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Can a POTD account be prematurely closed?

April 26, 2017account closed potd prematurely

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Can a POTD account be prematurely closed?

2 Answers

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Ans: Yes. After six months. If premature closure is made after six months but before 1 year, no interest will be payable. In case the premature closer is after 1 year, the depositor will be paid 2% less than the rate of interest applicable for the period of deposit remaining with the Post Office.

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Ans : A POTD account can be closed prematurely after six months but before one year without interest. A POTD account for 2, 3, 5 years can be closed after one year and depositor will get 2% less than the rate of interest specified for a deposit of one year, two years, or three years as the case may be. N.S.C.