PPF SSY Account Scheme: The Department of Posts had earlier extended Government Small Savings Scheme like PPF NSC (PPF NSC) etc. to the branch post office level! The Department of Posts has made it easier for people in rural areas to deposit and open Public Provident Fund (PPF) Sukanya Samriddhi Account and other postal savings schemes (Post Office Savings Scheme)!
PPF SSY Account Scheme
The Department of Posts in a communication said that it is receiving various references to allow later deposits/ account opening through Withdrawal Form (SB-7). Because many depositors do not have check facility in GDS Gramin Dak Sevak (Rural Post Servant) Branch Post Offices Post Office Savings Account!
The Department of Posts has decided to allow acceptance of withdrawal forms along with savings book passbooks for subsequent deposits and opening of new accounts at GDS Branch Post Offices. The Department of Posts (Post Office) had earlier extended government small savings schemes like PPF NSC (PPF NSC) etc. to the Branch Post Office level! There are 1.31 lakh branch post offices in rural areas.
In a communication the Department of Posts (Post Office) said that for later deposit book in Savings / Recurring Deposit / Sukanya Samriddhi Account (Sukanya Samriddhi Account) Public Provident Fund it has been allowed to deposit later! ₹ 5000 account through withdrawal form (SB-7) in GDS Branch Post Offices! The same rule is applicable for opening new PPF accounts up to F 5000 through the withdrawal form!
what can be availed
- Opening accounts of PPF Senior Citizen Savings Scheme (PPF Senior Citizen Savings Scheme) and other schemes and later through check it can be done in deposit in the Post Office Branch!
- Post Office (Post Office) MIS and Senior Citizen Savings Scheme accounts monthly / quarterly interest will be paid only through the post office savings account of the customer!
- Opening accounts in savings schemes like PPF and SSY has now become easier in rural areas also, rules have changed
Loan or withdrawal in PPF (Public Provident Fund) account will be done through the post office savings account of the customer.
- If form 15G/15H is submitted to the branch post office on behalf of the Senior Citizen Savings Scheme depositor! So the post office will send it to the concerned account office.
- The account office will ensure the updation of Form l5G / 15H.
As per earlier rule book (PPF SSY Account)
All Post Office Savings Bank Checks issued by any CBS Post Office will be treated at par and will not be sent for clearing.
However, the guidelines also stated that “No POSB check for more than Rs.25,000/- should be accepted on other SOLs in a day”. This essentially meant that while POSB account holders could deposit only up to Rs 25,000 in non-home branch service outlets.
Now the following rules have been changed
No POSB check for more than Rs.25000 should be accepted for cash withdrawal at other SOLs in a day. However, POSB checks can be accepted in other SOLs without any amount restriction for credit in Post Office Savings Bank Recurring Deposit, PPF Sukanya Samriddhi Yojana accounts!
Public Provident Fund Sukanya Samriddhi Deposit Account (PPF SSY Account)
Post Office Savings Bank customers can now deposit checks of any amount in Non-Home Branch Post Offices! Unless the deposit amount is included in the list of selected (PPF Sukanya Samriddhi Yojana)! Which includes PPF and POSS schemes!
Earlier customers and depositors were allowed to deposit a maximum of Rs 25000 per day only in Post Office Accounts. Unless deposited in Non-Home Branch Offices! This was a constant source of complaints from depositors.
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