post office recurring deposit rules

Repeal and Saving:- (1) The Post Office (Recurring Deposits) Rules 1970 are hereby repealed. In the Post Office Recurring Deposit Rules, 1981 (hereinafter referred to as the said rules), in rule 9,- G.S.R. account shall be date of opening of account, Nomination facility is available at the time of opening and also after opening of account. Can be closed after 3 years, only SB rate of interest is permissible. (2) Notwithstanding such repeal, anything done or any action taken under the rules so repealed shall be deemed to have been done or taken under the corresponding provisions of these rules or the Post Office Savings Bank General Rules… (3) Except as specified in the Post Office Cumulative Time Deposit Rules, 1981 and the Post Office Recurring Deposit Rules, 1981, the date of credit in an account of money deposited by the cheque or … Minimum balances in respect of different types of account is given below. Deposit in RD/PPF/SSA/SB Accounts standing in CBS Post Offices. Post Office Small Saving Calculators SIP, RD, TD and Annuity Calculators. But they can withdraw from such account only after a year of opening it up to 50% of the available funds. -> By the guardian in the name of girl child below the age of 10 years. You might also like. 5 Year Post Office Recurring Deposit Account- Scheme & Features. A post office recurring deposit (RD) account can be opened by cash as well as cheque. The Post Office Recurring Deposit Rules, 1981 24 7. *Quarterly interest of SCSS accounts standing at CBS Post offices can be credited in any savings account standing at any other CBS post offices. 1000/- and in multiples of Rs. (1) These rules may be called the Post Office Recurring Deposit (Amendment) Rules, 2016. The balance of PO RD account … 100/- No Maximum Limit. 3/- for each additional thousand or part 10000 deposit), 6.6(Monthly int. Investment under this scheme qualifies for the benefit of Section 80C of the Income Tax Act, 1961 from 1.4.2007. POST OFFICE RD calculator online - Calculate POST OFFICE RD Interest rate using POST OFFICE Recurring Deposit calculator 2021. INR 1000/- grows to INR 1389.49 after 5 years. For minor account, KYC detail of guardian to be submitted . 6.8 % compounded annually but payable at maturity. Company/Local Authority. -> Only one account can be opened in India either in Post Office or in any bank in the name of a girl child. Post Office Saving Account customer to submit duly filled request form in respective Post Office, After enabling desired service in customers Savings Accounts by Post Office, customer will get activation code on his/her mobile within 48 hours to proceed further.. � I��~�~�� z{g��ԩ>2�e��C��m>��B~>m�I��GPDҮ��Y�v��ó�"�q�љ��2��T��/��Z��}\Z��yr��T�9 =#b��'D�7� �CT�^c��!�w��W�6^*�c��Y��&^r��1�d��фq2��D��җC�u0�Άt`��9D��̹@��ܐ��*�zK��dt��}&��g��~��e�ℳ�k��KC�P�o�/�gpy�_��ϑy�.n��{�r�7�8!�fYVMz6�3 ~�%��+��{\�?��҃!Kl� 4@�Į�BB��ZԀ�8Lh�� }f��vBtq��ド�. To open an account [Savings Bank(SB), Recurring Deposit(RD), Time Deposit(TD), Monthly Income Scheme(MIS) SB3, SB103 (pay-in-slip) and specimen signature slip for SB and TD are required.For senior citizen accounts, separate forms are to be used. (d) In extended account with deposits, 1 withdrawal can be taken in each FY subject to maximum limit 60% of balance credit at the time of maturity in the block of 5 years. 1000/- and in multiples of Rs. click here for MCQ on Saving Account Scheme … 10000 deposit), 6.7(Annual Interest R. 687 on Rs. ��#�e�Q!6� z��~�3*oln^��k?މI�Y��yk�e��:ob&��N̓qNm��I;�w�� U��n�u'�c$r�;�1f��aaȃl?��cS/��69!��tb{gw,�d��y_f Cancellation or change of nomination –Rs. Company/Local Authority. Amount Invested doubles in 124 months (10 years & 4 months), KYC Form (For new customer/modification in KYC details)). RD Withdrawal Interest – Clarification Recurring Deposit. It may be noted that if you invest Rs 10 per month in Post Office recurring deposit … (i)Post Office Savings Account Rules 2019, (ii)Government Savings Promotion General Rules 2018, National Savings Recurring Deposit Account(RD), National Savings Recurring Deposit Account Rules 2019 , National Savings Time Deposit Account(TD), National Savings Time Deposit Rules 2019 , National Savings Monthly Income Account(MIS), National Savings (MIS) Account Rules 2019, Senior Citizens Savings Scheme Account(SCSS), National Savings Certificates (VIIIth Issue) (NSC), National Savings Certificate VIII Issue Rules 2019 , Savings Bank Account Discontinued Accounts, Term Deposit Account Discontinued Accounts, Senior Citizens Welfare Fund Rules 2016, National Savings Recurring Deposit Scheme, National Savings Monthly Income Account (MIS), National Savings Certificates (VIII Issue) Account, 4.0% per annum on individual / joint accounts, From 01.04.2020, interest rates are as follows:-. <> The application shall be accompanied by a statement showing particulars of certificates and furnish an indemnity bond in the prescribed form with one or more sureties or with a bank guarantee. Certificate can be encashed after 2 & 1/2 years from the date of issue. Minimum balance to be maintained in an account is INR 500/- , if balance Rs. Presently, an RD account in a Post office has a minimum tenure of 5 years, which means one needs to ensure … On maturity Rs.100/- account fetches Rs.7231.38. Sir/Madam, The undersigned is directed to inform that MoF(DEA) has revised many statutory rules … For SB account introduction is compulsory. 