Is There A Post Office Savings Account? Know About These 8 Types Of Charges

Post Office Savings Account?

Is there a savings account in the post office?, 8 Types of Service Charges on Savings Account, Know about savings account charges. – Hey Looters, DealsExport is back with List of All the important Personal Finance Tips to Get Loans, hope you are doing well and enjoyed our previous Free Recharge Tricks/Deals. OK let’s explore Today’s Topic.

Savings Account: Everyone Saves A Lot For The Future. For That, Banks And Post Office Savings Schemes Are Mostly Chosen. Since They Are Government Institutions, The Risk Is Less, So Savings Are Made In Them. However, Post Office Savings Account Holders Must Be Aware Of The Various Service Charges Applicable To Them. There Are 8 Types Of Service Charges On Postal Savings Account.

Post Office Savings Account
Post Office Savings Account

Savings Account

We Should Save Some Amount From Our Income To Secure The Future From Financial Problems. For That, Banks And Other Financial Institutions Offer Various Schemes. If You Keep Adding Them, The Revenue Will Increase. However, Post Office Offers Small Amount Savings Schemes (Post Office Savings Accounts) So That Even Those With Low Income Can Save. These Schemes Have Been Designed Keeping In View The Age, Duration And Tax Benefits To Benefit Different Sections Of The People. Because These Schemes Are Supported By The Government, People Are More Willing To Invest In Them.

A Post Office Savings Account is Like Any Other Bank Account. The Minimum Deposit Is Rs.500 And The Minimum Withdrawal Amount Is Rs.50. Savings Account Earns Up To 4 Percent Interest. Even Minors And Senior Citizens Can Avail Post Office Savings Accounts. Interest Income Is Tax Exempt Up To Rs.10 Thousand. Withdrawals Are Not Allowed if The Account Balance Is Less Than Rs.500. If There Is Not Rs.500 In The Account By The End Of The Financial Year, Then Rs.50 Will Be Deducted As Maintenance Fee.

8 Types Of Charges Applicable on Savings Account

  • Post Office Savings Account Holder For Issuance Of Duplicate Passbook Rs. 50 to Be Paid.
  • A Fee of Rs.20 Should Be Paid Each Time For Obtaining Account Statement Or Deposit Receipt
  • Rs.10 to Issue Passbook Instead Of Mutilated Certificate
  • Rs.50 For Cancellation Or Change Of Nomination
  • 100 Per Collateral On The Account
  • 100 For Account Transfer
  • 10 Check Leaves Free In One Year For Savings Account Check Book. After That Per Leaf Rs. Charged At
  • If The Check Is Bounced Or Canceled Then Rs.100 Will Have To Be Paid.
  • Tax Will Be Added On These Service Charges.

The Post Office Offers Various Schemes With Short And Long Term Benefits Along With Regular Savings Account. Post Office Offers Small Amount Savings Schemes Like Post Office Recurring Deposit, National Time Deposit Account, Senior Citizens Savings Scheme Account, National Monthly Income Account, Public Provident Fund, National Savings Certificate, Sukanya Samriddhi Yojana Account. Along with these, the recently announced Mahila Samman Yojana Scheme For Women Is Also Provided In The Budget.

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