Tuesday, November 5, 2024

Post Office Rule: Important information for post office customers! Many rules, including FD, will undergo significant changes beginning April 1.

Rule of the Post Office: From April 1, 2022, interest on Post Office Monthly Income Scheme (MIS), Senior Citizen Saving Scheme (SCSS), and Post Office Fixed Deposit (Term Deposit) will not be paid in cash. Interest will be paid only to the account holder’s post office savings account or bank account.

Postal Regulations: Customers of the post office should be aware of some important news. The rules governing post office savings plans have also changed. The interest rate on post-office savings has now been changed by India Post. If you use the post office, you should be aware of the changes. In addition, the post office has issued a circular and made a major announcement regarding interest payments.

The new rules will go into effect on April 1st.

According to a circular issued by the post office, “interest on Post Office Monthly Income Scheme (MIS), Senior Citizen Saving Scheme (SCSS), and Post Office Fixed Deposit (Term Deposit) will not be paid in cash beginning April 1, 2022.” Interest will be paid only to the account holder’s post office savings account or bank account. If an account holder has not linked his or her bank account to the Senior Citizen Savings Scheme, Monthly Income Scheme, or Term Deposit, the total interest will be paid by check or in his or her post office savings account.

Read More: If you want to apply for an education loan, then keep these things in mind; will benefit

A link to a savings account is required.

It is worth noting that this rule applies to all post office customers, regardless of whether they receive their interest money monthly, quarterly, or annually. In addition, if a customer has not linked his bank or post office savings account to his savings scheme, he may face problems beginning April 1. To avoid any complications, all customers should link their post office scheme to their savings account before March 31, 2022.

Money will be transferred to the accounts of various offices.

Let us remind you that if you do not link both accounts by March 31, the interest received after April 1 will be deposited in the post office’s various office accounts. Once the interest has been deposited in the miscellaneous office account, it will only be paid through a post office savings account or a cheque. That is, it has the potential to cause you problems.

The interest money is paid monthly in the post office under the 5-year Monthly Income Scheme (MIS). The interest on the 5-year Senior Citizen Saving Scheme (SCSS) is paid quarterly. At the same time, TD account interest is paid on an annual basis.

There is no interest in this sum.

If you have a Senior Citizen Saving Scheme, Monthly Income Scheme, or Term Deposit open at the post office, there is no interest available on the interest. This means that the interest will be deposited into your account as if it were dead money. As a result, by withdrawing this capital, you will be able to do other things.

spot_img
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Latest

X changed its monetization policy, Elon Musk made a big change

The social networking platform X has decided to modify its artists' monetization approach. Users will now be less reliant on adverts as a result...

New feature given in the KTM 250 Duke, comes for Rs 2.5 lakh

The KTM 250 Duke's latest version is on the market. The TFT LCD on the KTM 250 Duke is new. Along with this, LED...

Apple to launch iPad Mini 7 on this day! know the details before launch

The iPhone 16 series is the newest iPhone series that Apple has released. Apple released four phones in this series: the iPhone 16, iPhone...

EMI to remain expensive, RBI makes no changes in the repo rate

The burden of high EMI is not alleviated. The 6.50 percent policy rate has been sustained by the Reserve Bank of India. This declaration...

Assistant Professor Recruitment in Delhi University, this is the last date

An announcement for Recruitment has been made by Delhi University for the position of Assistant Professor. The University (DU) has made this position available...

Most Popular

Subscribe

* indicates required