6 Year = 8620.98 7 Year= 10370.17 8 Year= 12223.03 9Year= 14185.73 10Year=16264.76, 7.4(Quarterly interest Rs. RBI/Scheduled Bank/Co-operative Society/Co-operative Bank. Corporation (public/private)/Govt. RD comes handy as it helps to save a fixed amount each month. TD account can be extended by giving an application in account office, Interest shall be payable annually, No additional interest shall be payable on the amount of interest that has become due for payment but not withdrawn by the account holder, The annual interest may be credited to the savings account of the account holder at his option, Premature encashment not allowed before expiry of 6 month, If closed between 6 month to 12 month from date of Opening, Post Office Saving Accounts interest rate will be payable. RD comes handy as it helps to save a fixed amount each month. After 4 regular defaults, the account becomes discontinued and can be revived in two months but if the same is not revived within this period, no further deposit can be made, *If in any RD account, there is monthly default amount , the depositor has to first pay the defaulted monthly deposit with default fee and then pay the current month deposit. It looks a bit complex and so you can use the RD calculator. No premature encasement possible. The Recurring Deposit account is transferable from one post office to the other. b��y�?�+��޾�� Pn:1&*�諍�RN��?�� *4a-uj�3X�5N�Q��͟'��}! Post Office Recurring Deposit (Amendment) Rules, 2016 Thursday, 21, Jan, 2021 टेंशन ना लो, सरकारी वकील बनवा देंगे....इस तरह झांसा देकर 'वकीलों' ने ऐंठ लिए 10 लाख Subsequent deposit can … (W.e.f. The interest rate associated with Post-office recurring deposit is 7.2% per annum (compounded annually). After 5 years only in case of Severe Illness, Higher Education and NRI status. Interest payable annually but calculated quarterly. Job card issued by MNREGA signed by the State Government officer 5. Subsequent deposit in multiple of INR 50/- Deposits can be made in lump-sum No limit on number of deposits either in a month or in a Financial year, Minimum of Rs. In the Post Office Recurring Deposit Rules, 1981 (hereinafter referred to as the said rules… Repeal and Saving:- (1) The Post Office (Recurring Deposits) Rules 1970 are hereby repealed. SB Order No 14/2020 : Waive off penalty/revival fee (Default Fee) in RD/PPA/SSA… Recurring Deposit. (1) These rules may be called the Post Office Recurring Deposit (Amendment) Rules, 2016. became NRI). 1% interest will be deducted from the date of account opening, Deposits qualify for deduction from income under Sec. Remaining offices, HO will revive the accounts.If the balance in the silent account is less than minimum, then INR. 40 for 12 months Rebate will be paid for denomination of Rs. (1) These rules may be called the Post Office Recurring Deposit (Amendment) Rules, 2016. Check POST OFFICE RD rate of interest and calculate RD final amount via POST OFFICE RD Calculator on The Economic Times. The Post Office Recurring Deposit Rules, 1981 24 7. If the interest payable every month is not claimed by the account holder such interest shall not earn any additional interest. Application in the prescribed form or manuscript application may be given by affixing prescribed fee in the form of postage stamp. 10 per month is required, according to the India Post website. It may be repaid in one lumpsum along with interest at the prescribed rate at any time during the currency of the account, Online Deposit facility is available through Intra Operable Netbanking/Mobile Banking, Online Deposit facility is available through IPPB Saving Account, Date of maturity will be 5 years after date of opening. Post office recurring deposit (RD) account opening rules . One account can be opened in one post office. 18 years). 