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What is Post Office Savings Scheme? Know benefits, charges and more

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What is Post Office Savings Scheme?

The post office savings scheme consists of various savings instruments that provide dependable and risk-free returns on investments. Let's look at the benefits, charges, and more.

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Highly secured

The schemes are highly secured since they are under the government's supervision and the returns are fixed and guaranteed

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Easily available in your nearby office

Post offices are situated almost everywhere, even in rural locales around India.

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Minimium deposits

There is a low minimum deposit that amounts to Rs 50, as underprivileged people can avail of the benefits.

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Easily transferred from one office to another

These accounts can be transferred from one post office to another without much hassle.

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Benefit of ATM/Debit cards

The post-office savings accounts also come with the benefit of ATM/Debit cards for greater accessability.

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Minors can also open the account

Even minors can create a post office savings account, but the guardian or parent would manage the funds.

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