Post Office Scheme: If you have also got your account opened in the Post Office Savings Scheme. So today's news is for you. You must definitely be aware of the changes made by the government. Three types of changes have been made by the government in the Post Office Saving Account. These changes were announced on 3 July 2023 through a single gazette notification issued by the Department of Economic Affairs, Ministry of Finance.

Changes made in the rules of the savings scheme by the government

These changes are known as Post Office Savings Account Amendment Scheme 2023. Tell that the maximum number of joint account holders in the post office savings account from the Government side was two, which has now been increased to three. On the other hand, changes have also been made in the form of withdrawal application from the government. Now you have to use Form 3 instead of Form 2 for withdrawal. Now withdrawal of up to Rs.50,000 in the account can also be done by showing the passbook.

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Interest will be calculated as follows

Interest will be paid at the rate of 4% per annum on the lowest balance in the accounts between the 10th day and the end of the month. In this way the interest will be calculated and will be deposited in the interest accounts at the end of each year. Through this, in case of death of an account holder, interest can be paid in his account only at the end of the month in which his account was closed.

Posted Date: August 23, 2023

Publish Date: August 23, 2023

Posted By Rahul Bhardwaj

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