Ministry of Communications
Financial and Passport Related Services by Post Offices
Posted On: 28 NOV 2024 2:29PM by PIB Delhi
The details of the financial and passport related services primarily being provided by the post offices to the customers are attached herewith.
Scheme
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Features
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Post Office Passport Seva Kendras (POPSK)
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- Currently, providing the passport services at 442 Post Offices Passport Seva Kendras
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Post Office Savings
Account (POSA)
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- For regular savings, withdrawals etc.
- Min. balance - ₹ 500/- and ₹ zero in case of Basic Savings Account
- ATM / Internet & Mobile Banking Facility / NEFT & RTGS
- Post office Savings Accounts with India Post Payment Bank account linkage for UPI, IMPS etc.
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Recurring Deposit (RD)
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- Min. instalment (per month): ₹ 100/- and thereafter any amount in the multiple of ₹ 10/-
- Max. instalment: No limit
- Term: 5 Years and extendable for another 5 years
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Time Deposit (TD)
1/2/3/5 Year(s)
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- Min. Deposit (Single): ₹ 1000 /- or in the multiple of ₹ 100/-
- Max. Deposit: No limit
- Income Tax exemption for investment in 5 Year TD
- Extension – Twice after completion of term
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Monthly
Income Scheme (MIS)
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- For source of monthly income
- Min. Deposit: ₹ 1,000/- or in its multiple
- Max. Deposit: ₹ 9.0 lakh /- (individual); ₹ 15 lakh (in Joint)
- Term – 5 Years
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Senior Citizens Savings Schemes (SCSS)
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- Special scheme for Senior Citizens
- For source of quarterly income
- Min. Single Deposit: Rs. 1,000/- or in its multiple
- Max. Deposit: Rs. 30,00,000/-
- Term – 5 Year and extendable after the expiry of each block period of three years
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Public Provident Fund (PPF)
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- Min. Initial Deposit: ₹ 500/-
- Max. Deposit: ₹ 1,50,000/- in a Financial Year
- Min. Subsequent deposit in the multiple of ₹ 50/-
- Income Tax exemption for investment
- Tax free Interest
- Term – 15 Years and extendable further
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Sukanya Samriddhi Yojana Account (SSA)
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- Special Scheme for girl children
- Min. Initial Deposit: ₹ 250/-
- Max. Deposit: ₹ 1,50,000/- in a Financial Year
- Min. Subsequent deposit in the multiple of ₹ 50/-
- Income Tax exemption for investment
- Tax free Interest
- Term – 21 Years
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National
Savings Certificate – VIII Issue (NSC)
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- Minimum investment - ₹ 1,000/-
- Maximum investment: No limit - In multiples of ₹ 100/-
- Income Tax exemption for investment
- Term – 5 years
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Kisan Vikas Patra (KVP)
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- Minimum investment - ₹ 1,000/-
- Maximum investment: No limit - In multiples of ₹ 100/-
- Maturity - Double the amount of investment
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Mahila Samman Savings Certificate (MSSC)
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- Special Scheme for Women and girl children
- Investment is allowed from 01.04.2023 to 31.03.2025
- Minimum investment - ₹ 1,000/-
- Maximum investment: ₹ 2 Lakh per individual - In multiples of ₹ 100/-
- 3 months-time-gap between the opening of accounts
- Term – Two years
- Lockup period – 6 months
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PM Cares for Children Scheme 2021
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- Special scheme for the beneficiaries identified by Ministry of Women and Child Development
- Initially, 4515 accounts were opened and funded
- Investment differs based on the age of child and maturity amount is ₹10 Lakh
- MIS Interest is payable on 10 Lakh from the age of 18 to 23
- Maturity at the age of 23 of the account holders.
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India Post Payment Bank (IPPB)
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- Savings and current accounts
- Virtual Debit Card
- Domestic Money Transfer services
- Bill and utility payments
- Insurance services for IPPB customers
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This information was given by the Minister of State for Communications, Dr. Pemmasani Chandra Sekhar in a written reply to a question in Rajya Sabha today.
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SB/DP/ARJ
(Release ID: 2078393) Visitor Counter : 378
Read this release in: Hindi , Tamil
Source : https://pib.gov.in/PressReleasePage.aspx?PRID=2078393
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