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Post Office Rules: Even today, a large population of the country likes to deposit their money in the Post Office Saving Account. You can open a savings account in a post office like a bank. If you also withdraw or deposit money from the savings account of the post office on a regular basis, then this news is useful to you.
The Department of Posts has made a big change in the rules for withdrawing an amount of 10,000 or more from the savings account of the post office. The Ministry of Communications has issued a circular on this matter on 25 August 2022. It states that if a customer withdraws Rs 10,000 or more from his account, then the process of verification will have to be completed.
Verification will not be done at these places
It has been said in the notification that the process of verification at the branch post office has been made mandatory for withdrawals above Rs 10,000. In Single Handed Post Offices, the process of verification has been abolished for withdrawal of more than Rs 10,000. Along with this, it has also been said in this notice that to prevent fraud from the post office account, the circle head can conduct all kinds of investigation under any special circumstances. This will help in preventing banking frauds happening in the post office.
How much money can you withdraw in a day
Apart from curbing banking fraud, the post office has also decided to increase the withdrawal limit from the savings account. Earlier account holders could withdraw only up to Rs 5,000 in a day, which has now been increased to Rs 20,000. At the same time, the Branch Postmaster (BPM) will not accept transactions of more than Rs 50,000 in the account of a customer.
How much interest will be received on savings account
Let us tell you that any citizen of the country can open a savings account in the post office. You can open a savings account with just Rs.500. Customers have to maintain a minimum balance of at least Rs 500 on this account. An interest rate of 4% per annum is available on this account, which is much higher than the savings account of many banks.
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