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Mandatory Use of Savings Account for Credit of Maturity/Premature values, Monthly/Quarterly/Yearly interest in case of MIS/SCSS/TD accounts and investments from 01st December 2017

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W.e.f 01.12.2017 as per SB order 15/2017

1.On closure of any account either on maturity or on premature (other than SB account), the closure amount shall be paid only by credit into a SB Account from 01.12.2017

2. Interest in respect of all MIS/SCSS and TD accounts shall also be paid only by credit into SB Account from 01.12.2017

3.No Postmaster Cheque should be issued against any closed account/certificate

and if any depositor attends post office for closing of any account not having linked SB Account by that date, a BASIC SAVINGS ACCOUNT should be opened under this same ClF on the same day without asking for separate ACCOUNT OPENING FORM (AOF) by selecting SBBAS as scheme code.

and account should be closed and closure proceed should be credited to that SB account.

Related posts:
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  2. Linking of Aadhar with Postal Saving Accounts
  3. Indian Postal : Finacle : Closing Saving Account if Loan Exists in RD
  4. CPAO : Credit of Revised Pension & Arrears in the Bank Accounts Should be in a time Bound Manner
  5. SBI Monthly Average Balance (MAB) in Savings Bank Accounts to be Revised w.e.f. 01/10/2017
  6. Making Mobile Phone Number MANDATORY While Opening of a New Account in any of the P.O. Small Saving Schemes – Regarding
  7. Is it Really Mandatory to Link Aadhaar with Bank Account and Mobile
  8. New Account Opening in Aadhaar Number is a Mandatory Document while – SB Order No. 16/2017
  9. Revision of Interest Rates for Small Savings – for 3rd Quarter of Financial Year 2017-2018
  10. Post Office Savings Bank – Schemes and Rates of Interest from 01.07.2017 to 31.12.2017

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