Spread like a spider web, Indian post operates from over 1.5 lakh offices across the nation. Apart from its mailing operations, these offices provide a variety of banking services to the customers. The department of postal services allow customers to open their savings account, and also provides an ATM-cum-debit card with fixed withdrawal amount as the limit. As per the India Post’s official website, an individual can open a savings account with mere Rs 20. A holder of the savings account can enjoy the 4 per cent annual rate of interest on his savings in the current quarter.
ATM TRANSACTION CHARGES:
| Daily ATM cash withdrawal limit | INR. 25000/- |
|---|---|
| Cash withdrawal limit per transaction | INR. 10000/- |
| Charges for transactions done at DOP ATMs | Free (Both Financial & Non Financial) with a limit of 5 Financial transactions per day |
| Permissible free transactions at other Bank ATMs (per month) | Metro Cities – 3 free transactions (Both Financial & Non Financial) Non Metro Cities – 5 free transactions (Both Financial & Non Financial) |
| Charges after exceeding permissible free transaction limit at other Bank ATMs | Financial & Non Financial Transactions – Rs 20 + Applicable GST |
OTHER FACILITIES:
Post office savings account holders have the facility to choose or to leave the cheque book facility. Customers seeking to get a cheque book are required to maintain a minimum balance of Rs. 500.
Types of accounts:
| SB(Cheque account) | INR. 500/- |
|---|---|
| SB(non Cheque account) | INR. 50/- |
| MIS | INR. 100/- |
| TD | INR. 100/- |
| PPF | INR. 500/- |
| Senior Citizen | INR. 1000/- |
(With input from agencies)