2 per cheque leaf. 10000 deposit), National Savings Certificate (VIII Issue), 6.8(Maturity Value Rs. Post Office Small Saving Calculators SIP, RD, TD and Annuity Calculators. ��. The National Saving Recurring Deposit Scheme 2019 is replacement of existing Post Office Recurring Deposit Rules, 1981. Whether Netbanking /Mobile Banking facilities available in Post Office Savings Accounts ? TDS is deducted at source on interest if the interest amount is more than INR 50,000/- p.a. Account can be transferred from one post office to another, The subscriber can open another account in the name of minors but subject to maximum investment limit by adding balance in all accounts, Maturity period is 15 years but the same can be extended within one year of maturity for further 5 years and so on, Maturity value can be retained without extension and without further deposits also, Premature closure is can be allowed after 5 years from the end of the year in which the account was opened subject to the following conditions. x��]��q?8�Ň$`1~\;��h��w7|��$䐀��?��+ #v�V��H��T?��ޕp�@3�]]�]�_W��z3OBn��om��h��=��O*��6��}�m��f�9�s4O!=gbc��j��ro��V��"��l{�S��?C�j��I?��I�Y��'��pB��R$Ci�Zl}�]�q'�$�o|g\�+��L�j��0�>��ֺɴ>DJ��L�2��B��b6!3C&I�!g��d��ֱ[קmf2^�@��0�l6=t�^)�?��ߞ��(��Z�Dn�f "7Ϗ�\O�V�I{ �a"�"�j��r The Post Office Time Deposit Rules, 1981 41 8. Deposits qualify for tax rebate under Sec. (a) Can take maturity payment by submitting account closure form along with passbook at concerned Post Office. The tenure of the scheme is 5 years and on maturity INR 10/- per month fetches INR 726.97. Premature closure permissible after 3 years - only SB rate is permissible, Premature closure permissible after 6 months, Premature closure permissible after 1 year, Free (Both Financial & Non Financial) with a limit of 5 Financial transactions per day, Financial & Non Financial Transactions - Rs 20 + Applicable GST, Only one account can be opened by an individual as a single account, Only one account can be opened in the name of minor/above 10 years of age (self)/person of unsound mind, In case of death of a Joint holder, the surviving holder will be the sole holder, if surviving holder already has single account in his/her name, Joint account have to be closed, Conversion of single to joint account or vice versa is not allowed, Nomination is mandatory at the time of opening of account, Minor after attaining majority has to submit fresh account opening form and KYC documents of his/her name at concerned Post Office for conversion of the in his/her name, To avail below facilities on your PO Savings Account, kindly download and submit respective form at concerned Post Office. Post office RD offers a very attractive rate of interest of 5.8 % per annum (quarterly compounded). KVP will be issued in the shape of Passbook w.e.f. Post Office Recurring Deposit account provides the facility of saving small sums of money every month to meet future financial … To open an account in Small Savings Schemes viz Savings Account (SB), Recurring Deposit (RD), Time Deposit (TD), Monthly Income Scheme (MIS), Senior Citizen Savings Scheme (SCSS)submit Account Opening Form (AOF) duly filled in with KYC documents and deposit slip(SB 103) in desired Post Office. For this death certificate and consent statements of all legal heirs are required. Designated branches of post offices all over the country offer recurring deposit accounts. How to transfer accounts and certificate? -> KVP may be prematurely closed any time before maturity subject to the following conditions : -. The defaulted months can be credited subsequently (for INR. Note:- Any number of accounts can be opened. -> NSC may not be prematurely closed before 5 years except the following conditions : -. The account can be further continued for the next five years on year to year basis. 1. The Post Office Recurring Deposit is a mid-term savings scheme where depositors are required to park their investments for a minimum of 5 years. You can extend the deposit as per your requirements. How I can get encashment of certificates / account before maturity? Online Deposit facility is available through Intra Operable Netbanking and IPPB Saving Account. Post Office Recurring Deposit Account Interest Rate. 100 Dn. A recurring deposit is a special kind of term deposit offered by banks which help people with regular incomes to deposit a fixed amount every month into their recurring deposit account and earn interest at the rate applicable to fixed deposits. Letter issued by the National Population Register containing details of name and address. Instructions on transfer request based on revised transfer policy guidelines – TN Circle . F. 3/15/81-NS-(II) dated 17.12.1981 and further amended from time to time] G.S.R. In exercise of the powers conferred by section 15 of the Government Savings Bank Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the Post Office Recurring Deposit Rules, 1981, namely:- 1. -> In case of change of resident status of account holder ( i.e. GSR 662(E). 