One of the government-backed institutions that gives the average person a variety of ways to save money and get returns on investments is the Post Office. India Post Payments Bank (IPPB) savings plans are very popular with people who want to save for the long term.
The Premium Savings Account is one such account with the Post Office that provides customers with high-quality services, numerous benefits, and value-added services.
The Premium Savings Account is a variant of the IPPB Savings Bank Account, according to the official website. Customers seeking premium amenities and value-added services can take advantage of it.
PO Premium Savings Account –
The IPPB provides the Premium Savings Account with the following value-added features:
Post Office Savings Account
(POSA) can be linked to a PSA (Post Office Savings Account Eligibility, Requirements, and Pricing) The Premium Savings Account can be opened by any Post Office customer over the age of 10 with mandatory KYC. The facility for free cash deposit and withdrawal is available at the doorstep. In PSA, account holders are only required to keep an average annual balance of Rs 2,000. The following are the prices for a Premium Khata Account:
Costs for a new customer to open an account:
Rs. 149 for existing customers to open an account: All customers pay a yearly renewal fee of Rs 149: Note: Rs 99 Interest rates The Post Office Premium Savings account offers a 2% interest rate on balances up to Rs 1 lakh. GST is not included in these costs. The interest rate is 2.25 percent for balances above Rs 1 lakh and up to Rs 2 lakh.
Please visit the official IPPB website for a comprehensive list of costs associated with Premium Savings Account services.
