How safe is Indian Post Office Bank?
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How safe is Indian Post Office Bank?
The deposited money remains safe as the government provides security. Availing the FD facility in post office banks is very easy. According to the postal department, a user can avail the FD facility with 1,2, 3 and 5 years of maturity.
Does the post office have a future?
Washington, DC – The United States Postal Service today released its 10-year Plan, ‘Delivering for America’, to return the organization to financial sustainability and achieve service excellence while maintaining universal six-day mail delivery and expanding seven-day package delivery.
How can I save money at the post office?
- Post Office Savings Account(SB)
- National Savings Recurring Deposit Account(RD)
- National Savings Time Deposit Account(TD)
- National Savings Monthly Income Account(MIS)
- Senior Citizens Savings Scheme Account(SCSS)
- Public Provident Fund Account(PPF )
- Sukanya Samriddhi Account(SSA)
Which is better post office or bank?
The Post Office Time Deposit Account (TD) is much better than bank FD. In this, you get 6.7 per cent interest for five years. One of the most preferred investments of post office is Time Deposit Scheme.
Why is the post office so slow?
The simple answer: Your mail may slow down because the Postal Service lengthened its “service standards,” or the amount of time it says it should take for a piece of mail to get delivered. And how much slower it will get depends on where you live.
Is the post office safe for savings?
Your eligible deposits with Bank of Ireland (UK) plc are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme. This limit is applied to the total of any deposits you have with the following: Bank of Ireland UK and Post Office Money.
Is it good to save money in post office?
In the Post Office saving scheme, your money is secure and so also your return. Here’s one investment in which the risk is negligible and the returns are also good and Post Office Recurring Deposit is one of them as an investment avenue.
Is it good to invest in post office savings schemes?
Secondly, the biggest plus point for Post office Savings Schemes is trust factor because of Govt of India backing. Despite have some of the Best Financial Products in the portfolio, it is not recommended to invest in Post Office Savings Schemes…Let’s find out why
Did You Know you can open a savings account in post office?
Not many people know, but one can now open a savings account in a Post Office. With the Government of India pushing to make banking services available to all, especially those hailing from rural and semi-rural areas, Post Offices now are offering savings account schemes at attractive interest rates.
What is your opinion about post office staff in India?
Unfriendly Post office Staff: No offence to anyone but in my opinion, Post Office staff is very unfriendly. They treat their customers as if they are doing some big favor to customer. Despite being PSU State Bank of India and Bank of Baroda has done a commendable job in this regard.
What is the rate of interest in post office savings account?
Post Office Savings Account Post Office Savings Account Interest payable, Rates, Periodicity etc. Minimum Amount for opening of account and maximum balance that can be retained. 4.0\% per annum on individual / joint accounts. Minimum INR 20/- for opening.