Within one year of opening an account on the phone, the user has to go to a post office with his Aadhaar and PAN.
It was a few years ago that opening a savings account in a government bank was a complicated process. Then all the forms had to be filled. Another account holder in the bank had to sign the form that they know you. With this, a lot of waiting had to be done.
But, now this phase has passed. Now such facility is being available in the post office that you can open your savings account without going to the post office.
However, it may sound a little surprising, but you can open your account through phone without anyone’s help. All you have to do is to enter some basic information. Here we are explaining the entire process to you.
This is the whole process
First, you have to download the IPPB mobile app on your Android phone. Also, the person opening the account must be over 18 years of age.
The next few steps to open an account are as follows:
1. After installing the app, the applicant has to click on the open account.
2. You have to put PAN and Aadhaar number in it.
3. After this, an OTP will come on your mobile. It has to be recorded.
4. After this, you have to enter some personal information. These include information like your mother’s name, educational qualification, address and nominee.
After filling these information, your account will be opened and you can do transactions in it.
Must go to post office within a year
Within one year of opening an account on the phone, the user has to go to a post office with his Aadhaar and PAN where the user’s biometrics are taken and after that your account becomes regular.
If you do not complete this process within a year, then your account can be closed.
The facility was launched in 2018
Account opening facility on cellphone was launched in 2018.
The post office has played an important role in the direction of financial inclusion. Also, by 2026, the number of smartphone users in the country is expected to increase to 100 crores. In such a post office can prove to be very important for financial inclusion.
Three types of accounts can be opened in Post Office Payments Bank. Regular, Digital and Basic. Only four times a month can be withdrawn from a basic account. However, a total deposit of Rs 2 lakh is allowed in a digital account in a year. Customers get 2.75 percent interest on this.
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We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at informalnewz@gmail.com
