SCSS, NSC, Post office term deposits, RD, MIS: Withdrawing money prematurely? Know rules, interest rates – Senior Citizen Savings Scheme premature closure

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Investors can withdraw their money from post office term deposits after six months. Interest rate: If the post office time deposit is closed after six months and before one year, investors will get the post office savings account interest rate applicable at that time. For the April-June quarter of 2023, the interest rate of the PO savings account is 4 per cent.

If a three-year POTD or five-year POTD account is prematurely closed after one year, the interest will be calculated as two per cent less than the time deposit interest rate (i.e., two or three years) for completed years. For the remaining period of less than a year, PO savings interest rates will be applicable.

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