Post Office Schemes Service Charges: The savings scheme of the Post Office has always been a good investment option for the people. The reason for this is the guarantee of safe return of money along with good returns. In fact, if a bank defaults or goes bankrupt, then only 5 lakh rupees are saved in total, irrespective of the deposit. At the same time, every single penny in the post office is safe, that is, only 5 lakh rupees are safe here, it is not so.
Apart from this, there is a reason, which makes the post office savings scheme attractive. That is, the amount to be invested in these schemes is very low. Here you can also start investing in a small amount like 10 rupees.
Post Office Savings Schemes
There are many small savings schemes for investment in post office, such as Post Office Savings Account, National Savings Recurring Deposit Account, National Savings Time Deposit Account, National Income Monthly Income Account, Senior Citizen Savings Scheme, Public Provident Fund, National Savings Certificate, Kisan Vikas Patra, Sukanya Samriddhi Account are included. The features of all schemes are different.
In some of these schemes, tax benefit is also available on the limit of Rs 1.5 lakh under Section 80C of the Income Tax Act. After opening an account in the Post Office Savings Scheme, service charges related to different works are also taken.
How taxation on PF will affect your savings, keep these things in mind
These are service charges on savings schemes
- There is a fee of Rs 50 for issuing a duplicate pass book.
- For issuing an account statement and deposit receipt, Rs 20 goes for each case.
- There is a fee of Rs 10 per registration for issuing a passbook if the certificate is lost or damaged.
- To cancel or change the nomination, 50 rupees will have to be paid.
- There will be a charge of 100 rupees for transferring the account.
- There will be a fee of 100 rupees for pleasing the account.
- There is no fee up to 10 checks in a calendar year for issuing a check book in a savings bank account, but after that there will be a fee of Rs 2 per check.
- There will be a charge of 100 rupees if the check bounces.
(Appropriate tax will also have to be paid on these service charges.)