Post Office FD is also called Time Deposit. You can deposit money in post office time deposit for 1,2,3 and up to 5 years. At present, if you invest money in the post office time deposit scheme for 5 years, then you will get interest at the rate of 7.5 percent.

Suppose you invest Rs 5,00,000 in post office FD, then after 5 years at 7.5%, you will get Rs 2,24,974 as interest on it. Including principal and interest on maturity, a total of Rs 7,24,974 will be received.

But if you want to double this amount, then you do not have to withdraw this amount after maturity, but you have to fix it again for 5 years. After 5 years, according to the current interest rate, interest of Rs 3,26,201 will be added on this. In this way, you will get Rs 5,51,175 only as interest on an investment of Rs 5 lakh and after 10 years you will get a total of Rs 10,51,175.

This is the current interest rate according to the year

Fixed for 1 year – 6.8%
Fixed for 2 years – 6.9%
Fixed for 3 years – 7.0%
Fixed for 5 years – 7.5%

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This has been told by issuing a circular from the Reserve Bank. RBI takes many major decisions from time to time keeping in view the condition of the banks. Let us tell you that now on which banks RBI has banned and why.

Will be able to withdraw only 5000 rupees from the account

Reserve Bank has imposed many restrictions on certain co-operative banks in view of their worsening economic condition. This action has been taken against 5 banks, out of which customers of 2 banks can withdraw only up to Rs 5000 from their accounts. Please tell that this ban will remain in force for the coming 6 months.

Which banks are banned?

RBI has imposed restrictions on Urvakonda Sahakari Municipal Bank, Urvakonda (Ananthapur District, Andhra Pradesh) and Shankarrao Mohite Patil Sahakari Bank, Akluj (Maharashtra) Bank, due to which withdrawal of only Rs. will be able to do.

Bank will also not be able to give loan, apart from this, these banks will not be able to renew any kind of loan or advances. The bank will also not be able to make any kind of investment. Also, both the banks will not be able to enter into any agreement or sell or transfer their property.

RBI issued circular

In the circular issued by RBI, it has been told that banks will continue banking business with restrictions till their economic conditions improve. Whereas, due to the current cash position of HCBL Sahakari Bank, Lucknow (Uttar Pradesh), Adarsh ​​Mahila Nagari Sahakari Bank Maryadit, Aurangabad (Maharashtra) and Shimsha Sahakari Bank Regular, Maddur, Mandya (Karnataka), customers of these banks may withdraw Rs. Will not be able to withdraw.

Customers will get 5 lakh

RBI said that the eligible depositors of the five co-operative banks will be entitled to receive deposit insurance claim amount up to Rs 5 lakh from the Deposit Insurance and Credit Guarantee Corporation.

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New Contributory Pension Scheme: In view of the restoration of the old pension scheme for government officers-employees by the Chhattisgarh government, the final withdrawal of the new contributory pension scheme has been put on hold.

New Contributory Pension Scheme: In the instructions issued by the Finance Department, it has been said that after the implementation of the old pension scheme by the state government, it is unfair to withdraw under the contributory pension scheme.

It is noteworthy that the Chhattisgarh Government has decided to implement the old pension scheme in place of the new Contributory Pension Scheme (CPS) implemented from November 01, 2004. Along with this, instructions have been given to deduct the General Provident Fund from the salary of the government servants for the month of April as per rules.

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How can you get this amount deposited in your account? Know the whole process.

Poor will get overdraft

This scheme of the central government is like a boon for the poor. The biggest feature of this scheme is that you can apply for overdraft on your account. Any account holder can take advantage of the overdraft facility, but for this, you will have to contact your bank manager. Overdraft facility is a type of loan. After contacting the branch, the bank can give you an overdraft, which you can easily withdraw with an ATM card or UPI.

Interest is to be paid on a daily basis in the overdraft facility. If you deposit the payment again in OD, then you do not have to pay interest on that amount. Earlier, the bank used to provide overdraft facility of Rs 5 thousand in PM Jan Dhan accounts. Now it has been increased to 10 thousand rupees. To take advantage of overdraft, your Jan Dhan account should be at least 6 months old.

open account like this

You can open an account under this scheme of the government. For this you will just need Aadhar card and PAN card. In this scheme, the account of children above the age of 10 years can be opened. On opening the account, the account holder gets a Rupay debit card. You also get an insurance cover of Rs 2 lakh on this card. Along with this, a life insurance cover of Rs 30,000 is also given.

Millions of accounts opened so far

In this scheme of the government, accounts of 46.25 crore beneficiaries have been opened so far. The number of accounts under this scheme in March 2015 was only 14.72 crore. At the same time, by 10 August 2022, the number of these accounts has increased three times to 46.25 crores.

The post Jan Dhan Account: You can withdraw 10 thousand rupees from Jan Dhan account at any time, know the whole process here first appeared on Rightsofemployees.com.

Knowing whom you will also have no place for happiness. Under the new rule, if you need money, then EPFO ​​you can get the benefit of one lakh rupees (PF withdrawal rule). The good thing is that you will not even need to provide any documents in this process. Let us tell you that on behalf of EPFO, salaried people are being given the facility to withdraw one lakh rupees under advance claim. The purpose of the government behind the change in the rules is only that the patient can get immediate benefits.

Actually, EPFO ​​believes that due to dangerous diseases, many times the patient needs immediate hospital. in order to save his life. Just to save the lives of these patients, EPFO ​​has started this facility. However, to take advantage of this, the patient of the employee claiming you should be admitted to the Government / Public Sector Unit / CGHS Panel Hospital. At the same time, if you have been admitted to a private hospital in an emergency, then an investigation will be done about it. Only after that you can fill the application for medical claim.

Due to serious illness, you can withdraw one lakh rupees in advance from EPFO ​​account immediately. If you are applying on working day then your money will be transferred to the account the very next day. This money can be transferred either directly to the employee’s account or to the hospital. After this, you have to submit the medical slip within 45 days of your discharge from the hospital.

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