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Sunday, June 23, 2024

Post office saving account balance check in 7 easy ways

Post offices are one of the oldest and most reliable means of transport for many ages. However we often think of saving a small amount, but we choose the wrong one due to a lack of information; a post office savings account is one of the most beneficial ways to save money in small amounts. Moreover, it also provides an appropriate amount of fixed returns on your balance and is considered one of the safest means to save money.

 The minimum interest on a post office savings account is 4% with returns. It is the easiest and best way to save money for your family. Even if you want to invest in other places, you can still open a post office savings account in which you can deposit a particular amount of money every month, and in need, you can withdraw it. However, if the insurer dies and the amount in the account exceeds 60,000, all the money will be provided to the nominee. 

A post office account only requires a little documentation to open. You need some documents and can start saving in your account. Usually, post office accounts are not zero-balance accounts. You must maintain a minimum balance of 500 INR during the period. The individual can withdraw up to 20000 INR from their savings account immediately. If you’re thinking of having something which can help you in the moment of need, then post office savings accounts are considered beneficial. This article will discuss the benefits, features, and eligibility criteria of post office savings accounts. 

Eligibility criteria for post office saving account

There are a large number of people who want to open a savings account as it is an easy way to save money. However, there are some criteria that a person needs to follow so that they can open their post office savings account.

  1. Candidates must have Indian Citizenship.
  2. The individual must be 10 years old or above.
  3. If you want, the individual can open their savings account along with their regular account, and there are also facilities to join them if required.
  4. The parents can open a savings account for the minor offspring, and later, once the child turns into a teenager, they can transfer the account to their name.
  5. If your mentor or guide opened a savings account for you, you can take it over once you turn in.

 Documents required to open a post office saving account

If you’re interested in saving your money, then post office saving accounts are thumps up for you, but for this, you have to submit some of the documents for further procedure:

1.   Aadhaar card

2. Post office saving account opening application form

3. PAN card

4. Voter’s ID card

5. KYC form

6. Driving license

Post office saving account features and advantages 

The post office savings account is one of the growing schemes launched by the government of India for people who want to save their hard-earned income for specific situations. The best part of this scheme is the high investment returns without any risk factors. Here are some of the benefits and features of a post office savings account.

  1. If an individual wants to open their account, they can either open it individually or open an account mutually with some other person.
  2. All the interest on the balance of the accounts is credited to your account at the end of the year.
  3. It gets closed if the insurer fails to pay the regular amount in the account. You can also revive your account by submitting a fresh KYC document application.
  4. There is no maximum limit for the deposition of money.
  5. The savings account also avails the facility of a debit card or ATM card.
  6. Any individual can open a savings account at the age of 10, and once they reach the age of 18, the account will be transferred to their name.
  7. There is a restriction that the single account can not be converted into a joint account, and the same as a joint account cannot be converted into a single account.
  8. The remaining interest will be transferred to another account if the insurer wants to close the account.
  9. If the insurer doesn’t deposit any amount for three consecutive financial years, the account is closed, and all the transactions and the system will stop. However, to revive it again, you have to follow some procedures.
  10. The individual must keep a minimum balance of at least 500 as these accounts are not single-balance.
  11.  There is no such maximum limit for the deposition in the savings account.
  12. Anyone from your branch or rural areas can apply for this scheme.
  13. If an individual wants regular interest, they must maintain a balance of 500 INR.

How do you check post office savings account balances?

Post office savings accounts are accessible, easy-going bank accounts where you do not have to work a lot to maintain a good credit score. However, most of the time, we cannot visit the bank to check the status of our bank account, and at that moment, you need something for a quick check. Here are some of the methods through which you can check the current status of your post office savings account.

  1. Check the post office saving account balance via SMS

If you want to check the account balance through SMS, you can text with “ REGISTER” on the phone number. This number will connect your call directly to the official office.

Once the SMS is received, you can check your balance by sending a text message with the word “BAL” to 7738062873. If you want, you can even send a message with the word “ MINI “ to 7738062873, and you’ll get the quick and short version of the account balance. If all these numbers are unanswered, you can also try sending an SMS with “SUBMIT” to 7738062873.

  1. Check the post office saving account balance via missed call

To check the status of your bank account, you can give a missed call to 8424046556 through your phone. You can check your savings account balance once this number is registered in the post office. However, if you want detailed information about everything, you can call this number again, and you’ll get all the detailed information about your bank account.

  1. Check the post office savings account with the help of the IPPB mobile app

If you want to check your savings account, call through the IPPB mobile app. However, the steps to make a call through IPPB call are:

  • Firstly, you have to download the IPPB mobile app.
  • Then, register your account number, mobile number, date of birth, etc, for quick verification.
  • Once everything is verified, you’ll receive an OTP (one-time password ) on your registered mobile number.
  • Once you complete the OTP, your registration is booming, and you can sign into your account directly. 
  • Once you enter your account, you must create a security PIN. However, with this, you can check the status of your saved account.
  1. Check the post office savings account with the help of the QR code

You can check the balance of your account by scanning the QR code displayed on the quay code. After watching, you’ll get an OTP to confirm the number. Now, you enter your verification code, and all the account balances will appear on your account.

  1. Check the post office balance with the help of phone banking
  • To check the balance, dial 155299 with your registered phone number and follow all the steps mentioned.
  • After this, select the desired language and click on the account information. 
  • Now select the option through which you’ll get to receive all the detailed information.
  • The toll-free number for checking the balance is 155299
  1. Check the post office balance with the help of an ATM card

You can use your ATM card if you want to use the above methods to study your post office savings account balance. All you’ve to do is to follow the below-given steps:

  • First, you must download any money app or UPI app from the Play Store to check the status, such as Google, PhonePay, etc.
  • Once you download it, sign up inside the account with the help of your current phone number and ATM card information.
  • Once you finish all the steps, visit the home page and click on the ‘ check balance’.
  1. Check the post office balance with the help of E–passbook facility
  • You have to visit the official online website of the post office you had your account in.
  • Select the ‘ post office saving scheme’.
  • Click on E – passbook.
  • Once you enter it, enter your mobile number and account details.
  • Once done, you can now check all your account balance details

Post office savings accounts are considered a reliable means to save your money, and you can even earn a good amount of interest on your monthly savings. However, the best part is that if you find any issues with your account, you can directly visit the branch, which is available in almost every region. Moreover, the withdrawal and deposition are pretty straightforward and quick. We’ve discussed all the required details regarding the post office savings account balance check and how it will help you in your subsequent trial.

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