Post Office savings scheme: Now open account online via IPPB app from the comfort of your home

Post Office Small savings schemes are ideal for those people with low risk appetite, as they offer guaranteed return. Among several Post Office Small savings schemes, one such scheme that offers great returns is the Monthly Income Scheme.

An account can be opened in multiples of Rs 1000. The maximum investment limit is Rs 4.5 lakh in single account and Rs 9 lakh in joint account. An individual can invest maximum Rs 4.5 lakh in MIS (including his share in joint accounts). For calculation of share of an individual in joint account, each joint holder have equal share in each joint account.

For opening your account, you need not visit any branch. You can now open Post Office savings scheme account online via IPPB app from the comfort of your home. Here is the entire process of opening an online account in the post office.

1- Download IPBP Mobile Banking App on your mobile phone
2- Open the IPBP mobile banking app and click on 'Open Account'
3- Enter your pen card number and Aadhaar card number
4- Enter the OTP on the registered mobile number
5- Give your mother's name, educational qualification, address and nominee information
6- Click on submit

Do remember that digital saving account is valid for one year only. Complete biometric certification will be issued within one year after which regular savings account will be opened.

Who can open Post Office Monthly Income Scheme

Post Office Monthly Income Scheme can be opened by a single adult; Joint Account (up to 3 adults); a guardian on behalf of minor/ person of unsound mind; and a minor above 10 years in his own name.

What are the additional facilities available on Post Office Savings Account​?

To avail below facilities on your PO Savings Account, you need to download and submit respective form at concerned Post Office.

(i) Cheque book
(ii) ATM Card
(iii) ebanking/mobile banking
(iv) Aadhaar Seeding
(v) Atal Pension Yojana (APY)
(vi) Pradhan Mantri Suraksha Bima Yojana (PMSBY)
(vii) Pradhan Mantri Jeevan Jeevan Jyoti Bima Yojana (PMJJBY)