Have A Saving Account In Post Office? Here Are The ATM Charges You Have To Pay
Do you have a savings account in a post office? Besides providing several mailing services, India Post offers personal banking and remittance services. India Post offers several types of accounts such as saving account, monthly income scheme account, senior citizen savings scheme (SCSS) account and time deposit account. The saving account of India Post, which has a network of more than 1.5 lakh post offices across the country, comes with an ATM facility. Called Post Office Savings Account, the account can be opened by paying a minimum of Rs 20, according to the India Post's website - indiapost.gov.in. India Post offers an interest rate of 4 per cent on the balance in the savings account.
Here are various limits stipulated on ATM transactions and various charges levied by India Post:
| India Post (post office) ATM transaction limits/charges | |
|---|---|
| ??Daily ATM cash withdrawal limit | Rs 25,000 |
| Cash withdrawal limit per transaction | Rs 10,000 |
| ?Charges for transactions done at Department of Post ATMs | Free (Both Financial & Non Financial) with a limit of 5 Financial transactions per day |
| Permissible free transactions at other Bank ATMs per month (Both Financial & Non Financial)Â | Metro Cities - 3 free transactions |
| Non Metro Cities - 5 free transactions | |
| Charges after exceeding permissible free transaction limit at other Bank ATMs (Financial & Non Financial Transactions) | Rs 20 + Applicable GST? |
| (Source: indiapost.gov.in) | |
Transaction limit
India Post currently permits cash withdrawals up to Rs 25,000 per day through its ATM card. A cash withdrawal limit of Rs 10,000 per transaction is applicable, according to its website.
Using the India Post ATM card, an account holder is permitted five transactions of financial nature per day.
Those using the India Post ATM card to transact at ATMs of other banks in metros are allowed a total of three transactions per month free of cost. ATM card holders are allowed five transactions free of cost in other banks' ATMs located in cities other than metros, according to India Post.
Transaction charges
India Post ATM card holders exhausting the permissible number of transactions at ATMs of other banks have to pay a fee of Rs 20 (plus GST) for every additional transaction, according to the post office website.
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
-
You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
-
Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
-
FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
-
Everything, Everywhere, All At Once: Dalal Street's Week To Forget | Joining The Dots
Visa curbs, a Starlink spat and cancer drug caps: what connects this week's shocks for Indian markets
-
India Is Going Abroad For Critical Minerals. But It May Take Years To Pay Off | The Reason Why
Although India's steps are in the right direction, they remain modest compared with India's growing dependence.
-
When Everyone Has AI, What Gives You An Edge?
India's young workforce is entering an uncertain world of work where powerful AI tools are becoming widely accessible. The advantage will belong to those who combine deep expertise with digital fluency, and the distinctly human capabilities that technology cannot manufacture.
