Last Reviewed: September 2026 | Interest rate valid for FY 2026-27 as per Ministry of Finance
Post Office Savings Account Interest Rate 2026-27
| Feature | Details |
|---|---|
| Interest Rate FY 2026-27 | 4.0% per annum |
| Interest Calculation | Minimum balance between 10th and last day of each month |
| Interest Credit | Annually — credited once a year to account |
| Minimum Opening Balance | Rs 500 |
| Minimum Balance to Maintain | Rs 500 (Rs 500 with cheque facility) |
| Maximum Balance | No limit |
| Tax on Interest | First Rs 10,000 tax-free under Section 80TTA (Rs 50,000 for senior citizens under 80TTB) |
| Government Guarantee | Sovereign guarantee from Government of India — stronger than Rs 5 lakh DICGC bank insurance |
All Post Office Savings Schemes — Interest Rates 2026
| Scheme | Interest Rate 2026 | Tenure | Best For |
|---|---|---|---|
| Savings Account (SB) | 4.0% p.a. | No lock-in | Liquid savings |
| Recurring Deposit (RD) | 6.7% p.a. | 5 years | Monthly savings habit |
| Time Deposit 1 Year | 6.9% p.a. | 1 year | Short term FD |
| Time Deposit 2 Year | 7.0% p.a. | 2 years | Medium term FD |
| Time Deposit 3 Year | 7.1% p.a. | 3 years | Medium term FD |
| Time Deposit 5 Year | 7.5% p.a. | 5 years | 80C tax saving FD |
| Monthly Income Scheme (MIS) | 7.4% p.a. | 5 years | Monthly income for retirees |
| Senior Citizen Savings Scheme | 8.2% p.a. | 5 years | Senior citizens |
| PPF | 7.1% p.a. | 15 years | Long term — EEE tax benefit |
| Sukanya Samriddhi | 8.2% p.a. | 21 years | Girl child education/marriage |
| NSC | 7.7% p.a. | 5 years | 80C tax saving |
| Kisan Vikas Patra | 7.5% p.a. | 115 months | Doubles money in 9.5 years |
| Mahila Samman Savings Certificate | 7.5% p.a. | 2 years | Women only — partial withdrawal allowed |
How to Open Post Office Savings Account 2026 — Documents Required
Eligibility:
- Any Indian citizen above 10 years of age
- Minors above 10 can open and operate independently
- Minors below 10 — parent or guardian opens on their behalf
- Joint account — maximum 3 holders
- NRI customers: Cannot open new Post Office savings accounts. Existing accounts opened before becoming NRI can continue until maturity
Documents required:
- Aadhaar card (mandatory for KYC)
- PAN card (mandatory for deposits above Rs 50,000)
- Recent passport-size photograph (2 copies)
- Address proof if Aadhaar address is different from current address
How to Open Post Office Savings Account Online 2026
- Visit indiapost.gov.in or download IPPB mobile app
- Click Open Account and select Savings Account
- Enter Aadhaar number and complete eKYC verification
- Enter PAN number and personal details
- Link your existing bank account for initial deposit transfer
- Account opened digitally — passbook and ATM card dispatched to address
Note: Full digital opening available in select cities via IPPB. In rural areas or for first-time applicants, a post office branch visit may still be required for KYC verification.
