Facebook Instagram Twitter Youtube
  • EMPLOYEES RIGHTS
  • PROPERTY RIGHTS
  • FINANCE
  • SALARY
  • TAX
  • EPF
  • JOB
  • Authors and Team
    • Complaint Redressal
    • Contact US
    • Cookie Policy
    • Correction policy
    • Disclaimer
    • DNPA Code of Ethics
    • Fact-Checking Policy
    • Onwership and Funding
    • Privacy Policy
    • Terms of Service
Search
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
Rightsofemployees.com
- Advertisement -
  • EMPLOYEES RIGHTS
  • PROPERTY RIGHTS
  • FINANCE
  • SALARY
  • TAX
  • EPF
  • JOB
  • Authors and Team
    • Complaint Redressal
    • Contact US
    • Cookie Policy
    • Correction policy
    • Disclaimer
    • DNPA Code of Ethics
    • Fact-Checking Policy
    • Onwership and Funding
    • Privacy Policy
    • Terms of Service
Home FINANCE Post Office Withdrawal Rules: Big change in the rule of premature withdrawal...
  • FINANCE

Post Office Withdrawal Rules: Big change in the rule of premature withdrawal in these top 5 post office schemes

By
Pravesh Maurya
-
January 23, 2023
0
698
Facebook
Twitter
Pinterest
WhatsApp
Telegram
    Post Office RD: Account has been closed due to non-payment of RD installments, can it be restarted?
    Post Office RD: Account has been closed due to non-payment of RD installments, can it be restarted?
    - Advertisement -

    Post Office Withdrawal Rules: Many people in the country prefer to invest in post office instead of bank. Usually, better interest is available in the post office than in the bank. Also, post office investment is safe and gives guaranteed returns.

    - Advertisement -

    Various schemes are run in the post office from ordinary citizens to senior citizens. In such a situation, all the schemes are such that they mature in 5 years. If you want to withdraw money before their maturity, then you will have to bear some loss in the form of penalty. Know about these schemes here.

    Post Office MIS

    In Post Office MIS i.e. Monthly Income Scheme, you have to deposit a lump sum amount for 5 years. Through this, you can get a fixed amount every month for 5 years as income. After 5 years you get your money back. But if you need money before 5 years then you have to pay penalty. If you withdraw money between one year to three years, then 2% of the deposit amount will be deducted and returned. On the other hand, if the account is more than three years old but you want to withdraw money before 5 years, then after deducting 1% from the deposited amount, the deposit amount is returned to you.

    Senior Citizen Saving Scheme

    In this post office scheme also you have to invest for 5 years. The deposit matures after 5 years from the date of opening the account. But if you have to withdraw money from it before five years, then penalty has to be paid. In this, 1.5% of the deposit amount is deducted for withdrawing money before completion of 2 years and 1% of the deposit amount is deducted as penalty for withdrawing money after 2 years.

    Post Office Recurring Deposit Account

    The recurring deposit account of the post office is also for 5 years. Investors of Recurring Deposit Account get the facility of withdrawal after 3 years. On premature withdrawal, you will get the benefit of the rate of interest as per the savings account only.

    Kisan Vikas Patra

    This scheme, which doubles the investment in 124 months, has a lock-in period of 30 months. In this scheme, if you withdraw money before 1 year, then you will not get any interest on it. According to the scheme, the investor will also have to pay a penalty for withdrawing money. Interest will be earned on withdrawing money between 1 year to 2.5 years, but the amount will be reduced. After 2.5 years, if the KVP is broken and the money is withdrawn, then no penalty will be imposed and the return will be given according to the interest rate prevailing at that time.

    Public Provident Fund

    This scheme is of 15 years, but the lock in period is of 5 years. But if after 5 years you can withdraw money with certain conditions and close the account. But 1% interest is deducted from the date of account opening till the date of closure.

