How to Open Post Office Savings Account Online

What is a Post Office Savings Account?

The Post Office Savings Account is a deposit account offered by the Government of India through India Post. This is the best investment option for stable return on investment with a fixed interest rate as set by the Reserve Bank of India. 

It is simple to open and manage a Post Office Savings Account, requiring minimal documentation. The account offers facilities like withdrawals, deposits, and passbook updates through any post office branch.

You should check the eligibility criteria mentioned in the next section before learning how to open a Post Office Savings Account online.

Eligibility Criteria of Post Office Savings Account Online

• Residency: Must be a resident of India.

• Age: Individuals aged 10 years and above can apply. Minors can have accounts opened by parents or guardians.

• Documents Needed: PAN card or Form 60/61 (identity proof), proof of address (Aadhaar card, Voter ID, Passport, etc.), and passport-sized photographs.

• Application Process: Initiate online via India Post Payments Bank (IPPB) or state postal department websites. Physical verification of documents may be required later.

• Initial Deposit: Minimum deposit required to open the account varies by account type.

How to Open a Post Office Savings Account Online?

You need to follow these simple steps for Post Office Savings Account opening online:

• Step 1- Visit the official post office website.

• Step 2- Go to the option of ‘savings account’ and choose the option of ‘apply now’.

• Step 3- Fill in the required information like contact number, name, address, date of birth, etc., and click on the submit button.

• Step 4- Verify the details with the documents like Aadhaar, PAN, or any other documents as needed by the bank.

• Step 5- Once you submit all the required documents, they will be verified by the post office.

• Step 6- Once the documentation is verified, the post office will share the welcome kit containing the ATM and debit card, PIN, and check book.

• Step 7- After the activation of the account, the subscriber can register the mobile number and under cheque and debit card for the banking service.

Steps to Open Post Office Savings Account Offline

You can refer to the following steps for an online Post Office Account opening:

• Step 1- Visit the nearest post office.

• Step 2- Collect the savings account application form. Make sure you carry all the identification proof like PAN card, Aadhaar card, and address proof as well.

• Step 3- Thoroughly fill the form with the required details and attach a passport size photo on the form where required.

• Step 4-  After filing the form, submit the post office savings account form to the clerk along with the important documents and money.

• Step 5- The post office savings account will be activated within a week.

Comparison Between

Fixed Deposits, Guaranteed Return Plans & Debt Mutual Fund

Guaranteed Return Plans, Fixed Deposits &
Debt Mutual Fund

Guaranteed Return Plans

Returns Before Tax

7.5% ^(TAX-FREE)

Returns After Tax

7.5%

Guaranteed Returns

Yes

Life Cover

Yes

Tax on Profit

Tax Free*

Risk

No Risk

Still Better than FD’s and Debt Mutual Fund

Fixed Deposits

Returns Before Tax

7% ^(TAXABLE)

Returns After Tax

4.8%

Guaranteed Returns

Yes

Life Cover

No

Tax on Profit

Taxable

Risk

Low Risk

Debt Mutual Fund

Returns Before Tax

8% ^(TAXABLE)

Returns After Tax

5.5%

Guaranteed Returns

No

Life Cover

No

Tax on Profit

Taxable

Risk

High Risk

VIEW PLANS

*For annual premium upto ₹5 Lacs

Overview of Post Office Savings Account

Benefits of Post Office Savings Account

Along with the benefit of guaranteed returns, there are other benefits offered by POSA. Let us take a look at it.

• The post office savings account does not come with any lock-in period.

• As per one’s requirement, one can open a joint account.

• The POSA can be opened in rural areas as well.

• The subscribers can transfer from one branch to another.

• Tax benefits up to Rs.10,000 can be availed.

Other Post Office Savings Schemes:

You can subscribe to the other Post Office Savings Schemes also that offer competitive Post Office interest rates, which are as follows:

*The interest rates of the Post Office Savings Scheme are quarterly reviewed by the Government of India.

Post Office Savings Account Login

Now, you have the facility to access your savings account online. To benefit from this service, you must generate a user ID for internet banking.

1. Process to Activate Indian Post Internet Banking for New Users

   • Visit the e-banking website of Indian Post.

   • Click on ‘new user activation’.

   • Enter the required details like account ID and customer ID.

   • Once the activation process is completed, the subscriber will receive the ‘User ID’.

2. e-Banking Login Process for Post Office Savings Account

   • Visit the e-banking website of Indian Post.

   • Enter your user ID.

   • You will be logged in to the portal and can access your account.

The Bottom Line!

The Post Office Savings Account remains a reliable choice for conservative savers, offering easy accessibility, minimal documentation, and government-backed security. Its simplicity and nationwide accessibility make it a preferred option for individuals seeking a safe haven for their savings.