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Central Government News

MINIMUM BALANCE REQUIREMENTS IN INDIA POST ACCOUNTS AND OTHER DETAILS

INDIA POST ACCOUNTS As we know, India Post, under the Department of Posts (DoP), offers a host of services. Besides delivering mails, India Post also offers a range of financial and retail services. These include small savings schemes such as PPF Public Provident Fund (PPF) and National Savings Certificate (NSC), bill collection and sale of forms. India Post also offers savings accounts. India Post’s savings accounts – with or without cheque book – are among the most popular of its products, say financial experts. Post office savings accounts are opened by cash only, according to India Post. But what is the interest rate offered in post office savings accounts? And what is the minimum balance permitted in these accounts? What are the other services offered by it? Post office savings accounts interest rate India Post currently offers an interest rate of 4 per cent on individually or jointly-held post office savings accounts, according to its website – indiapost.gov.in. The interest earn...