Saturday, February 24th, 2024

Government made a big change in the post office FD rule, now investors will not be able to do this even if they want to.


Photo:FILE Post Office Fixed Deposit

Post Office Fixed Deposit The government has made a big change in the rules. According to a notification issued by the Finance Ministry on November 7, 2023, the premature withdrawal rules for post office fixed deposits (also known as post office fixed deposits) have been revised. As per clarification from India Post, 5-year post office FD opened on or after November 10, 2023 cannot be closed earlier than 4 years from the date of opening of the FD. That means, withdrawal of money from 5 year FD can be done only after 4 years. Whereas, for FDs opened till November 9, 2023, the previous rules for premature withdrawal are applicable.

New rules for premature withdrawal from post office FD

The government has amended the premature withdrawal rules for post office FDs of different tenures. The new rules are as follows-

  1. Any post office FD cannot be withdrawn before 6 months from the date of deposit. At the same time, 5 year post office FD cannot be withdrawn before completion of 4 years.
  2. If a 1-year, 2-year or 3-year Post Office FD is withdrawn after 6 months but before one year from the date of deposit, the deposit will earn only Post Office Savings Account interest for that period which is significantly less. will be.
  3. If a 2-year or 3-year Post Office FD is prematurely withdrawn after one year, a penalty of 2% will be deducted from the interest rate applicable on 1-year or 2-year Post Office FD.

Old rules for premature withdrawal from post office FD-

  1. Old rules for premature withdrawal from post office FDs opened on or before November 9:
  2. Money cannot be withdrawn from any post office FD before the expiry of 6 months from the date of deposit.
  3. If 1 year, 2 years, 3 years or 5 years post office FD is withdrawn after 6 months but before one year from the date of deposit, then post office savings account interest will be given.
  4. If a 2-year, 3-year or 5-year Post Office FD is broken after 1 year, a penalty of 2% will be deducted from the interest rate applicable on 1-year, 2-year or 3-year Post Office FD.

Latest Business News



Whatsapp GroupJoin
Telegram channelJoin

Pakistan lost oil due to cheap Russian petrol, refineries gave up

New Delhi: India is getting cheap crude oil from Russia. Today, more than 20 lakh barrels of crude oil is coming to the country daily from Russia. Seeing this, Pakistan also decided to wash...

FD Scheme: This bank is giving highest interest on FD to senior citizens, know how much return they are getting

Latest Bank Fixed Deposit Interest Rate For Senior Citizens: If you are planning to invest in Fixed Deposit. And you yourself are also a senior citizen, so this news can prove to be useful...

This year this auto company will present 19 models of your dreams, electric vehicles will also be included

Photo: File This year this auto company will present 19 models of your dreams. BMW Upcoming Car: BMW is planning to launch 19 car models in India this year. This will also include electric...