    - Advertisement -
    • TAGS
    • Kisan Vikas Patra
    • post office
    • Post Office MIS
    • Post Office Recurring Deposit Account
    • Post office withdrawal rules
    • premature withdrawal
    • Public provident fund
    • Senior Citizen Saving Scheme
    • Withdrawal Rules
    Facebook
    Twitter
    Pinterest
    WhatsApp
    Telegram
      Previous articleBank Account holders: Big news! Bank customers will not be able to withdraw money from ATM. Know what is the reason…?
      Next articleHouse Rent Allowance Rules Change: Big news for employees! Government changed the rules of house rent allowance of employees, Know the new rules applicable
      Pravesh Maurya
      Pravesh Maurya
      https://www.rightsofemployees.com/
      Pravesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @rightsofemployeescom@gmail.com
      Facebook Instagram Telegram Twitter Youtube

      Related ArticlesMore From Author

      FINANCE

      ITR 2025: Tax is levied on these 5 incomes, give necessary information while filing return

      FINANCE

      Senior Citizens Best FD rates, these banks are offering up to 8.50% interest on 3-year FD

      FINANCE

      India Introduces Profession Code 16021 for Social Media Influencers — What Changes in Tax Filing

      Recent Posts

      • ITR 2025: Tax is levied on these 5 incomes, give necessary information while filing return
      • Senior Citizens Best FD rates, these banks are offering up to 8.50% interest on 3-year FD
      • India Introduces Profession Code 16021 for Social Media Influencers — What Changes in Tax Filing
      • 8th Pay Commission: Basic salary will be only Rs 30000, not 18000 to 51000, revealed in new report
      • School Closed: Good news for students.. Holiday announced for Monday and Tuesday

      Read More

      ITR 2025: Tax is levied on these 5 incomes, give necessary...

      July 28, 2025

      Senior Citizens Best FD rates, these banks are offering up to...

      July 28, 2025

      India Introduces Profession Code 16021 for Social Media Influencers — What...

      July 28, 2025

      8th Pay Commission: Basic salary will be only Rs 30000, not...

      July 28, 2025

      School Closed: Good news for students.. Holiday announced for Monday and...

      July 28, 2025

      EDITOR PICKS

      ITR 2025: Tax is levied on these 5 incomes, give necessary...

      July 28, 2025

      Senior Citizens Best FD rates, these banks are offering up to...

      July 28, 2025

      India Introduces Profession Code 16021 for Social Media Influencers — What...

      July 28, 2025

      POPULAR POSTS

      Public holiday: Govt has declared September 17 as a public holiday....

      September 12, 2024

      School Closed: Govt declares all schools closed till January 15 after...

      December 28, 2024

      Govt Declares December 27 as a Public Holiday…Details Here

      December 26, 2024

      POPULAR CATEGORY

      • FINANCE14457
      • TAX733
      • EPF644
      • JOB221
      • PF149
      • PROVIDENT FUND80
      • PROPERTY RIGHTS52
      • EMPLOYEES RIGHTS50
      ABOUT US
      Rightsofemployees.com brings the Latest News & Top Breaking headlines on Politics and Current Affairs. Up-to-date news coverage, aggregated from sources all over the world by Rightsofemployees.com. Find latest news coverage of breaking news events, trending topics, and compelling articles.
      Contact us: rightsofemployeescom@gmail.com
      • Home
      • About us
      • Authors and Team
      • Contact US
      • Cookie Policy
      • Correction policy
      • Disclaimer
      • DNPA Code of Ethics
      • Fact-Checking Policy
      • Onwership and Funding
      • Privacy Policy
      • Terms of Service
      • Complaint Redressal
      © Copyright 2024 - Rightsofemployees.com Izon web Pvt. Ltd. All Rights Reserved. Contact US Izon Web Pvt. Ltd. Hno. 789, Basement, Dlf Phase 4 Sector 43, Gurgaon, Haryana -122009, Call: +91-9110801499, 0124-4941700
      Go to mobile version