The main financial services offered by the Department of Posts are the Post Office Savings Bank. It is the largest and oldest banking service institution in the country. The Department of Posts operates the Post Office Savings Scheme function on behalf of the Ministry of Finance, Government of India. Under this scheme, more than 20.50 crores savings account are operated. These accounts are operated through more than 1,54,000 post offices across the country
Indian Post offers several Savings Schemes which are: - backed by the Government of India
- safe, secure and risk-free investment options
- not deducting any Tax at Source ( NO TDS)
- providing nomination facility
- transferable to any Post Office anywhere in India
- offering attractive rates of interest.
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