Tuesday, 20 March 2018

If you are saving in a post, then know these rules

If you are saving in a post, then know these rules

Utility Desk: Post office operates a number of schemes for investors. Currently 9 investment schemes are being run by the post. These plans include Post Opus Saving Account, 5-year Post Office Recurring Deposit (RD), Post Office Time Deposit Account (TD), Post Office Monthly Income Scheme Account (MIS), Senior Citizen Savings Scheme (SCSS), 15 year public provident fund PPF), 5-year-old National Savings Account (NSC), Kisan Vikas Patra and Sukanya Samity Account. Due to the income tax benefits and attractive interest rates, these plans are so popular among the people. Let us know some of the important things connected with these schemes ....

It does not matter that the minimum balance requirement is only applicable to the general banks. These same rules and conditions apply to all plans of the post office. According to the India Post website, the inevitability of minimum balance is also applied here.

Learn how Minimum Balance should be

Savings Bank (Check Account): Minimum 500 Rupees Balance.

Savings Bank (without check account): Minimum balance of Rs. 50

MIS: Minimum Rs 1500 Balance.

Term Deposit (TD): Minimum balance of 200 rupees.

PFF: Minimum 500 rupees balance.

Senior Citizen Savings Schemes: Minimum Rs. 100 Balance.

There is also a Dili Vibril limit

Daily ATM Cash Vibril Limit: Rs 25000

Transaction Cash Vendor Limit: Rs 10,000

ATM Transaction

Charges incurred on transaction of Post Office ATM: It is usually free, you can do 5 transactions every day without any charge.

Free Vibrillas from ATMs from other banks: three in metro cities and up to 5 in non-metro cities

Charges for crossing Viadrol's limit: Rs 20 per transaction and GST is levied on Financial and Non Financial Transaction.