Post office savings bank (POSB) account offers internet banking using which you can not only transfer funds but also invest sitting in your home or office.
If you are looking to earn a higher interest on your savings bank account balance or on your fixed deposits, the post office small savings schemes can work as an alternative. Currently, most post office investments such as Time Deposits, NSC, PPF, KVP are offering a higher rate of interest than other safe products such as bank fixed deposits. And, whats more, post office savings bank (POSB) account also offers internet banking using which you can not only transfer funds but also invest sitting in your home or office. The Post Office Internet Banking has several features that may help you in keeping your banking needs under control as mobile banking has also started in the post offices.
As a pre-requisite for availing Department of Post (DOP) Internet Banking, the following are a must:
- Active Single account or Joint B Savings account
- KYC documents, if not already submitted
- Mobile number
- Email address
- PAN number
E-banking activation application form
To download the post office e-banking activation application form or the Internet Banking form, you may visit the India Post website to download the ‘ATM Card/Internet/Mobile/SMS banking service request form’ or get it by visiting – https://www.indiapost.gov.in/VAS/Pages/Form.aspx
How to register for post office Internet Banking
To get post office Internet Banking, one needs to visit the post office branch once with the filled up post office Internet Banking form and submit it along with required documents. You will receive an SMS alert in the mobile after post office Internet Banking gets activated.
How to activate post office Internet Banking
Once the SMS is received, to access post office Internet Banking, one needs to visit https://ebanking.indiapost.gov.in and then click on ‘ New User Activation’. Post Office Savings Account Here, you will have to enter Customer ID which is the CIF ID printed on the first page of your savings account Passbook. The Account ID is your savings account number.
You may be asked to enter a ‘Pass phrase’ which is a security add-on feature. It confirms that you are logging into genuine DOP Internet Banking URL. Post Office Savings Account It should be the same which you have set during your user activation. If there’s a mismatch, do not proceed and report to the post office. Also, you will have to set your login password and the transaction password and also configure security questions. Post Office Savings Account By doing so, your post office Internet Banking will get activated.
Fund transfer and deposits
Once the account is activated, you can make fund transfer from one POSB to another. Also, without visiting the post office branch, you can deposit money in your PPF account or the post office recurring deposit (RD) account. Post Office Savings Account If you want to invest in RD or time deposit and even close them, you can also do the same through internet banking.
One can also opt for ‘stop cheque’ request or schedule payments from the post office Internet Banking. For the eligible amount, you can also withdraw funds from your PPF account. Once the account is activated, you can deposit money in your PPF account or the post office recurring deposit (RD) account.
What Is Net Banking – Net Banking Meaning
Netbanking, also known as internet banking, is a digital method to conduct banking transactions by the means of the internet. It is an electronic system, which any individual with a bank account can activate and use for their financial proceedings.
Most means and uses of banking done physically can be conducted via internet banking.
Reasons Why You Should Use Net Banking
Most banks in India have adopted technology, or are in the process of adopting technology, to meet the banking needs of consumers. While traditional banking, also known as a physical bank, is still the most used and accessed form of banking in India, net banking is slowly becoming an essential aspect of banking activities.
Post Office Savings Account