These Saving Schemes Will No Longer Charge Fees For Nomination Change/Cancellation [READ NOTIFICATION]
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These Saving Schemes Will No Longer Charge Fees For Nomination Change/Cancellation [READ NOTIFICATION]
The Ministry of Finance has notified the Government Savings Promotion General (Amendment) Rules, 2025 which amends Government Savings Promotion General Rules, 2018.
Till now Rs. 50 was charged for the Cancellation or Change Of Nomination but from 2nd April, 2025 no fee shall be charged.
In other words no fee for cancellation or change of nomination shall be chargeable on Post Office Savings Account, National Savings Monthly Income (Account), National Savings Recurring Deposit, Sukanya Samridhhi Account, National Savings Time Deposit (1 year, 2 years, 3 years and 5 years), Senior Citizens’ Savings Scheme, Public Provident Fund Scheme, National Savings Certificates (VIII Issue) Scheme, 2019, Kisan Vikas Patra Scheme, 2019, and PM CARES for Children Scheme, 2021.
“In the Government Savings Promotion General Rules, 2018, in the Schedule II, under Fee to be charged for services, the words and figures “(b) Cancellation or change of nomination – ₹50” shall be deleted,” the notification read.
Government Savings Promotion General Rules, 2018
The Government Savings Promotion General Rules, 2018 shall apply to the schemes listed in the Schedule appended to the Government Savings Promotion Act, 1873.
Notification Details
Notification No. F. No. 1/4/2023-NS(Pt.)
Date: 2/04/2025
Mariya is the Senior Editor at JurisHour. She has 5+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started as a freelance tax reporter in the leading online legal news companies like LiveLaw & Taxscan.
