1.

What do you mean by saving services offered by the postal department? List out the saving services offered by the department.

Answer»

Saving services:

The postal department provides several saving services similar to those offered by the banks.

Just like we open and maintain a savings bank account we can open a savings account in post office as well. The post office also issues cheque books and ATM cards to the account holders.

List of services offered:

  • Opening a saving account
  • Recurring deposit scheme
  • Time deposit
  • National Saving Certificate (NSC)
  • Kisan Vikas Patra (KVP) for 5 or 10 years
  • Public Provident Fund (PPF) for 15 years
  • Monthly Income Service (MIS)
  • Senior Citizen Savings Scheme (SCSS)
  • Sukanya Samridhi Account


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