Service Charges for Post Office Saving Schemes
Founded on 1st October 1854, Indian Post office is one of the largest and oldest organizations in India which is a government-operated postal system. Post offices in India offer various investment avenues to the people of India through their vast network of over 1.55 lakh post offices and around 5.70 lakh employees.
People invest in various schemes of post office for getting fixed guaranteed return with safety. When they invest in different schemes of post office such as RD, savings account, KVP, MIS, etc., they need to pay certain fees towards these post office services.
They should know about the charges towards availing such services like getting a new cheque book, issuing of duplicate pass book, transferring account, changing nomination, issue of account statement etc.
Post Office: Schedule of Fee
Different post office services have varying service charges. Outlined below is a look at the various services charges.
| Purpose | Charges |
|---|---|
| Issue of duplicate pass book | Rs. 50 |
| Issue of statement of account or deposit receipt | Rs. 20 in each case |
| Issue of pass book in lieu of lost or mutilated certificate | Rs. 10 per registration |
| Cancellation or change of nomination | Rs. 50 |
| Transfer of account | Rs. 100 |
| Pledging of account | Rs. 100 |
| Issue of cheque book in Savings Bank Account | No fee for upto 10 leafs in a calendar year and thereafter at Rs. 2 per cheque leaf |
| Charges on dishonour of cheque | Rs. 100 |
Tax as applicable on the above service charges are also payable.
Charges of ATM transactions
| Transaction Type | Charges |
|---|---|
| Daily ATM cash withdrawal limit | Rs.25000/- |
| Cash withdrawal limit per transaction | Rs.10000/- |
| Charges for transactions done at DOP ATMs | Nil. |
| Free transactions at other bank ATMs (Per month) |
|
| Charges after free transactions at other bank ATMs | Rs.20/- + GST per transaction (For financial &non financial transactions) |
Other Transactions
| Transaction Type | Charges |
|---|---|
| Debit Card Replacement Charges | Rs.300/- + GST |
| Duplicate PIN/Regeneration of PIN through Branch | Rs.50/- + GST |
| ATM/POS transaction Technical declines attributable to customer (i.e. lack of balance in account) | Rs.20/- + GST |
| ATM/Debit Card Annual Maintenance Charges | Rs.125/- + GST |
| SMS Alert charges per annum from Debit card Holders | Rs.12/- (incl GST) |
Post Office Saving Schemes Interest Rates
| Serial Number | Investment Option | Rate of Interest (p.a.) |
|---|---|---|
| 1 | Post Office Savings Account | 4% payable annually |
| 2 | Post Office Recurring Deposit | 6.70% per annum compounded quarterly |
| 3 | Post Office Monthly Income Scheme (MIS) | 7.4% per annum payable monthly |
| 4 | Post Office Time Deposit (POTD) | 1yr:6.9%, 2yr:7.0%, 3yr:7.1% & 5yr:7.5% |
| 5 | Kisan Vikas Patra (KVP) | 7.5% compounded annually |
| 6 | Public Provident Fund (PPF) | 7.10% compounded annually |
| 7 | Sukanya Samriddhi Yojana (SSY) | 8.2% compounded annually |
| 8 | National Savings Certificate (NSC) | 7.70% compounded annually |
| 9 | Senior Citizen Savings Scheme (SCSS) | 8.20% payable quarterly |
| 10 | Mahila Samman Savings Certificate (MSSC) | 7.50% compounded quarterly |