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|
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/-|
|Senior Citizen||INR. 1000/-|
(With input from agencies)