Post offices in India have come a long way from just delivering letters and parcels. They offer a wide range of financial services and even helping people get their passports.
In a written reply to a question raised by Rajya Sabha MP Geeta Shakya, minister of state for communications Dr Pemmasani Chandra Sekharon Thursday informed the Parliament about the range of financial and passport-related services that post offices offer to their customers.
Dr Sekhar confirmed that post offices across the country are offering various financial schemes and acting as facilitators for passport issuance through Post Office Passport Seva Kendras (POPSKs).
Through 442 Post Office Passport Seva Kendras (POPSKs) across the country, citizens can now get their passport-related work done without having to visit Regional Passport Offices.
Here's the list of financial schemes offered by India Post to meet the diverse needs of its customers:
Post Office Savings Account (POSA): Easy-to-use savings accounts with options for internet and mobile banking, UPI, and IMPS integration. Minimum balance requirements start as low as ₹500.
Recurring Deposit (RD): Start with just ₹100 per month and build your savings over a flexible term of five years, extendable for another five years.
Time Deposit (TD): Invest for 1, 2, 3, or 5 years, with tax benefits available for 5-year deposits.
Monthly Income Scheme (MIS): Ideal for regular income, this scheme allows deposits up to ₹15 lakh for joint accounts.
Senior Citizens Savings Scheme (SCSS): Tailored for retirees, it provides quarterly income and extends financial security.
Sukanya Samriddhi Yojana Account (SSA): A special savings plan for girl children with tax exemptions and long-term benefits. Minimum initial deposit of ₹250 and subsequent deposit in the multiple of ₹50.
Public Provident Fund (PPF), National Savings Certificate (NSC), and Kisan Vikas Patra (KVP): These trusted schemes continue to offer safe and rewarding savings options.
Mahila Samman Savings Certificate (MSSC): A limited-time scheme exclusively for women and girls, available until March 31, 2025.
PM Cares for Children Scheme: Provides financial support to children who lost their parents during the Covid-19 pandemic. The beneficiaries are identified by ministry of women and child development.
India Post Payment Bank: A division of India Post which offers savings and current accounts, virtual debit cards, domestic money transfer services, bills and utility payments and insurance services for IPPB customers.
.png)
