All Small Savings Schemes Now Available In Branch Post Offices

Photo courtesy: Business Insider

New Delhi: The Department of Posts has extended all small savings schemes up to the Branch Post Office level, said an official statement on Saturday.

The step has been taken to strengthen its network and postal operations in rural areas and provide the facility of small savings scheme to the vast majority in villages, reported the Financial Express (FE).

• People living in villages will now be able to get the same Post Office Savings Bank facilities which people in urban areas have been availing. They will be able to deposit their savings into these popular schemes through the post office in their village itself

There are 1,31,113 Branch Post Offices functioning in rural areas. They provide Post Office Savings Account, Recurring Deposit, Time Deposit, and Sukanya Samriddhi Account schemes apart from facilities of letters, Speed Post, Parcels, and electronic money order.

The new order has allowed Branch Post Offices to offer the following facilities:

• Public Provident Fund
• Monthly Income Scheme
• National Savings Certificate
• Kisan Vikas Patra
• Senior Citizen Savings Scheme