility and intra-operable NetBanking / Mobile banking facility.

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