Charge For Depositing And Withdrawing Money In Post Office Account? Realize What The Rules Say

Charge For Depositing And Withdrawing Money In Post Office Account? Realize What The Rules Say

As the Post Office Saving scheme is one of its types, which is preferred by many users when they are trying to invest their money. One of the major reasons why it is trusted by most of the users is that the return they get is good as well as their money is secured. As indicated by the new update of India Post, cash withdrawal should be possible just multiple times in a month from the post office. After this, you should pay a 0.05 percent expense every time you perform the transaction. As of late, a notification was given by the public authority requesting a decrease in the financing cost, yet it was removed the following day. 

Rules For Depositing And Withdrawing Money At The Post Office 

1.According to the new update, the village users of the post office can pull out 20 thousand rupees from the postal help branch. Prior to this cut-off was simply up to 5 thousand rupees. 

2.The Branch postmaster will not have the authority to sanction the 50,000 not more than that. Presently conspires like Public Provident Fund, Senior Citizen Saving Scheme, Kisan Vikas Patra, or check with withdrawal. 

3.In the post office, you should keep at any rate 100 rupees, on the off chance that you do not do this, there will be a derivation of 100 rupees for the sake of upkeep. 

4.If you pull out four paise from your saving record in a month, at that point there will be no charge on it. Yet, after this, you should pay 25 rupees or 0.50 percent of the removed sum. 

5.If you store up to 10 thousand rupees in your record, at that point you will not need to pay any charge. Yet, the sum kept on it will be charged at any rate of 25 rupees. 

6.There will be no energize for pulling out to 25 thousand rupees in a month from reserve funds and money account, yet after that, you should pay 25 rupees or 0.5 percent cash.

Image Credit: Wealthpedia

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