In an effort to help residents open savings account with a minimum deposit, the postal department has initiated a campaign to popularise its services.
Residents can hold a savings account with a deposit of ₹50 and also get an interest rate of 4% per annum through the account. Moreover, these accounts also come with an insurance cover with a minimum premium of ₹12 per year or ₹330/year.
Recently, 106 persons working in the private sector opened their savings accounts and were given ATM cards at Spencer Plaza. They were also provided insurance cover under the Pradhan Mantri Suraksha Bima Yojana/Pradhan Mantri Jeevan Jyoti Bima Yojana. About 40 families in Washermanpet were also provided with ATM cards to access their savings accounts.
Alok Ojha, Chief Postmaster, Chennai GPO, said this will help them maintain an account with a low deposit and also receive subsidies through direct benefit transfer schemes. “We have covered 8,000 families so far in the city. We have targetted about 30,000 families by February next year. Customers could carry out mobile banking and use their postal debit cards in bank ATMs as well. These saving accounts are also linked with Aadhaar,” he said.
