The Department of Posts offers its savings account holders ATM, internet and mobile banking facilities. If you also have a post office ATM card, it is important to know the applicable rules. You can now withdraw a maximum of ₹25,000 from an ATM in a day, but you can withdraw no more than ₹10,000 in a single transaction. In addition, your account must have a minimum balance of ₹500 when you withdraw money; otherwise, your transaction may be declined and you may also be charged an extra fee of up to ₹23. Free Transaction Limit: 5 Free Withdrawals at Post Office ATMs The Department of Posts sets different limits for free transactions when using Post Office ATMs versus other bank ATMs: At Post Office ATMs: Account holders get 5 free transactions every month (combining both financial and non-financial transactions). At Other Bank ATMs: In metro cities (6 major metro cities), account holders get 3 free transactions per month, while in non-metro areas, 5 free transactions per month are allowed. What are the charges once the free limit is exceeded? If you exceed the prescribed free transaction limit, additional charges will apply: At Other Bank ATMs: Financial Transactions (Cash Withdrawal): ₹23 plus GST. Non-Financial Transactions (such as Balance Inquiry or Mini Statement): ₹11 plus GST. At Post Office ATMs: After exceeding the free limit: Financial Transactions: ₹10 plus GST. Non-Financial Transactions: ₹5 plus GST. Interest Calculation and ₹50 Maintenance Penalty Deposits in a Post Office Savings Account earn interest at the rate of 4% per annum. Interest Calculation: Interest is calculated on the lowest balance maintained in the account between the 10th day and the last day of each month, and it is credited to the account once a year. Maintenance Charge: If the minimum balance in the account falls below ₹500 at the end of any financial year, an account maintenance charge of ₹50 may be deducted. Post navigation Oil record biggest weekly decline since 2020:Will petrol and diesel become cheaper in India?
