This period of inflation has burdened everyone. In such a situation, it is important to plan to secure our future. Similarly, investors are ensuring their financial security by adopting the small savings schemes of the post office. Many people invest in the National Savings Scheme (NSS), benefiting from its interest facility.
However, according to the new rule by the Central Government, interest under the National Savings Scheme has now been discontinued. The government had already been informed about this change. Investors who are part of the NSS scheme have been instructed to withdraw their deposited money. Let’s find out when it is advisable to withdraw the deposited funds.
The Indian Government issued new guidelines
Under the new rule of the government, interest on the money invested in the National Savings Scheme has now stopped. The government has instructed the investors to withdraw the deposited money by 30 September 2024. After this, no interest will be paid on the deposited amount.
KYC update is necessary
According to the guidelines issued by the government, it is also necessary to update KYC for those investing in the National Savings Scheme. If you do not do this, your account may be closed and it may also be difficult for you to withdraw the deposit amount.
Interest will be stopped after October
The government says that now investors will not be able to avail the benefit of interest under the small savings scheme National Savings Certificate. In such a situation, interest will not be available on the deposit amount in the new account opened after 9th October 2024. Let us tell you that in the period from March 2003 to 30 September 2024, 7.5% interest per annum was being given on the deposit amount, which has now been stopped. In such a situation, now you can adopt this scheme or if you want, you can look for another investment plan.