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About Post Office Savings

Post office savings are an effective and very viable alternative to usual money saving instruments like a bank account. There are various available post office saving schemes on offer. The post office saving plans offer almost every feature of a saving plan and many of these post office saving schemes also offer income tax benefits and hence most income tax payers also opt for post office savings as a way to save income tax.

The common post office savings are in the form of nsc (national saving certificate), kvp (kisan vikas patra), ppf, post office savings account, post office rd accounts, time deposits, senior citizen savings etc. We at provide some detailed and helpful information on all of these post office schemes. Post office savings are usually meant for small scale savings and investments. The biggest advantage of post office savings are that the huge network of post offices in India makes these schemes useful for rural parts of the country as well. Other investment plans and saving plans usually are not accessible to rural and countryside areas where as the post office saving plans have investors and customers in villages of the farthest areas too.

Post office savings bank is a place to open a post office savings account, rd accounts or time deposit accounts. Most of the features of post office savings accounts as part of the post office savings bank are similar to the bank savings accounts. For example, post office savings accounts also have a minimum balance limit and they also provide a cheque facility. However, a post office savings account like other post office saving schemes is meant for small time savings. That is why the post office savings account also has a maximum limit of deposit which is 100000 for individual post office savings accounts and 200000 for joint post office savings accounts.

Post office savings bank is not only for those who have smaller horizon and smaller savings, but even the affluent class of the society invests heavily in post office schemes. A post office savings account might not be so popular everywhere but as mentioned, has been quite accepted in the remote areas and villages of India. However, the most popular post office schemes other than post office savings accounts are the saving certificates and kvp. Post office savings bank is not only popular in India but many other countries also have similar saving account schemes. More information on post office savings bank can also be found at our portal because we carry good, trusted and easy to understand information on these concepts and schemes.

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