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Have A Saving Account In Post Office? Here Are The ATM Charges You Have To Pay

India Post ATMs: Account holders are allowed three transactions a month free of cost in metros
India Post ATMs: Account holders are allowed three transactions a month free of cost in metros

Do you have a savings account in a post office? Besides providing several mailing services, India Post offers personal banking and remittance services. India Post offers several types of accounts such as saving account, monthly income scheme account, senior citizen savings scheme (SCSS) account and time deposit account. The saving account of India Post, which has a network of more than 1.5 lakh post offices across the country, comes with an ATM facility. Called Post Office Savings Account, the account can be opened by paying a minimum of Rs 20, according to the India Post's website - indiapost.gov.in. India Post offers an interest rate of 4 per cent on the balance in the savings account.

Here are various limits stipulated on ATM transactions and various charges levied by India Post:

India Post (post office) ATM transaction limits/charges
??Daily ATM cash withdrawal limit Rs 25,000
Cash withdrawal limit per transaction Rs 10,000
?Charges for transactions done at Department of Post ATMs Free (Both Financial & Non Financial) with a limit of 5 Financial transactions per day
Permissible free transactions at other Bank ATMs per month (Both Financial & Non Financial)  Metro Cities - 3 free transactions
Non Metro Cities - 5 free transactions
Charges after exceeding permissible free transaction limit at other Bank ATMs (Financial & Non Financial Transactions) Rs 20 + Applicable GST?
(Source: indiapost.gov.in)

Transaction limit

India Post currently permits cash withdrawals up to Rs 25,000 per day through its ATM card. A cash withdrawal limit of Rs 10,000 per transaction is applicable, according to its website.

Using the India Post ATM card, an account holder is permitted five transactions of financial nature per day.

Those using the India Post ATM card to transact at ATMs of other banks in metros are allowed a total of three transactions per month free of cost. ATM card holders are allowed five transactions free of cost in other banks' ATMs located in cities other than metros, according to India Post.

Transaction charges

India Post ATM card holders exhausting the permissible number of transactions at ATMs of other banks have to pay a fee of Rs 20 (plus GST) for every additional transaction, according to the post office website.