There is big news for those investing in the post office small savings scheme. Actually, from April 1, there is going to be a change in the rules of these schemes which will directly affect the customers. According to the new rules, it has now been made mandatory for customers to open a savings account or bank account to invest in Time Deposit Account, Senior Citizen Savings Scheme and Monthly Income Scheme (MIS).
According to the report, the interest received on the amount deposited in these small savings accounts will be deposited in the post office savings account or bank account itself. In order to change these rules, on behalf of the post office, you have asked all the customers, who do not have any kind of savings account, to open the account. It has been said by the post office that customers should get their post office or bank savings account opened as soon as possible. Interest of Post Office Senior Citizen Savings Scheme, MIS, Time Deposit Account etc. will now be credited to that account.
In this way, you can link the account
It was told by the post office that if you already have an account in the bank or in the post office, then definitely link it to the small savings account of the post office. According to the notification issued by the government, without a savings account, you will not get interest in the small savings account, so do this important work before March 31, 2022. If you want to link Post Office Savings Account with SCSS /TD/ MIS, then you can avail Automatic Transfer Service for the same. Apart from this, to link the bank account, you can link through bank passbook or canceled check by visiting the post office.