You Must Know This If You Have Account In Post Office

The Department of Post has made it easier for people from rural areas to invest in other Postal Savings Schemes including Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY). According to information given by the department, there is no facility of check in the post office’s Gramin Dak Sevak (GDS) branches. In view of this, deposits and accounts have been allowed to be opened through withdrawal form (SB-7).

Will be able to deposit up to Rs 5,000

After this decision of the Department of Posts, now Savings Book Passbook with withdrawal form (SB-7) will be used for the upcoming deposit and opening of new accounts in Gramin Dak Sevak Branch. A deposit of up to Rs 5,000 can be made with this form. This rule will also be applicable for opening a new public provident fund account up to Rs 5,000.

What is required to deposit more than Rs 5,000?

For depositing more than Rs 5,000, the depositor will also have to provide post office savings book passbook and pay-in-slip along with withdrawal form SB-7. Apart from this, pass book of SB / RD / SSA or PPF will also have to be shown for the respective scheme.

How to get passbook back with receipt?

After this, the Gramin Dak Sevak will check the post master withdrawal form, pay-in-slip and passbook. After updating the details, the depositor will have to get the passbook and receipt from the account office of the Gramin Dak Sevak branch.

Interest rate has not changed for December quarter

Let us tell you that only last week, the central government has decided not to change the interest rate available on Small Savings Schemes. This includes several other savings schemes including Public Provident Fund and NSC. This decision of the government means that now there will be no change in the interest rates on these schemes for the October-December quarter.

Finance Ministry has issued a notification

A notification in this regard was issued by the Ministry of Finance, which had information about the interest rates of small savings schemes in the third quarter of the financial year 2020-21. In this notification, it was told that till December 31, there will be no change in the interest rates of these schemes.

These interest rates are revised every three months

The Ministry of Finance revises the interest rate on small savings schemes every three months. After this, information about this is issued by issuing notifications. This is the third consecutive quarter, when there has been no change in the rates of small savings schemes.

(With inputs from

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