2) Notwithstanding such repeal, anything done or any action taken under the rules so repealed shall be deemed to have been done or taken … (2) Notwithstanding such repeal, anything done or any action taken under the rules so repealed shall be deemed to have been done or taken under the corresponding provisions of these rules or the Post Office Savings Bank General Rules… In case of Cheque, the date of realization of Cheque in Govt. Post Office Small Saving Calculators SIP, RD, TD and Annuity Calculators. NOTIFICATION NO.GSR 320(E) DATED 25-4-2012 . *In case of NSC VIII , transfer of certificates from one person to another can be done only once from date of issue to date of maturity, At the time of transfer of Certificates from one person to another, old certificates will not be discharged. Published vide Notification No. 10 per month is required, according to the India Post website. 01.07.2016. There are no limits to the number of Recurring Deposit accounts that a customer can open. What is the minimum balance required for an account? There shall be only one deposit in the account in multiple of INR.1000/- maximum not exceeding INR 15 lakh. account shall be date of opening of account. View transaction of all linked accounts. 55 on Rs. The application may be given in either of the offices. -> KVP may be transferred from one person to another person on the following conditions only. The transfer application can be given either in transferring office or transferee office. It will be applicable at all CBS Post Offices. Minimum balance to be maintained in respective Post Office Savings Account should be Rs. 5 years. Tax as applicable on the above service charges shall also be payable. Proof of date of birth/birth certificate in case of minor account. 561 on Rs. Monthly deposits … Opening of Recurring Deposit/ Time Deposit account. From 01.04.2020, interest rates are as follows:-, From 01.04.2020 , interest rates are as follows:-. Cheque facility can be taken in an existing account also. An individual of the Age of 60 years or more may open the account. Post Office Recurring Deposit Account (RD) 5.8% p.a compounded quarterly: Time Deposit Account (TD) 5.5% to 6.7% p.a calculated quarterly: Sukanya Samriddhi Yojana (SSY) 7.6% p.a compounded annually: Post Office Monthly Income Scheme (MIS) 6.6% per year payable monthly: Post Office Savings Bank Account: 4% p.a: Senior Citizen Savings Scheme Interest … The rates are subject to review by RBI. For opening a five-year recurring deposit account, a minimum investment of Rs. NOTIFICATION. The initial deposit for opening a post office RD account can be made with both … Minimum INR 1000/- and in multiple of 100. 10 for 6 month and Rs. A Post Office Time Deposit account can be opened against the payment of a minimum ₹ 1,000. The following 10 MCQ is covered all the section of Post Office National Saving Recurring Deposit Scheme 2019. account shall be date of opening of account. Minimum Amount for the opening of post office recurring deposit account: The minimum amount of Rs 10 per month and above in multiple of Rs 5 is required to open an RD. The interest on Post Office Recurring Deposit is compounded quarterly and is computed using the formula below. please visit our facebook page : : click here . No bonus is payable on the deposits made on or after 1.12.2011, Interest shall be payable to the account holder on completion of a month from the date of deposit. National Saving Recurring Deposit Scheme & Rules, 2019. The interest on the deposit compounded quarterly. 100/- denomination is Re. If there is no nomination, any one of the legal heirs can prefer the claim in the prescribed form [SB84]. -> On the death of account holder. The Public Provident Fund Scheme, 1968 68 11. 30/- for first thousand or part You can open an RD account either with a bank or a post office. In this case, the depositor will be required to give a fresh application to the office or bank before the due date on which interest falls due for payment. There is no maximum limit. The Senior Citizen Savings Scheme Rules, 2004 51 10. Issue of statement of account or deposit receipt-Rs. M=R[(1+i) (n-1)]/1-(1+i)(-1/3)) Where, M = Maturity value R = Monthly Instalment [60 for Post office RD] N = number of quarters (tenure) [20 for Post office RD] i = Rate of interest/400 Post Office RD Investment Rules… Fund transfer between Post Office Savings Accounts. Created and Managed by Tata Consultancy Services Ltd. 10 per registration, Issue of cheque book in Savings Bank Account – No fee for upto10 leafs in a calendar year and thereafter at Rs. 50. What is the procedure for the issue of duplicate certificates? Without nomination ( up to 5 Lakh ) :- Submit claim form, death certificate, Annexure-I (Letter of Indemnity) , Annexure-II(Affidavit) and Annexure III (Letter of disclaimer of affidavit) with KYC documents of claimant,deponents, witnesses, sureties etc. Application in the prescribed form or manuscript application may be given. Issue of cheque book in Savings Bank Account – No fee for upto10 leafs in a calendar year and thereafter at Rs. 1. Recurring Deposits by Post-Offices provide an investment option wherein the investors can make monthly deposits for a period of 5 years. For revival, one application from the customer with KYC documents is required. A legal Guardian/Natural Guardian can open account in the name of Girl Child. 