Post office savings account: Penalty to be paid for zero balance in the post office savings account, know how much money should remain in the account? 0

Post office savings account: Beware of opening a savings account in the post office. The postal department has changed the rules related to savings account and after the changed rules, if the minimum balance in your savings account decreases, then you will have to pay the penalty on the last day of the financial year. For this you will not have to go to the post office, but your account will be automatically cut.

What is the minimum balance to be kept?

As per the rules changed by the postal department, the minimum balance limit in the post office savings account has been increased from Rs 50 to Rs 500. This means that if you have less than Rs 500 balance in your account, then a penalty of Rs 100 will have to be paid on the last working day of the financial year.

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Know what is the rule?

Actually, if there is a bank account in the banking sector or an account in the post office, then it is determined to keep some money in it. Banks have their own separate rules and the post office has its own. According to the new rules of post office savings account, any customer has to keep at least 500 rupees in his account. Earlier, there was a rule to keep at least 50 rupees left in the account.

4 percent interest is earned annually in savings account

Secondly, if your money does not remain in the savings account of the post office, that is, the balance becomes zero, then there is a danger of closing your account. For this, customers have to take care of this and they must keep a minimum balance of at least 500 rupees in their account. In addition, at present, the individual / joint savings accounts of the post office get 4 percent tax rate of interest every year.

It is necessary to link the account with Aadhaar

Apart from this, if you have not yet linked your account to Aadhaar, then you complete this work soon. It has many advantages. First of all, if your account is linked to Aadhaar, then you can get the benefit of government subsidy directly through your account. For example, if your account is linked to Aadhaar, the gas subsidy money will come directly into your account.

There are many more benefits of opening a savings account in the post office

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@Riasat posted 4 years ago

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