According to the new rules, the interest earned on savings from the post office will no longer be available in cash. This interest will be transferred to the account of the account holder.
Post Office New Rule: If you have a savings account in the post office, then this news is for you. The rules related to post office savings schemes have changed.
The new rules will come into effect from April 1. According to the new rules, the interest earned on savings from the post office will no longer be available in cash. This interest will be transferred to the account of the account holder.
According to the circular issued by the post office, ‘From April 1, the Post Office Monthly Income Scheme (MIS), Senior Citizen Savings Scheme (SCSS),
Post Office Fixed Deposit (Post Office Term Deposit) But interest will not be paid in cash. From now on the interest will be paid in the post office savings account or bank account of the account holder.
The post office has said that if an account holder has not linked his bank account with Senior Citizen Savings Scheme, Monthly Income Scheme or Term Deposit, then interest will be paid to his bank account or his post office savings account. ) will be transferred.
As per the circular, it has also been observed that many term account holders are not aware of the annual interest payment of term deposit accounts. Their interest money remains in the post office account.
What does the post office
say Post office says that the post office is to promote digital transactions with proper functioning of the bank, curb activities like money laundering and to protect customers from fraud,
post office savings accounts or bank accounts It is necessary to link the Senior Citizen Savings Scheme, Monthly Income Scheme and Term Deposit accounts with each other. Therefore, it is necessary that if any customer of the post office has not linked his savings scheme with the bank or post office savings account, then get it linked on March 31.
To link
the Senior Citizen Saving Scheme, Monthly Income Scheme and Term Deposit accounts of the post office with the savings account, you have to go to the post office and fill the SB-83 form (automatic transfer).
The application has to be submitted to avail the facility of transfer of interest money. SB Form and Post Office Savings Account Passbook along with your passbook will have to go to the post office for verification.
To link Senior Citizen Scheme, Monthly Income Scheme or Term Deposit Scheme with bank account, you need to fill ECS-1 form. Along with this, a photocopy of the first page of the passbook of the canceled check or the bank in which the account is held will have to be given.
