Whether, Post maturity interest is payable on Post Office Time Deposit Account?

Yes. where repayment of a deposit has become due but has not been made, interest shall be allowed on the amount due for a  maximum period of two years from the date of maturity to the date of repayment of the deposit subject to the following conditions :-
(i).  The interest shall be simple and shall be calculated at the rate   applicable from time to time, to savings accounts of the type of single or joint account.
(ii).  For the purpose of payment of interest any part of the period which is less than one month shall be ignored.

(iii). The interest shall be paid to the depositor in a lump sum at the time of repayment of amount due.

For more story on MIS click here

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s

%d bloggers like this: