Know why you should maintain minimum balance in your post office account
Npnews24 : If you are an account holder in the Post Office, then this news is important for you. This year it is necessary to keep the minimum charge in the post office account till December 11. PO Savings Account at least 500 rupees.
It is mandatory to keep. India Post has already informed its customers about this. According to this information, post office account holders have 12 days to maintain at least 500 rupees in their accounts.
In a message sent to its savings account customers, India Post said, ‘Now it is mandatory to maintain a minimum balance in the post office savings account. If you do not want to pay the maintenance charge, then definitely maintain it in your account for Rs 500 before 11 December 2020.
What is the current rule?
According to the official website of India Post, if at least Rs 500 is not maintained in the account by the end of the financial year, then Rs 100 will be deducted as maintenance fees. If there is no balance in the account then it will be closed automatically.
The post office savings account can be opened by an adult either individually or jointly. For minor children, their guardian can also open an account in their name. Only one Post Office Savings Account can be opened in the name of a person. The nomination is mandatory at the time of opening this account.
Rate of interest
At present, interest is being received at a rate of 4 percent on individual and joint post office savings account. The interest received on this account is calculated based on the minimum balance between the 10th and last date of the month. According to the post office website, if the balance in an account is less than Rs 500 during this period, then no interest is paid on it.