Premature Closer Rule: In today’s time everyone thinks of investing in such a place from where they can get good returns. The most important reason for this is to get financial help in the coming future.
But there are many people who withdraw the funds even before the maturity of the policy. For which many types of charges have to be paid. Because of which a lot of damage is done. If you are also thinking of withdrawing your funds, then first of all read this news properly and follow the rules of pre-maturity of the scheme.
SCSS Pre-Mature Closure
You can withdraw the funds in Senior Citizen Saving Scheme but know about its interest rates in detail. If the account in the scheme is closed before 1 year, then no interest will have to be paid on it. And if the account is closed after 1 year and before 2 years, then an amount equal to 1.5% of the principal amount will be deducted. If the account is closed after 2 years and before 5 years, an amount equal to 1% of the principal amount is deducted. If you have an extended account, you can close the account after 1 year without any deduction.
Pre-mature closure of Post Office RD scheme
Funds can be drawn out only after 3 years for opening an account in the post office scheme. For the withdrawal of the application, one has to go to the post office and apply. In this scheme, the account holder will get interest on the basis of applicable interest rate.
Post Office Term Deposit Pre-Mature Withdrawal
At the same time, let us tell you that if you close the account after 6 months and before 1 year in the Post Office Time Deposit Scheme, then you will get interest according to the interest rate applicable during that time. The post office savings account interest rate for the April-June quarter of 2023 is 4 per cent. On the other hand, if the 3-year POTD or 5-year POTD account is closed prematurely after 1 year, then the interest rate calculated for the entire year will be less than 2 percent. Interest rates for terms less than 1 year will apply.
Withdraw money from Post Office Monthly Income Scheme
In this post office scheme, you can withdraw the fund after 1 year. 2% of the principal amount will be deducted if the account is closed after 1 year and before 3 years from the date of account opening. The remaining amount will be paid. On the other hand, if the account is closed after 3 years and before 5 years from the date of opening the account, then a deduction equal to 1% will be made from the principal amount.
National Saving Scheme Certificate pre-mature rule
In NSSC scheme, you cannot withdraw the fund for 5 years. Certain conditions have been fixed in this scheme. If either the single account holder or the double account holder dies, then you can withdraw this fund. Funds can also be raised on forfeiture in this scheme.
