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Sunday, January 23, 2022

Big news: now both the withdrawal and deposit from the Post Office will be charged, a new rule will be implemented from April 1

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Post office charges: If you have a basic saving account in the post office, then withdrawal is free four times every month. After that, every transaction will incur a minimum of 25 rupees.

The free limit for depositing in a current account is 10 thousand rupees.

The financial year 2021-22 has started from 1 April. There has been a change in many rules in the new financial year, which will have a direct impact on your investment and financial condition. The post office has also made major changes in deposit and withdrawal rules. Withdrawal rules and withdrawal limits have now been fixed. Charges will be deducted on every transaction for withdrawals and deposits in excess of the limit. Let us know in detail about the new rules applicable from 1 April.

If you have a basic saving account in the post office, then withdrawal is free four times every month. After that, a minimum of 25 rupees or 0.50 per cent of the value will be deducted as a charge on every transaction. There will be no charge for depositing in Basic Saving Accounts. If you have a savings (except basic savings account) or current account, then withdrawal of up to 25000 thousand is free in a month. After crossing the limit, 0.50 per cent of the value or at least 25 rupees will have to be paid on every transaction. There is also a limit to deposit in the current account. Up to 10 thousand rupees can be deposited in this account every month for free. For depositing more than that, 0.50 per cent of the value or at least 25 rupees will have to be paid as transaction charge.

How is charge charged on Aadhaar-based transactions?

Talking about Aadhaar based AEPS transactions, any number of transactions can be done on India Post Payment Bank’s network and it is completely free. Three transactions a month are free on non-IPPB networks. This includes depositing cash, withdrawing and withdrawing mini statements. After that the charge will be deducted on the transaction. After the free limit is completed, all transactions will be charged Rs 20 for depositing the cash. Transaction charge is Rs 20 even on withdrawals.

Mini statement will also be charged

Apart from this, the charge for taking out the mini statement is 5 rupees. After the free limit, the transfer charge will be 1% of the transaction amount, a maximum of Rs.20 to a minimum of Rs.1, for transfer of funds. GST is not included in the above mentioned charges. It seems different. This notification has been issued by India Post on 1 March. Customers have been informed about this through a message.

Read also, a big decision of the Ministry of Transport, now novices will get online Driving License, will also be able to get a renewal sitting at home.

Also read, invest in this brilliant policy of Post Office, you will get 7.25 lakhs on depositing Rs. 5068

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Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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