Post Office FD Rules: The Finance Ministry has changed the rules for pre-mature withdrawal of Post Office FD Scheme. We are giving you information about the new rules.
Post Office Fixed Deposit Rules: Post Office keeps offering many types of savings schemes. The name of one such scheme is Post Office FD Scheme or Time Deposit Scheme. Recently the Finance Ministry has made major changes in the FD scheme of the post office. For this, a notification has also been issued by the ministry on November 7, 2023. According to this, there have been major changes in the rules of pre-mature withdrawal in the FD scheme of the post office. If you are also thinking of investing in post office time deposit or FD scheme, then we are giving you information about the changed rules of this scheme.
Change in pre-mature withdrawal rules of Post Office FD Scheme
According to the notification issued by the Finance Ministry, after November 10, 2023, premature withdrawal can no longer be done in the five-year FD scheme before the period of four years, i.e. premature withdrawal of 5-year post office FD is now only 4 years. Will be done after the tenure of. Apart from this, if you invest in FD scheme of one year, two years and three years, if you withdraw the money within 6 months to 1 year of investment, then you will get the benefit of the interest rate of Post Office Savings Account which is the same as in the FD scheme. It will be very less.
Whereas if you withdraw money after 1 year of investing in FD scheme of two and three years, then you will get the benefit of 2 percent less interest than the fixed interest rate of FD. Whereas if you opt for a five year FD scheme, you will get the benefit of interest rate as per the post office savings account between the period after four years and before five years.
What are the old withdrawal rules of post office?
It is noteworthy that according to the rules, only the old rules will be applicable on post office FD accounts opened before November 10, 2023. There is no withdrawal facility for six months in your post office FD account opened till 9th ​​November. In such a situation, as per the old rules, there is no facility of withdrawal within six months of investment.
Whereas after six months, before the completion of the period of one year, two years, three years or five years, if you make premature withdrawal, you will get the benefit of only the interest rate of the savings account as per the month of the deposit. Whereas if you make pre-mature withdrawal after four years in a five-year FD scheme, then in such a situation you will get the benefit of a three-year FD scheme.
