Post office account holders will also be able to transfer money in real time, read full details

Good news for post office account holders

The Department of Posts has started facilities like NEFT and RTGS for savings account holders. Recently, the Department of Post had given this information by issuing a circular.

if yours too post office (Post Office) If you do, then there is good news for you. So the thing is that now you can also transfer money from your account to another account in real time. Yes, the Department of Posts has started facilities like NEFT and RTGS for savings account holders. Recently, the Department of Post had given this information by issuing a circular. According to the department, the facility of NEFT has been made available from May 18. Whereas RTGS service will be available from May 31. Now let us know what is NEFT and RTGS?

What is RTGS and NEFT

RTGS means Real Time Gross Settlement. Through this you can easily transfer money online. The special thing is that you will be able to transfer money in real time. At least Rs 2 lakh is transferred in RTGS.

There is no limit on the maximum transfer. NEFT i.e. National Electronic Fund Transfer is another electronic mode of payment. This service is available 365 days a year and 24 hours a day. You can easily transfer your money to another account.

The post office NEFT charge will be Rs 2.5 plus GST for Rs 10,000. 5 rupees plus GST for transferring funds from 10 thousand to 1 lakh rupees.

How much will be charged on fund transfer of large amount

Rs 15 plus GST on fund transfer from Rs 1 lakh to Rs 2 lakh. For fund transfers above Rs 2 lakh, you will have to pay Rs 25 plus GST. However, to do NEFT from a post office branch, it is necessary for the customer to have an active post office savings account. Now let’s talk about IFSC Code.

Post Office Saving Bank customers will have a single IFSC code, which will be applicable for all branches and post offices. The post office will have to print the IFSC code on the first page of all Savings, PPF and SSA passbooks.

Now also know about the total post office and the number of account holders. So there are more than 1.5 lakh post offices across the country. Apart from this, there are more than 50 crore savings account holders.

Gagan Patil, Money9