Post office savings account handy for the customers affected by the recent hikes in banking charges
Posted on: 08/Mar/2017 5:03:13 PM
The banks have recently announced additional charges when the number of transactions exceeds a preset limit. In addition, the banks have also set a revised minimum balance amount.
In this scenario when the bank customers are put to hardships because of the above, their post office savings account comes in very handy.
However, there is no sufficient awareness among the public about the convenience and the benefits of having a post office savings account.
There are no restrictions in the number of transactions in the post office savings account system. Another main feature is that a minimum balance of only Rs. 50/- is required in the post Office Savings Account.
In this regard, the Head of the Postal Department, Mr. M. Sampath, explained that the banks have now decided additional charges for exceeding the limit of the preset number of transactions. This will definitely affect the bank savings account holders.
In order to get relief from this additional burden, they can open a post office savings account. The minimum balance required is Rs. 50/- only.
Again, the bank account holders can open a new post office savings account, obtain the ATM card, and avail any number of transactions by operating on other banks ATMs without any additional charges.
It is rather very simple to open a post office savings account. Only a passport-size photograph and proof of residence is required for opening the post office savings account.
There are 2612 Post Offices in the state of Tamil Nadu. There are 94 head Post Offices and 1312 branch post offices in rural areas and 1206 branch post offices in the urban areas for a total of 2518 Post Offices.
In addition, there are 8947 part-time branch post offices in rural areas and 331 in urban areas.
Apart from all the above facilities, the core banking facility is available in 2513 post offices throughout the country. There are 97 post office ATMs in the state of Tamil Nadu.
So, it is the best for the public to open a post office savings account immediately and enjoy and avail the facility of unlimited financial transactions.
