Nowadays Post office savings bank account will be trending on social media networks and whats app groups.Because of the after demonetization, the banks are increased their service charge and Reduced the transaction Limits.According to the reports, we need to pay a 150RS service charge for ATM transactions, when the ATM transactions are more than five in a month.We already giving ATM service charge, Cheque book charge, and more hidden service charges.SBI and some other bank holders need to pay an extra service charge, when we use ATM from another bank.Also, Banks are required service charge for SMS and Email Alert.How To Start Post Office Savings Bank Account?
Now Post office savings bank account will be offering services like a bank without any service charges.We don’t need to pay yearly ATM card fee.The merits of Postoffice savings bank account is Listed below.
- No Yearly ATM service charge
- Don’t need to pay For extra cheque book
- Don’t Need to pay SMS service.
- You can use unlimited ATM transactions
- You can use the Rupay card offered by Postoffice in Any Banks ATM machine
- You can transfer the Savings account from one Post office Branch To another Post office
- You can deposit or withdrawal from any post office all over the India
- Post offices are working on second Saturdays, Then You will get services from the post office on 6 days in every week.
- Post office Savings account Interest Rate: 4.0% per annum on individual / joint accounts
How To Start Post Office Savings Bank Account
You need to visit the nearest post office for open a savings bank account.You can open Single or joint accounts.You need to fill out the account opening form and ATM card Form.Then provide 2 or three photos and Adhaar or ID card photostat.You need to submit the pan card photo stat for higher amount transactions.The other details about How To Start Post Office Savings Bank Account will be listed below.
- Minimum balance for Open a Savings bank account is 50 Rs
- You need to deposit 500 Rs for Cheque book facility
- Nomination facility is available
- Joint account can be opened by two or three adults
- At least one transaction of deposit or withdrawal in three financial years is necessary to keep the account active
- Single account can be converted into Joint and Vice Versa
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