Considered in the NBFC category, this institution makes it easier for people to become homeowners thanks to different loan options. Since it is a government agency, it provides maximum trust to users. The banking systems offered by the India Post are provided at low-interest rates and high term. In this way, anyone with different economic income levels can benefit from this alternative. For more information on India Post, see the rest of the article.
India Post Benefits
Premature Withdrawal & Tax Savings
Premature withdrawal and tax saving options allow users to maximize benefit from India Post. The tax saving option allows users to save maximum. With the Postal Life Insurance option, you can obtain your insurance package with advantageous policies from a highly reliable institution. Thanks to the wide scope of policies, you will be able to benefit from policies in quite different areas in your life.
Online and Mobile Banking
The India Post is highly developed in terms of online facilities. You can download the mobile app from the Google Play Store and access all mobile banking services through this app.
The banking services offered by the institution can be listed as post office savings scheme, money order, international money transfer services, Jansuraksha Scheme scheme, mutual funds, national pension system, India Post Payments Bank.
If you want to save money and make your dreams come true, India Post savings accounts can help you raise your money with high-interest rates. Alternatives such as Post Office Savings Account, National Savings Recurring Deposit Account, National Savings Time Deposit Account, National Savings Monthly Income Account, Senior Citizens Savings Scheme Account are included in this scope.
The tenure range offered by India Post varies between 1 Year to 5 Years.
The compounding system works quarterly.
The score of the India Post in the system of Crincil rating is 4.5 from 5.
India Post FAQs
Of course, each credit type has a different interest rate. The individual’s credit score also has an effect on the interest rate required by the India Post. However, it can be said that the general interest range changes between 6.8% - 7.6%.
Different kinds of the application need a different document. However, there are similar documents for all the applications. These are address proof and ID proof.