How Post Office New Account Opening Online & Offline Can Be Done?

As India is growing at a fast pace, there’s a need for financial inclusion, which means encouraging everyone to use the financial services provided by Banks, Non-Banking Financial Companies and other institutions. Especially, the plan is to concentrate on the rural sectors and the semi-urban areas, where most people don’t hold a savings bank account. Under the Pradhan Mantri Jan Dhan Yojna, the government aims to provide really cheap or free financial services so that it is easily accessible to the low income groups. In order to facilitate this movement, public sector and private sector banks are offering free of cost opening of savings bank account. But the reach of these banks or the penetration is very low. Only one institution has the most penetration in rural sector as well as urban sectors - the Indian Post Office. You wouldn’t know, but the India Post Office provides Account Opening Services both offline and online. Let’s take a look at how you can do a Post Office New Account opening online & offline.

How can I open a New Post Office Account Online?

Everything in India is digitising from paying your electricity bill to paying the rickshaw guy. In some years, cash transactions will fade out to major extent, obviously, not entirely. To be a part of the digital revolution in India, the India Post Office has also launched something called the Digital Savings Account for the tech savvy customers. No minimum balance is required to keep the account going. You get to avail attractive interest rate on your savings. In addition, you can make easy payments and do fund transfer using the IPPB app online. All of these facilities can be achieved from the convenience of your home. You can also open a new account by enjoying the comfort of your home. All you have to do is download the IPPB App from the Playstore or from the Appstore.

How can a New Post Office Account Be Done Offline?

If you are not comfortable in taking the online route, you always have the option to take the offline route. The penetration of India Post Office is very high. So it is possible that you might find a branch very close to your house. All you need to do is visit the branch and follow the following steps:

• Get a form from the nearest post office branch or you can even download the application form online.
• Fill the form properly, do not miss out any detail. 
• Submit it along with the necessary KYC documents and 2 recent passport size photographs.
• A minimum amount needs to be deposited while opening the account. You are required to deposit atleast INR 20. 
• The maximum initial deposit accepted by the Post Office is INR 1 lakh and 2 lakh in the case of joint accounts.
• If you want to open a post office account without a cheque, a minimum of INR 50 needs to deposited.
• And congratulations, your account will be opened.
• For senior citizens, separate forms are available.  
  

What are the Documents Required for Post Office New Account Opening Online & Offline Process?

Before you open just check if you meet the eligibility criteria. Don’t worry, it is very easy to meet. These documents are required to be produced at the time of application:

• Identity Proof : Aadhar Card/ PAN/ Voter’s ID Card/ Passport/ Driver’s License/   Ration Card  
• Proof Of Residence: Ration Card/ Telephone Bill/ Electricity Bill/ Driver’s License/ Bank Passbook
• 2 Recent Passport Size Photographs.