Post Office Saving Scheme: The number of joint account holders in the post office savings account has been increased. Earlier two people could become joint account holders. This number has been increased to three. The government has changed the withdrawal application from Form 2 to Form 3, under which withdrawal of at least fifty rupees from the account can be done by showing the passbook.
Post Office Saving Scheme is considered very good and better in terms of investment and savings. In post office schemes, you get very good interest and returns on your deposited amount with the guarantee of government safety. Although the government has made some changes in the savings schemes of the post office. This is known as the Post Office Savings Account (Amendment) Scheme, 2023. In such a situation, it becomes necessary for you to know about some changes in post office schemes.
Change in number of account holders
The number of joint account holders in post office savings account has been increased. Earlier two people could become joint account holders. This number has been increased to three. The government has changed the withdrawal application from Form 2 to Form 3, under which withdrawal of at least fifty rupees from the account can be done by showing the passbook. As per the Post Office Savings Account Scheme, 2019, earlier rules, withdrawal of at least fifty rupees from the account could be done by presenting the passbook by duly filling Form-2 and signing it. Money from the account can be made electronically or on the basis of availability of balance above the minimum prescribed limit.
Interest on deposits in an account
Interest will be allowed at the rate of 4% per annum on the lowest amount in an account between the 10th day and the end of the month following the new changes in post office savings schemes. In this way the calculation of interest is deposited at the end of every year. Under this, in case of death of an account holder, the interest in his account will be paid only at the end of the month in which the account is closed.
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