The Post Office has launched an online investment facility for several of the schemes and accounts that you can open with it. The facility has been made available for Post Office Savings Account, Post Office Term Deposit, Recurring Deposit, Public Provident Fund (PPF) and National Savings Certificate (NSC).
Eligibility for starting online Post Office Investments
- Valid and active single or joint savings ‘B’ account
- Required KYC documents if not already submitted
- Active Post Office ATM/Debit Card
- PAN Number
- Mobile Number
- Email address
Which Post Office transactions can be done online
You can now perform the following transactions through the online Post Office Account:
|Initiate fund transfer within Department of Posts|
|PPF Contribution / Loan repayment|
|Loan on PPF|
|RD half withdrawal repayment|
|Tax Deducted at Source (TDS)|
|View recurring/standing instructions|
|View Incomplete Transactions.|
How to register for online Post Office online services/internet banking
- Visit your home branch
- Fill the pre-printed application form and submit the required documents.
- Your Department of Posts (DOP) internet banking will get activated from next working day.
The Post Office offers a number of investments including the ones mentioned above as well schemes like Post Office Monthly Income Scheme (MIS), PPF, Kisan Vikas Patra, Senior Citizens Savings Scheme and Sukanya Samriddhi Yojana. You can view their rules and latest rates here. A key advantage of Post Office Fixed and Recurring Deposits is that unlike Bank FDs, no TDS (Tax Deducted at Source) is applicable to the same.