How to Open Post Office Savings Account at Branch (Offline)
- Visit your nearest post office with original documents
- Request Post Office Savings Account (SB) Form from counter
- Fill name, address, nominee details, and initial deposit amount
- Submit form with self-attested Aadhaar and PAN copies and photographs
- Make initial deposit of minimum Rs 500 in cash
- Passbook issued immediately — ATM card dispatched within 10 days
Post Office Savings Account Features 2026 — What Has Changed
- ATM card: Available — withdraw from any bank ATM (interoperable)
- Cheque book: Available on request — maintain Rs 500 minimum balance
- Net banking: Available via DOP Internet Banking at ebanking.indiapost.gov.in
- Mobile banking: IPPB app — balance check, fund transfer, bill payment, NEFT/RTGS
- NEFT/RTGS: Now available for transfers to and from Post Office accounts
- UPI: Available via IPPB app — scan and pay at any UPI merchant
- Nomination: Mandatory from 2026 — nominee can operate account on behalf of account holder
- Transfer: Account can be transferred to any post office in India
- Dormancy: Account becomes dormant after 3 years of inactivity — reactivate at branch
Post Office Savings Account vs Bank Savings Account 2026
| Feature | Post Office Savings Account | Bank Savings Account |
|---|---|---|
| Interest Rate | 4.0% p.a. | 2.5% to 7% (varies by bank) |
| Government Guarantee | Sovereign guarantee — unlimited | DICGC insurance up to Rs 5 lakh |
| Minimum Balance | Rs 500 | Rs 0 (zero balance) to Rs 10,000 |
| Network | 1.65 lakh post offices | Bank branches + ATMs |
| Digital Features | Basic — IPPB app, net banking | Advanced — full mobile banking |
| NRI Eligibility | No — new accounts not allowed | Yes — NRE/NRO accounts |
| Tax on Interest | Rs 10,000 free (80TTA) | Rs 10,000 free (80TTA) |
| Best For | Rural areas, safety, senior citizens | Urban areas, digital banking users |
Post Office Savings Account for Kerala and Gulf Malayalee Families 2026
- Post Office savings accounts are popular in Kerala for senior citizen parents of NRI Gulf Malayalee families
- Kerala has over 1,500 post offices — accessible in every taluk and village
- Senior Citizen Savings Scheme at post office offers 8.2% interest — ideal for retired Kerala parents
- Monthly Income Scheme (MIS) at 7.4% provides monthly income — popular among retired government employees in Kerala
- NRI customers in UAE, Saudi Arabia, Oman, Gulf — cannot open new post office accounts but can open accounts for parents in Kerala before NRI status
- Post Office PPF (7.1%) and NSC (7.7%) are popular tax-saving investments for salaried Kerala government employees
Frequently Asked Questions — Post Office Savings Account 2026
What is the Post Office Savings Account interest rate in 2026?
Post Office Savings Account interest rate for FY 2026-27 is 4.0% per annum. Interest is calculated on the minimum balance maintained between the 10th and last day of each month and credited annually. First Rs 10,000 of interest earned per year is tax-free under Section 80TTA for general customers and Rs 50,000 for senior citizens under Section 80TTB.
What is the minimum balance for Post Office Savings Account in 2026?
Minimum balance for Post Office Savings Account in 2026 is Rs 500. This applies both at account opening and as ongoing minimum balance to avoid account becoming dormant. There is no maximum balance limit on the Post Office Savings Account.
Is Post Office Savings Account safe in India in 2026?
Yes. Post Office Savings Account carries a sovereign guarantee from the Government of India — meaning the full deposited amount is backed by the central government with no upper limit. This is stronger protection than the Rs 5 lakh DICGC deposit insurance that covers bank accounts. It is one of the safest savings instruments in India.
How to open Post Office Savings Account online in 2026?
Open Post Office Savings Account online via indiapost.gov.in or the IPPB mobile app. Enter Aadhaar for eKYC, provide PAN, link existing bank account for initial deposit, and submit. Account opened digitally in select cities. For rural areas or first-time applicants, visit your nearest post office branch with Aadhaar, PAN, photograph, and Rs 500 cash.
Can NRI customers open Post Office Savings Account in India?
No. NRI customers cannot open new Post Office savings accounts in India. Existing accounts opened before becoming an NRI can generally continue until maturity. NRI customers in UAE, Saudi Arabia, Oman, and Gulf countries should instead open NRE or NRO accounts at banks like SBI, HDFC, or Federal Bank for Indian savings.
What is the best Post Office scheme for senior citizens in 2026?
Senior Citizen Savings Scheme (SCSS) at 8.2% interest per annum is the best post office scheme for senior citizens in 2026. For monthly income, the Monthly Income Scheme (MIS) at 7.4% is ideal. Interest up to Rs 50,000 per year is tax-free for senior citizens under Section 80TTB. Both schemes are available at all post offices across India including Kerala.
Does Post Office Savings Account have ATM card and mobile banking in 2026?
Yes. Post Office Savings Account now offers ATM card, cheque book, net banking via ebanking.indiapost.gov.in, and mobile banking via IPPB app. UPI payments, NEFT and RTGS transfers are also available. These digital features have improved significantly since 2020 making the Post Office account comparable to basic bank accounts for digital transactions.
Which Post Office scheme doubles your money fastest in 2026?
