Types of Post Office Saving Schemes in India

Different Types of Post Office Savings Schemes in India

FAQs about Post Office Saving Schemes

When can I close my PPF account prematurely? up-arrow

You can close your PPF account after the minimum lock-in period of 5 years under the following conditions:

  • If you, your spouse, or your children suffer from a fatal disease
  • In case you require funds for your child’s education
  • If you change your residence to another location

Can I manage my post office savings account through the mobile or e-banking facility? up-arrow

Yes, you can manage your post office savings account through mobile and/or e-banking facility. For this, you will have to submit the concerned form to your post office branch after duly filling it. After the application and the verification processes are complete, you will get an activation code with an expiry period of 48 hours. You will have to visit the official website of India Post and use that code to initiate your requested facilities.

On which grounds can I close an SSY account prematurely? up-arrow

You can close your SSY account only after the completion of 5 years, under the following circumstances:

  • In case the account holder passes away
  • On the ground of a fatal disease of the account holder
  • If the guardian who operates the account dies

What are the different fees applicable in maintaining accounts in post office savings schemes? up-arrow

Following are the different fees associated with these schemes:

  • Duplicate passbook issuance: ₹50
  • Issuance of the receipt of the deposit amount: ₹20
  • Nominee change: ₹50
  • Account transfer: ₹100
  • Pledging of account: ₹100