The account holders of Post Office Savings Schemes like Senior Citizen Savings Scheme, MIS, and TD Accounts should observe a significant cut-off time. The Department of Post has chosen for obligatory connecting of either PO Savings Account or Bank Account for crediting of revenue installment of Senior Citizen Savings Scheme, MIS and TD Accounts and the last date to do as such is 31 March 2022.
It said that premium installment in real money will not be permitted from MIS/SCSS/TD various office accounts w.e.f. from 01 April 2022. It further expressed that in the event that a record holder can't interface his/her Savings Account with MIS/SCSS/TD accounts up to 31.03.2022 and premium 1s credited in MIS/SCSS/TD various office accounts, the exceptional premium should be paid distinctly through credit in PO Savings Account or with a money order. Premium on MIS/SCSS/TD records will be credited uniquely in the account holder's PO Savings Account or Bank Account with impact from 01.04.2022. (Likewise read: State Bank of India shares 5 hints to guarantee your ATM Safety - - Check out)
The division of post in its round has said that accounts holders of the Senior Citizen Savings Scheme (SCSS) who have not connected their bank account (either PO Savings Account or Bank represent) credit of their month to month/quarterly/yearly endlessly premium due in these records are left neglected in various office account.
Further, the round saw that MIS/SCSS/TD accounts holders will be capable partake in the accompanying advantages by connecting investment account (either PO Savings Account or Bank represent) premium installment.
• Premium credited in the bank account will procure extra revenue, in the event that premium isn't removed straightforwardly from MIS/SCSS/TD Accounts.
• Investors can pull out due revenue without visiting the mail center and use something very similar through different electronic means.
• Topping off of different withdrawal structures for every MIS/SCSS/TD record can be stayed away from.
• Contributors might profit office of the programmed credit of revenue sum from their MIS/SCSS/TD accounts through PO Savings Account to RD accounts.
• You should take note that the PO Savings Account or Bank Account, in which the premium installment is wanted by the investor of MIS/SCSS/TD Accounts, can be either single record kind of the depositor(s) or shared service type in which the depositor(s) of MIS/SCSS/TD accounts should be one of the contributors or watchmen in an investment account.
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