Post office savings schemes Rate
It is necessary to link all the accounts of the post office with the post savings account or bank account. To link with the bank account, the account holder will have to fill the ECS form, along with a canceled cheque. Passbook of bank account, passbook of MIS, SCSS and TD will also have to be given.
According to the new rules of the post office, now the Post Office Monthly Income Scheme (MIS), Senior Citizen Savings Scheme (SCSS) And the interest money of term deposit will not be available in cash. The post office has said that all such accounts will be referred to as Post Office Savings (Post Office Savings).Post Office Savings Account) or it is necessary to link with the bank account. This new rule has come into effect from April 1, 2022. The post office has said in a circular that the interest money will be credited only and only in the post office savings account or bank account. If the interest money is not withdrawn, then it will be transferred to the post office savings account or can be withdrawn only through cheque.
In such a situation, it is necessary that all the accounts of the post office should be linked with the post savings account or bank account. To link with the bank account, the account holder will have to fill the ECS form, along with a canceled cheque. Passbook of bank account, passbook of MIS, SCSS and TD will also have to be given. After giving all these documents in the post office, the savings account of the post office will be linked with all these schemes and the interest money will continue to be deposited in the account.
How to Add Post Office Savings Account to MIS/SCSS/TD
For this, the account holder will have to fill the SB-83 form. This form is filled for automatic transfer facility. With the help of this form, MIS, SCSS and TD accounts are linked with Post Office Savings Account. By filling this form, the passbook of the post office savings account is also verified. The government has kept the interest rates of many small savings schemes stable. Among these, 7.6% interest is being given in Sukanya Samriddhi Yojana, 7.4% in Senior Citizen Saving Scheme and 7.1% on PPF. In Small Savings Scheme, interest is paid on quarterly basis.
Interest is getting 4 percent on Post Office Savings Account, 5.80 percent on 5 Year Post Office Recurring Deposit Account, 5.5 percent on Post Office Time Deposit Account, 6.80 percent on Public National Saving Certificate, 6.90 percent on Kisan Vikas Patra. All these means of investment are without any risk as the government supports all these schemes. So investors need not worry about their deposits. Post office also runs schemes for long term investments. This includes schemes like PPF and Sukanya Samriddhi. Those who want to get good returns by investing for a long time can invest money in these schemes.
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