Post office savings account: Post office schemes are a means of safe investment and guaranteed returns. In this, people of every age/income group can invest in the schemes available for savings and investment.
You can also open a savings account with the post office. On this, you get exactly the same facilities as a bank account. Any adult or minor person can open this account.
There is no limit on depositing money in this and you also get tax exemption up to Rs 10,000 on it. You get 4 per cent annual interest on this account.
You have to pay much less charges for the facilities of Post Office Savings Account as compared to any bank account.
Post Office Savings Account Charges
Like any bank account, you have to pay some charges on it. There are many facilities like maintenance, and withdrawal for which you have to pay charges. We are going to tell you the same here.
1. There should be a minimum of Rs 500 in your post office savings account. If the amount goes less than this and at the end of the financial year it remains below this limit, then a maintenance fee of Rs 50 will be deducted. If there is no money in your account at all then it will be automatically cancelled.
2. To get a duplicate passbook issued, you have to pay Rs 50.
3. For issuing account statements or deposit receipts, Rs 20-20 have to be paid.
4. For getting a passbook issued in case of loss or damage of certificate, Rs 10 has to be paid on every registration.
5. It costs Rs 100 each for account transfer and account pledge.
6. It costs Rs 50 to change or cancel the name of the nominee.
7. For misuse of cheques, you have to pay a charge of Rs 100.
8. In a year, you can use 10 leaves of the chequebook without any charge, and after that, there is a charge of Rs 2 on each leaf.
What facilities are available on the post office account?
So, that you can take advantage of the facilities related to your account and use them fully, you also get many types of additional facilities on it.
Chequebook
ATM Card
E-banking/Mobile Banking
Aadhaar Linking
Atal Pension Yojana
Pradhan Mantri Suraksha Bima Yojana
Pradhan Mantri Jeevan Jyoti Bima Yojana
