If you also invest in different schemes of the post, then there is an important update for you. A circular has been issued by the post office. In which it has been said that from April 1, 2022, interest on Senior Citizen Saving Scheme, Monthly Income Scheme and Term Deposit Account will not be paid in cash. According to the circular, from April 1, the interest money will be sent to the bank account or savings account only. That is, it will be necessary to link your account with the post.
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On behalf of the postal department, it has been said that some senior citizen savings account, monthly income scheme and term deposit account holders have not linked their bank account or post office savings account. If under any circumstances the account holders are not able to link their account, then the interest money will be given to them through check or post office savings account.
The post office told the reason for this decision
“In order to improve the post savings bank operations, to promote digital transactions, to check incidents like fraud, linking of bank account or post office savings account has been asked,” the circular said. Let us tell you, if the interest money of Senior Citizen Savings Account, Monthly Income Scheme and Term Deposit Scheme is not withdrawn, then no interest is available on it. But if the money is sent to the savings account, then interest can be earned from there as well. Along with this, filling a lot of forms for interest withdrawal will also get rid of.