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Monday, January 17, 2022

Post Office rules for saving schemes, tax only with a withdrawal form

  • Post Office Savings Schemes: Check facility was not available in Gramin Dak Sevak branch, changed rules for customer convenience
  • It will be easy to deposit money and open a new account through withdrawal form (SB-7)

Post Office Savings Schemes :

new Delhi. If you are thinking of investing in Post Office’s Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY) or any other saving schemes (Savings Schemes), then this is going to be easy for you. Actually, the customers have been given some convenience from the postal department. Under which the facility of deposit and account opening will be provided through withdrawal form (SB-7). Since Grameen Dak Sevak (GDS – Gramin Dak Sevak) branches do not have check facility. In such a situation, to give relief to the rural customers, two works have been allowed on the same form.

Under the new rule, separate forms will no longer be required to deposit money and open new accounts in the Gramin Dak Sevak branch. The Savings Book Passbook with withdrawal form (SB-7) will work. Customers can submit up to Rs 5,000 through this form. At the same time, to deposit more than 5 thousand rupees, the customer has to give the post office savings passbook and pay-in-slip. Apart from this, passbook of SB / RD / SSA or PPF will also have to be shown for the respective scheme. Through this money can be deposited in other schemes including PPF and Sukanya Samriddhi.

Important news for Post Office customers may be bigger from October 1

Postmaster will verify
Customers who will deposit more than 5 thousand rupees. They will also have to show other documents along with the form. The postmaster will verify the withdrawal form, pay-in-slip and passbook. After this, the details will be updated. The customer will then have to get his passbook and receipt from the post office.

Interest rates will remain there till December
The interest rates available in post office savings schemes vary every quarter. But this time the central government has decided not to change the rate of interest on Small Savings Schemes. As such, the interest accruing in the public provident fund and several other savings schemes, including NSC, will remain the same till December 31.

Big news for Post Office customers, new interest rates came into effect from today,

Source: www.patrika.com

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Nisha Chawlahttps://www.businesskhabar.com/
She is an expert in Banking, Finance and working with an international bank. She sharing her ideas and knowledge with Business Khabar.
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