Post Office Monthly Income Account amendments set 8.2% interest from Dec 1, 2011 and no bonus on new accounts. The amendment sets the rate of interest at 8.2 per cent per annum for deposits made on or after 1 December 2011 and takes effect from that date. It provides that deposits made at account opening on or after 1 December 2011 shall be paid by the post office on or after expiry of five years from opening, and that no bonus shall be paid on such deposits.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Post Office Monthly Income Account amendments set 8.2% interest from Dec 1, 2011 and no bonus on new accounts.
The amendment sets the rate of interest at 8.2 per cent per annum for deposits made on or after 1 December 2011 and takes effect from that date. It provides that deposits made at account opening on or after 1 December 2011 shall be paid by the post office on or after expiry of five years from opening, and that no bonus shall be paid on such deposits.
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