You will get more profits in this post office account and these benefits for free compared to many government banks including SBI.

New Delhi. Many big government and private banks of the country have reduced the interest rates on savings accounts. SBI (State Bank of India) customers will now get 2.75 percent annual interest instead of 3 percent on the amount of Rs 1 lakh deposited in their savings account. In such a situation, if you are thinking of changing your savings account, then Post Office Savings Account can be a better option for you. Because this account is still getting more interest than these government banks. Besides, many other facilities are also available.

Let us know all the things related to Post Office Savings Account…

(1) Will get more profit-You will get 4 percent interest on this savings account. At the same time, at present SBI is giving 2.75 percent interest. Also, interest up to Rs 10,000 is completely tax free. Only minimum balance of Rs 500 has to be maintained in this account. You also get the facility of ATM and check book in the post office.

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(2) These documents will have to be given to open an account-To open this savings account, you will have to provide Voter Card, Aadhar Card, Ration Card, Passport, Driving License as ID proof. At the same time, address proof should include bank passbook, passport, ration card, electricity bill, phone bill, Aadhar card. Along with this, latest passport size photograph will have to be given.

(3) Where to get the form- To open a savings account in the post office, a form has to be filled. Apart from the post office, this form can also be downloaded from the department’s site. Apart from this, KYC is also necessary. The form has to be filled and submitted to the post office. After this the post office will open your savings account.

(4) These facilities will be available– By opening this account you get the facility of check book. At least 1 transaction in 3 financial years is required to keep the savings account active.
For more information you can visit the post office website https://www.indiapost.gov.in/Financial/Pages/Content/Post-Office-Saving-Schemes.aspx

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Tags: Corona, Coronavirus, india post, Post Office

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