Despite having many investment options in India, most of the people invest or make plans in post office schemes. If you have also invested in small savings schemes of the post office, then you will have to settle this work on or before 31st March. Otherwise, your interest money may also get stuck.
As per the post office rules, it is now mandatory to have a savings account to receive quarterly, monthly and annual interest on small savings schemes like National Savings Monthly Income Account (MIS), Senior Citizen Savings Scheme Account (SCSS) and Time Deposit. In such a situation, if any person does not link these accounts, then he will lose interest.
In a directive issued by the Department of Posts, it has been said that interest on MIS / SCSS / TD accounts will be credited to the account holder’s PO savings account or bank account from April 1, 2022. But if an account holder does not link MIS / SCSS / TD accounts before March 31, then interest money will not be sent to his bank savings account and post office savings account. He will be given interest money in the scheme through check or credit.
Why it is important to link accounts