Kisan Vikas Patra (KVP) doubles your money in 115 months (9 years and 7 months) at the current rate of 7.5% per annum in 2026. There is no maximum investment limit. Available at all post offices across India. No tax deduction benefit but the doubled maturity amount is tax-free if held to maturity.
Related Banking and Finance Guides
- Post Office Timings India 2026 — Opening Hours Guide
- Best FD Interest Rates India September 2026
- SBI Banking Complete Guide 2026
- How to Write a Cheque in India 2026
- Income Tax Calculator India 2026-27
- FD Returns Calculator India 2026
Post office savings bank account
You can open a Post Office Savings Account easily and operate it like regular Banking Account. Department of Post now offers different banking facilities like Online Banking, ATM Cards etc. You can open Savings Bank(SB), Recurring Deposit(RD), Time Deposit(TD), Monthly Income Scheme(MIS), Post Office Term Deposit etc Accounts in the Post Office.
In a Post Office savings account the amount deposited can be withdrawn at any time as per the depositor’s needs.
Follow the below steps to Opening a Post Office Savings Account:
- Download Post Office Savings Bank Account Opening Form or Collect the form from a Post Office.
- Fill the form and submit it along with your ID Proof and Photograph (Find below the Documents Required)
- Pay the Minimum INR 20/- for opening. (Minimum balance to be maintained in Savings Bank Account (SB) without Cheque Book (is INR 50/-)
- Your Post office Savings account is Opened.
Note: Only one account can be opened in one Post Office.
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You can open a Post Office Savings account in any Post Office.
Read Also: SBI ATM Pin Generation (Green PIN Process).
To open a Post office Savings account, you need to submit the following documents.
- An Address Proof (You can submit Ration Card with current Address, Electricity Bill, Telephone Bill of not more than three months old, Bank or Post Office Passbook/Statement with current address, Passport, Salary Slip of reputed Employer with current address, Aadhaar or the letter issued by the Unique Identification Authority of India (UIDAI) as the address proof).
- An ID Proof (Aadhaar or the letter issued by the Unique Identification Authority of India (UIDAI), Electoral Photo Identity card, Ration Card with photograph, Passport, Driving License, Photo Identity Card issued by recognized, University/ Education Board/ /College/School, Identity card from Central/State Government or PSU.)
- 2 Passport Size Recent Photographs
- Minimum Balance Amount
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To know more about the Documents required to open the Post office Savings account, you can download the Post Office KYC Norms here.
Post Office KYC Form can be downloaded from here.
Read Also : SBI Mobile Number Registration for Balance Enquiry (one step at a time procedure)
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You can easily open a savings account in the Post Office for :
- Minors with minimum age 10.
- A guardian on behalf of a minor
- Adults with Valid KYC Documents ( 2 or 3 Adults can open a Joint Account also)
- A person of unsound mind
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To open a Post Office Savings account, visit any near by Post Office and Submit the duly-filled and signed form along with the above mentioned required KYC documents, Passport Size Photographs and the minimum balance amount.
Note that there is a separate form for the senior Citizen and To Open a Savings Account, a Post Office Savings Bank Account holder introduction is compulsory.
Also, note that you can open only one single account and one Joint account can be opened at one Post Office.
Can I Open Post Office Account Online?
It is a common question most people ask. Right now You can‘t open the Post Office Savings Account Online. The Department of Postal (DoP) not yet provided post office savings bank account online opening option.
You need to download the Post Office Savings account application form online and submit it to your nearby Post Office to open the Post Office Savings Account.
To know Post Office Savings account Opening Procedure Call the Toll Free Number: 155299
Read Also: How to Apply for new SBI ATM Card Online
What are the different Post Office Savings Accounts:
-
-
Basic Savings Account :
-
- It allows only four cash withdrawals in a month.
- No monthly average balance required
- The account can be opened with zero balance
- Simplified banking services through QR card is available
- Instant fund transfer through IMPS
- Can be used for easy Recharge and Bill Payments
- Interest rate 4% p.a.
-
2. Regular Savings Account
- Its the main attraction is it can be opened at the bank’s access points and your doorstep (Free account opening at your doorstep).
- Interest can be earned on the money kept in this account and the cash withdrawals allowed in this account are unlimited.
- Bill payment facility at your doorstep available
- Simple and secure banking with QR card
3. Digital Savings Account
- Anyone above the age of 18 years, having Aadhaar and PAN card, can open this account through IPPB Mobile App.
