Deposit limit rule restricts aggregate balances across monthly income accounts and sets account opening and joint share rules. Rule 4 permits a depositor to operate more than one National Savings Monthly Income Account provided deposits across all accounts do not exceed the ... Summary
Deposit limit rule restricts aggregate balances across monthly income accounts and sets account opening and joint share rules.
Rule 4 permits a depositor to operate more than one National Savings Monthly Income Account provided deposits across all accounts do not exceed the prescribed aggregate limits for single and joint accounts; accounts must be opened in a post office or a bank; and for maximum balance purposes a depositor's share in a joint account is treated as one half or one third of the balance where two or three adults hold the account.
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