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I clearly remember those days when post office was have major importance in our society, people were so much depend on post office for their banking need. increased in number of private sector banks in last decade Post office banking lost its importance in our society even though in rural area people are more dependable on private and public sector banks for their banking needs.

Post office saving bank account have significant importance over public and private sector banks. Almost all major public and private sector banks have minimum balance condition for saving account. Where as Post office saving bank account just Rs.50 is minimum balance requirement without check book and Rs 500 with Check book.

Like other banks Post office saving bank account also provide 4% interest rate.Interest earn through Post office saving bank account is non-taxable upto Rs.10000. Post office saving bank account provide all facility like other banks.India Post Banking system as digital as other banks, India post also started their Payment banks which provide same facility like Airtel and Paytm Payment Bank with Rupay Debit card.

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