746.53. , If you have registered under any of the following category, you need to sign-in as registered user, National Savings Recurring Deposit Account, National Savings Certificate (VIIIth Issue). Are there any charges for the use of ATM Card ? Legal evidence (Probate of will, Letter of administration, Succession certificate) :- Submit Claim Form, Legal evidence and Death certificate with KYC documents. View/Print of transaction details of all Small Savings Schemes linked account of the customer. The Senior Citizen Savings Scheme Rules, 2004 51 10. Interest earned is Tax Free up to INR 10,000/- per year from financial year 2012-13, Nomination facility is available at the time of opening and also after opening of account, Account can be transferred from one post office to another. Account can be transferred from one post office to another. Nomination facility is available at the time of opening and also after opening of account. You can also transfer the balance of your RD from one post office to another. For the current quarter (from July 1, 2019), investment in post office recurring deposit fetches a return of 7.20 per cent per annum which is compounded quarterly. In the Post Office Recurring Deposit Rules, 1981 (hereinafter referred to as the said rules), in rule 9,- 10 per registration. The present rates are effective from April 1, 2020. Joint account can be opened with spouse only and first depositor in Joint account is the investor. Post Office 5 year recurring deposit account (PORD) offers an interest rate of 7.3% per annum. Can I withdraw prematurely from my RD account? (2) They shall deemed to have come into force on the 1st day of July, 2017. Individuals can access their Post office recurring deposit and fund their urgent requirements. (For financial &non financial transactions). Passport 2.Driving license 3. Minimum INR. Premature encashment is not permitted (except in case of death and forfeiture)., Metro Cities - 3 free transactions (Both Financial & Non Financial). Note:- Loan can be taken by submitting loan application form with passbook at concerned Post Office. On the occasion of marriage of girl child after age 18. 3. Recurring deposit (RD) is a popular savings scheme. The Kisan Vikas Patra Rules, 1988 84 12. Respective HO will revive the accounts.. 2. (from date of death to date of payment PO Savings Account interest rate will be applicable). (2) They shall deemed to have come into force on the 1st day of July, 2017. stream How to open an account in post office and its requirements? The interest accruing annually but deemed to be reinvested under Section 80C of IT Act. Term deposits of one-five years will fetch interest rate in the range of 5.5-6.7 per cent, to be paid quarterly, while the interest rate on five-year recurring deposit … This deposit matures on a specific date in the future … There is no maximum limit for RD. 5 0 obj 5. For transfer of accounts- the depositor should apply in the prescribed form SB10(b) or manual application. How can I claim payment of deceased account / certificate holder? Are there any charges for the use of ATM Card ? In a Cheque account, minimum balance should be INR. -> The deposit shall mature on completion of five years from the date of the deposit. 2. 500/- Maximum INR. How to open an account in post office and its requirements? The monthly deposits should be credited on any day of the month. In the Post Office Recurring Deposit Rules, 1981 (hereinafter referred to as the said rules), in rule 9,— (a) in the Schedule under clause (a) of sub-rule 1, for the last entries, the following entries shall be substituted, namely:-“From 1.4.14 to 3 1.3.2016 (both dates inclusive) …. Each subsequent monthly deposit shall be made up to 15th day of the month in respect of … When there is no transaction in an SB account continuously for 3 financial years, the account will be treated as silent account.For revival, one application from the customer is required. There is no … After maturity, the account can be extended for further three years within one year of the maturity by giving application in prescribed format. Minimum INR. You can open an RD account either with a bank or a post office. 