India Post not to charge any late payment fee for RD holders in May

Kolkata: The India Post will not charge any late payment fees from the Recurring Deposit holders till this month-end in view of the COVID-19 lockdown situation, an official said.

Considering that the movement is restricted during the nationwide lockdown, the Department of Posts has announced that RD account holders may deposit the instalment of May till June 30 and there would not be any "revival fee", the official said.

The same will be also applicable to advance deposit of instalments to get the benefit of rebate.

"Subscribers of RD account who could not deposit the advance instalments to get the benefit of rebate during the lockdown period may deposit the same by June 30.

The rebate admissible as per the scheme provisions will be available at the time of deposit," a statement from the Chief Postmaster General (West Bengal) Circle said.

It further said that if the account is to be extended as per extant rule, the same shall be done by the depositor till June 30, submitting the pending monthly instalments.

"In such case, no default fee shall be charged for the period of March, April and May 2020, it added.