Tuesday, September 27, 2022
HomeBusinessTo get interest, link the post office account with the savings account...

To get interest, link the post office account with the savings account like this, know the complete process

Post Office Saving Account: The post office has implemented a new rule for its savings accounts, according to which if you open small savings accounts like Monthly Income Scheme, Term Deposit and Senior Citizen Savings Scheme (SCSS) in your post office, from the savings account. If you do not link, then in such a situation you will not get the benefit of interest on these schemes. It is worth noting that this new rule has been implemented from 1 April 2022.

Let us tell you that in this case, the post office has issued a notice informing its account holders that now interest will not be paid in the form of cash to the account holders as before. Now every post office small savings account holder will have to link his account with the savings account of the post office or bank.

Link post office small savings account like this
To link the small savings account of the post office with the savings account of the bank, you will first have to submit the copy of your bank’s canceled check and bank passbook to the post office. Along with this, the passbook copy of MIS, SCSS and TD accounts will also have to be taken for verification. Along with this, you have to fill the ECS-1 form and submit it to the post office. Keep in mind that the post office’s small savings account or bank account can be either single or joint.

Benefits of linking post office small savings account
Let us tell you that if you link the Monthly Income Scheme, Term Deposit and Senior Citizen Savings Scheme of your post office with the bank account, then you will not have to make rounds of the post office to collect interest every month. Now every month interest will reach your account through Automatic Transfer Service.

- Advertisement -
MOBILE

Auto

Two Wheeler

BUSINESS AND FINANCE

Digit News