Documents Required for Post Office Saving Schemes

Post Office Saving Schemes have government-backing and there are many popular small savings schemes offered by Post Offices which are opted by many people. It is always good to know the documentation involved for opening an account of any of the post office savings scheme in advance, as it will make the account opening process easier.

Any of the Post Office Saving Schemes can be purchased from any general post office across India by the eligible persons. Many of the schemes provide guaranteed returns along with tax tax benefits.

Documents Required for Post Office Saving Schemes

• Scheme Specific Account Opening Documents
• Recent Passport Size Photograph/s
• KYC Form
• Copy of PAN Card
• Copy of Aadhaar Card
• Copy of Driving License
• Copy of Voter's ID card
• Job card
• Copy of Proof of date of birth (for minor applicants)
• Initial deposit amount through cash or cheque

Documents Required for Post Office Saving Schemes for Senior Citizen

• Scheme Specific Account Opening Documents
• Recent Passport Size Photograph/s
• KYC Form
• Copy of PAN Card
• Copy of Aadhaar Card
• Copy of Age Proof
• Copy of Driving License
• Copy of Voter's ID card
• Initial deposit amount through cash or cheque

You need to carry the originals of above items with you for verification purpose.

You will also have to self attest all the copies of documents which you are attaching to the application form while opening of account of any of the Post Office Saving Schemes.

Importance of Documentation for Post Office Investments

Colection documenation for post office investments is helpful in verification of identity and address of the investor and through id proof it proves that the investor is a legitimate individual.

Further, proof of age confirms that the investor meets the eligibility criteria for specific schemes (e.g. age requirements for Senior Citizens Savings Scheme or Sukanya Samriddhi Yojana Account).

Collecting documentation is also a regulatory requirement of post office to check adherence to Know Your Customer (KYC) norms and anti-money laundering regulations.

Proper documentation is also a must for tax purposes and for accurate tax filing and compliance. If the investor wants to avail loan against post office saving scheme account, the loan processing becomes easy and smooth, if the account is well-documented.

Post office is also required to maintain a comprehensive record of investments of all its investors for future reference. It also needs to check whether investor is depositing money in the post office saving scheme with in prescribed limit of that particular scheme.

Documents Required for Post Office Saving Schemes for Minor

• Scheme Specific Account Opening Documents
• Recent Passport Size Photograph/s
• For minor account, KYC detail of guardian to be submitted
• Copy of PAN Card of guardian
• Copy of Aadhaar Card of guardian
• Copy of Age Proof of minor
• Proof of Identity of guardian
• Proof of Address of guardian
• Proof of Relationship of guardian with minor
• Initial deposit amount through cash or cheque