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Post Office Premium Savings Account: Depositing money in the post office is considered the safest, as it is operated by the government. Most people invest in the post office under the Small Savings Account. People are given many investment options under the Small Savings Scheme. This includes schemes ranging from senior citizens to children. Any citizen can invest in these schemes. Equal facilities are given to all under these accounts.
Similarly, Premium Saving Account is also opened by the Post Office, under which many facilities are given to the people. Under the premium savings account, people are given facilities ranging from cashback to loan, doorstep banking. Let us know how to open this account and who can take advantage of it.
Features of Post Office Premium Savings Account
The most important thing about the premium savings account of the post office is that unlimited money can be withdrawn and deposited in it. At the same time, doorstep facility can also be availed under this account just like banks. The loan under this account is also given by the Post Office Loan. Similarly, if you pay bills etc. from this account, then cashback is also given. Along with this, physical and virtual debit cards are also issued.
Who can avail the Premium Savings Account
If you go to the website of the post office, it is known that any minor or youth above the age of 10 years can open this account. However, it is mandatory to get KYC done for this. If KYC is not done, then this facility cannot be availed. You can get it opened by visiting the postmaster or post office branch.
how much does it cost
On opening a premium account under post office, you will have to pay GST more than Rs 149. Also, for renewal, you will have to make an annual payment of Rs 99 plus GST. There is no limit of minimum balance under this account, but still you have to pay Rs.200 while opening the account.
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