- A maximum yearly cumulative deposit of Rs. 2 lakhs is allowed in the account
- No commitment of minimum balance
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The minimum balance Amount depends on the Account Type.
- Savings Bank Account (SB) with Cheque Book (Cheque Account): Rs.500/-
- Savings Bank Account (SB) without Cheque Book (Non-Cheque Account): Rs.50/-
- MIS: Rs.1500/-
- TD: Rs.200/-
- PPF : 500/-
- Senior Citizen : Rs.1000/-
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| Features | Charges |
| Initial Minimum Deposit Required | Rs.100/- |
| Maximum Balance | Rs.100,000/- |
| ATM/Debit Card | FREE |
| Nomination Facility | Available |
| Annual maintenance charges (from 2nd Year) | Rs.100/- |
| PIN regeneration | Rs.50/- |
| Mobile Alerts | FREE |
| Monthly Account statement (including duplicate statements) | FREE |
| Branch banking Free monthly customer induced transactions. |
4 Free (Subsequently @ INR 20 per transaction at branch and Customer Service Points) |
India Post Payments Bank (IPPB) Schedule of Charges
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| Features | Charges |
| ATM monthly transactions At IndiaPost ATMs | FREE |
| At Punjab National Bank’s ATMs | FREE |
| At other bank’s ATMs: Metro | 3 txns.free |
| At other bank’s ATMs: Non-Metro | 5 txns.free |
| Additional transactions at Other Bank’s ATMs | Financial: INR 20
Non-financial: INR 8 |
| Maximum ATM withdrawal per transaction | INR 10,000 |
| Maximum ATM withdrawal per day | INR 25,000 |
| Maximum cumulative spend at POS outlets and ecommerce sites per day | INR 65,000 |
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| Mode of Outward Remittance | Transaction size | Charges (excluding service tax) at branch and doorstep banking | Charges (excluding service tax) for mobile banking |
| NEFT | Up to INR 10,000 | INR 2.5 per transaction | NA |
| NEFT | INR 10,000 – INR 1 Lakh | INR 5 per transaction | NA |
| IMPS | Upto 1 INR Lakh | INR 5 per transaction | INR 4 per transaction |
| IMPS | Upto 1 INR Lakh | INR 5 per transaction | INR 4 per transaction |
| AEPS | Upto INR 10,000 (max. limit) | Free | NA |
| UPI | Upto INR 1 Lakh (max. limit) | NA | INR 4 per transaction |
[cs_heading column_size=”1/1″ heading_title=”Main Highlights of Post Office Savings Account ” color_title=”” heading_style=”2″ heading_size=”24″ heading_align=”center” heading_divider=”off” heading_font_style=”normal” heading_color=”#1e73be”] [/cs_heading]
- ATM/Debit Card – Visa Rupay ATM Debit Card will work in other Bank’s ATM
- Cheque Books – Cheque books are issued in respect of cheque accounts. In a cheque account, the minimum balance should be INR. 500/-
- Nomination Facility – Like other Banks, Account Holder can choose a nominee
- Portability – You can shift your account from one Post office to other. The depositor should apply in the prescribed form [SB10(b)] or manual application.
- Joint Accounts: 2 or 3 Adults can open a Joint Account. The max.deposit amount for a Joint Account is 2 Lakh. A single account can be converted to a joint account and vice versa.
- Tax Exemptions – Under the provisions of section 80L of the Income Tax Act, interest earned from the savings in these accounts are exempt from tax for up to Rs.10,000 earned per year.
- Online Banking – Once your account is active, you can apply for the Online Banking account in your Post Office.
- Click ‘Registration for Internet Banking‘ to apply for the Postal Internet Banking Account.
- The online PO savings account allows you to access A/c summary, savings account details, RD A/c detail, PPF A/c detail, Term Deposits A/c detail, NSC A/c detail, Loan on RD/PPF and TDS detail. You can use the account to transfer funds, withdraw your PPF, manage Payee/Billers, service request, etc.
- Interest for the Deposit – You will get 4% p.a interest for your deposit. (Interest earned is Tax-Free up to INR 10,000/- per year )
Opening a Post Office savings account is beneficial as our Nationalized and Private Banks are adding more and more limitations and charges every month.
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My doubt is that, Is anyone can transfer money to our account through online(in a postal account)??
It is compulsory to open a savings account in post office????????
No, It is not compulsory.