Post Office ATM Rules: Cash Withdrawal Charges, Transaction Limits, Other Details

- Feb 12, 2019-

India Post or Department of Post offers several types of accounts such as saving account,fixed deposit accountsenior citizen savings scheme (SCSS) account and recurring deposit account. The saving account of India Post, which has a network of more than 1.5 lakh post offices across the country, also comes with an ATM facility. Post office savings account can be opened by paying a minimum of Rs. 20. India Post pays interest at the rate of 4 per cent per annum on deposit in its savings account, according to India Post's website - indiapost.gov.in.

Here are the ATM transaction limits and charges applicable to India Post accounts:

1. India Post permits cash withdrawals up to Rs. 25,000 per day through its ATM card. A cash withdrawal limit of Rs. 10,000 per transaction is applicable, according to India Post's website. 

2. Department of Post offers five transactions free of cost at its ATMs. This includes financial and non-financial transactions carried out at post office ATMs.

3. Post office allows three free transactions in a month from its debit card when used at ATMs of other banks in metro cities. In non-metro cities, the upper limit for free transactions is five.

4. In metros as well as non-metro cities, the prescribed limits are inclusive of financial and non-financial transactions.

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5. At other banks' ATMs, any transaction beyond the prescribed number of free transactions will be chargeable at Rs. 20 plus applicable GST (Goods and Services Tax), according to India Post.