Diabytes
Post Office accounts News
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The Ministry of Communications on August 25 issued a circular.
Verification on withdrawal amounts above Rs 10,000 is now needed.
The new rules came into effect to control fraud cases.
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While the government has maintained the rate at 6.6 percent, it is higher than several bank fixed deposit rates.
The Post Office Monthly Income Scheme assures investors fixed returns at the rate at which their money was initially invested.
The Post Office MIS account can be terminated after five years from the date of opening.
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