The best part with post office deposit schemes is that the investment made in it is completely safe. The money invested in its scheme can never be sunk, because the government’s sovereign guarantee is available on it.
Investments made in post office schemes are completely safe.
The post office runs different savings schemes for the personal financial benefit of the general public as well as senior citizens. A total of nine schemes including Post Office Savings Account, Post Office Recurring Deposit Account, Sukanya Samriddhi Account, National Savings Certificate are being run by the Post Office. All these plans are best in their category and safe. The best part with post office deposit schemes is that the investment made in it is completely safe. The money invested in the post office scheme can never be sunk, because the government’s sovereign guarantee is available on it.
To open an account in these post office schemes, you can go to the post office by filling the application form or digitally using the India Post Payments Bank (IPPB) app. IPPB now allows people to make digital payments to their Post Office Recurring Deposit, Sukanya Samriddhi Yojana and PPF account.
First open this account
Account holders should be aware that in order to make digital payments to their post office savings schemes, they must first open an India Post Payments Bank Savings Account (IPPB SB). After the opening of this account, you will be able to make online digital payments in post office schemes.
IPPB offers its customers digital savings accounts which they can access from the convenience of their homes. This account can be opened by a person of 18 years of age and KYC procedures have to be completed within 12 months to keep the account operational. You can deposit up to a maximum of Rs 2 lakh in this account. A digital savings account can be converted into a regular savings account and a digital savings account can be linked to a POSA post office savings account after fulfilling the KYC norms.