MIS early withdrawal guidelines, charges discussed

Several financiers opt for a Post Office Monthly Income Account (MIS) for routine earnings. If you have actually bought MIS, you need to understand that you can withdraw cash from it too soon with charges. You have to fulfill specific conditions for it. What are the guidelines for too soon withdrawing cash from the Post Office Monthly Income Account? What are the charges you require to spend for closing MIS before maturity? ET Wealth Online discusses Post Office Monthly Income Accounts (MIS) early withdrawal guidelines and charge According to the Post Office site, “No MIS will be withdrawn before expiration of one year from the date of deposit.” An MIS account can be too soon closed by sending a recommended application kind with a passbook at the worried Post Office. There are particular charges relevant for closing a Post Office Monthly Income Accounts. According to the India post workplace site since March 15, 2024, provided listed below are the charges for shutting down the MIS account: (i) If the account is closed after 1 year and before 3 years from the date of account opening, a reduction equivalent to 2% from the principal will be subtracted and the staying quantity will be paid. (ii) If the account closes after 3 years and before 5 years from the date of account opening, a reduction equivalent to 1% from the primary
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