1000 Dn. Prev Post CCS CONDUCT RULES 1964 FOR IPO EXAM ( IN SHORTS ) Next Post . Interest amount can be credited to SB account and after that from SB to RD is permissible. If the monthly installment is not credited for any particular month, then it becomes a default. Rs. These Recurring … … %PDF-1.4 250/-and Maximum INR. (2) They shall deemed to have come into force on the 1 st day of April, 2016. The interest rates are revised regularly. For the quarter ending 30 September, the annual returns are 5.8% for the … Certificate can be transferred from one person to another and from one post office to another. New duplicated Passbook will be issued by sub post offices only. A prescribed fee for issue of duplicate passbook to be paid. Online Account Opening facility is available through Intra Operable Netbanking/Mobile Banking, Account can be opened by cash/Cheque and in case of Cheque the date of realization of Cheque in Govt. In case of cheque, the date of deposit is the date of presentation of cheque, according to India Post. Can Monthly Income Scheme (MIS) interest be credited to RecurringDeposit (RD) account? Typically, a post office RD is among the most popular savings alternative to traditional fixed deposits and other long-term schemes that are offered by post offices. What are the service charges for outstations Cheque? ), A bonus of 5% on principal amount is admissible on maturity in respect of MIS accounts opened on or after 8.12.07 and up to 30.11.2011. There is no provision. (2) They shall deemed to have come into force on the 1st day of October, 2016. Rd interest rate using Post Office Recurring Deposit ( Amendment ) Rules, 2016 Manual... Post Offices can use the RD account either with a bank or a Office. So you can open be transferred from one Post Office, one application from the date Deposit... Loan can be opened respective Head Post Offices and first depositor in account... Guardian to be paid for denomination of Rs Tax Act, 1961 from 1.4.2007 with IPPB Saving account Rules… in! Of two witnesses credited on any day of April, July, 2017 time ] G.S.R 1988 84.. Death certificate with KYC documents is required accounts.If the balance in all accounts years TD qualifies for issue... With effect from 01-04-2020 ), 6.8 ( maturity value for Rs of..., KVP can be opened up to age of majority ( i.e thereafter at Rs December 2019 1 defaults allowed... Of cheque, the nominee or legal heir than INR 50,000/- p.a INR 50,000/- p.a cheque account, balance! Officer 5 years within one year of the age of majority ( i.e to maximum investment limit adding... For minor account, KYC detail of guardian to be paid or she can open this! Form [ SB84 ] and on maturity INR 10/- upto10 leafs in a year.Deposits. Act, 1961 from 1.4.2007 are there any charges for the amount below INR 1 and! Of INR.1000/- maximum not exceeding INR 15 lakh offers guaranteed returns value for Rs 13! Final amount via Post Office Recurring Deposit is the date of realization of cheque, the account quarterly... Paid for denomination of Rs 100 per month applicable ) looks a bit complex and so can. Guidelines – TN Circle calculator 2021 the use of ATM Card … Post Office and requirements... 12 months Rebate will be paid for denomination of Rs VIII issue ), 6.8 ( value. Of bouncing of cheque, according to India Post website of 21 years what are norms! Of such Savings Schemes are as follows: - Departmental Post Office and its requirements the for! … Post Office Recurring Deposit ( RD ) account opening Rules 1968 68 11 off penalty/revival fee ( default )! Deposit Scheme is a government-backed Scheme that offers guaranteed returns the current rate interest! Rd interest rate will be issued in the prescribed form [ SB84 ] Intra Operable Netbanking /Mobile?. Working day of July, 2017 silent account and how to revive it into a joint account is than! Was opened will revive the accounts.If the balance allowed after one year containing details name... If aadhar is not made available the following document may be transferred from one Post Office Recurring Deposit ( ). Rs for each month of default ) maximum 4 defaults are allowed Deposit shall mature on completion a! The 1st day of October, 2016 Government officer 5 on interest if the interest rates are from! From 1.4.2007 maximum investment limit by adding balance in all accounts and for INR lakh! Three years within one year of the depositor. of July, 2017 deposits be! After attaining majority has to apply for conversion of the age of majority ( i.e is replacement of Post... Td and Annuity Calculators by cash for the amount below INR 1 lakh and INR! Is compounded quarterly and is computed using the formula below any deduction, Single account can be closed completion... Will or succession certificate rate of interest for this Small Savings Schemes linked account of the Income Tax,... ) interest be credited to SB account and Standing Instruction can be taken after the expiry one...