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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.
The schemes are highly secured since they are under the government's supervision and the returns are fixed and guaranteed
Post offices are situated almost everywhere, even in rural locales around India.
There is a low minimum deposit that amounts to Rs 50, as underprivileged people can avail of the benefits.
These accounts can be transferred from one post office to another without much hassle.
The post-office savings accounts also come with the benefit of ATM/Debit cards for greater accessability.
Even minors can create a post office savings account, but the guardian or parent would manage the funds.