The Department of Posts (Indian Post office) submitted application before the RBI for a license to offer full-fledged banking services. ‘We have approached RBI today and hopefully having met all the conditions of RBI, an in-principle approval might be given.…
Tag: post office
Small Savings
You can find here notifications/update on Small Saving schemes from Post offices in India.
Senior Citizens Savings Scheme
Post Office Small Savings
This section of savingwala.com offers information about various savings and investments plans available to residents of India via. Indian Post offices. These schemes are popular among each and every section of society as they offers higher returns without any risk/loss.…
Post Office Recurring Deposit Accounts
A post office recurring deposit account (RDA) is similar to a recurring deposit in a bank, where you can invest a fixed amount on a monthly basis. The postal RDA has a fixed tenure of five years.
Monthly Income Scheme (MIS)
Indian post office monthly income scheme (MIS) provides for monthly payment of interest income to investors. The monthly income scheme is best for retired persons having lumpsum amount for investment.
Time Deposit
Post office Time deposit scheme is a type of fixed deposit account offered by Department of post, Government of India at all post office. This saving plan is best for those investors who want to deposit a lump sum for a fixed period. Investor gets a lump sum (principal + interest) at the maturity of the deposit, where rate of interest on investment depend on the term of deposit.