Post Office Savings Account

The Post Office Savings Account scheme was started with an attention on the rustic populace who have insignificant access to banks and managing an account office. As post offices are built up broadly at each remote area in India, these offices are utilized as managing an account entrances. With excess of 25,000 branches in urban communities and towns, post offices are found inside a range of each 5-10 Kms. Through the post office savings account scheme, post offices work as banks profiting the country populace, while the urban populace can likewise benefit from this office.

India Post Savings Account

The India Post office investment/savings account offers an extensive variety of highlights that can be profited by the general population who are searching for a superior and bother free saving money encounter. A portion of the highlights are recorded beneath:

Simple Account Opening

The India Post Office Savings Bank Account (POSB) can be opened with a base credit of Rs.50. This record is straightforward and without an issue as there are no punishments. One can generally open a record with the base parity and furthermore utilize it as an investment account for individual utilization purposes. Least parity for keeping up an account is Rs. 500 and check facility can be taken in a current record moreover. This is lower than the Public Sector and Private Sector Banks which orders a base parity of Rs.1000 to Rs.5000 or more.

ATM Facilities

Post office bank account holders can benefit the ATM office that comes as an extra to the record. The India Post ATM’s have been opened across the nation for encouraging the record/account holders.

SMS Alerts

Record holder can profit SMS alerts for his/her financial balance check for simple managing of an account. The important elements and updates regarding the account are sent through an SMS to the enlisted portable number.

Negligible Charges

There are no charges for the exchanges made through or from the POSB account. Deposits are possible through any branches in India with no charges.

Financing costs

The rate of interest given on a post office investment/savings account is 4% and subject to change every once in a while. If there should arise an occurrence of reserving funds for a young girl child, guardians can open a Sukanya Samriddhi Yojana account in a Post Office, which would give about 8.5% interest annually.

Opening a Post Office Savings Account

Post office investment account can be opened by grown-ups, minors beyond the ten years age, a guardian on behalf of an adult or a gathering of grown-ups. Post office bank account can’t be opened by organizations or business for executing business.

Following are the means to open an account/record under the Post Office Savings Account:

Get a form from the post office or on the web.

Present the appropriately filled and marked form alongside the required KYC reports and a photo.

Pay the sum you might want to store subject to at least Rs.20.

Your deposit will be opened for you.

For senior residents, there are discrete forms accessible.

To open an investment account at the post office, you have to present the accompanying paperwork:

ID Proofs like Aadhar Card, Voter ID, Driving License, Ration Card and so forth.

Address proofs like Electricity Bill, Ration Card, Bank Passbook, Telephone bill and Ration Card.

Passport Sized Photographs.

We, as a legal website try to entertain our readers by providing them quality stuff to read so that there information is enhanced and they become aware of leading topics. India post office was always kept in mind while writing this article for you.

All these services are really helpful that are provided by the Government. All these services can bring many good things for the citizens. We have tried to write a comprehensive article regarding obtaining it which is going to be used in many cases.

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