POSB NET BANKING - FEATURES AND FACILITIES AVAILABLE
Internet banking facility is available for the Post Office Savings Bank customers. Net banking facility is also provided to the MPKBY agents who are authorised to mobilize Recurring Deposits from the members of public.
The URL for accessing Post office net banking is https://ebanking.indiapost.gov.in Customers have to apply for the facility either at the time of opening of Postal Savings Account or submit a separate application if they already have a POSB account at the Post office where his account stands. By availing this facility, customers can get online access to all the types of PO Savings accounts held by them under their CIF-ID (Customer Identification Number)
Anyone with a valid and active Single or Joint-B post office savings account can apply for India post internet banking, provided, they have valid KYC details submitted. Else they will have to do so at the time of application. In addition, they would require a mobile, email address and PAN.
Joint-A account holders and accounts in respect of Minors, Lunatic, Illiterate are not eligible to avail Net banking facility. BO account holders are also not eligible to avail the facility.
Once the application along with the documents submitted by the depositors are verified, a SMS link will be sent to the registered mobile number of the depositors. By accessing the link, the depositors will be able to set passwords and other parameters. The CIF-ID will be the User-ID for accessing Net banking.
Depositors who wish to stop using Net banking facility can submit an application at the Post office where the accounts stands and based on this, the PO staff will be able to deactivate the facility in the CBS.
For detailed SOP, click here SB Order No. 1/2019
Online-account opening introduced for SCSS, MSSC and MIS;
1 Online accounts under SCSS, MSSC and MIS can be opened by investors through DOP Internet banking. Only Single Type account can be opened. Only DOP Netbanking users can open online accounts. Nominee already available in their Savings Account can be registered for the above schemes. SCSS accounts can be opened only if the depositor has attained the age of 60. Those who are below 60 years of age can open the new accounts only at the Post office.
SB Order No. 20/2023
Postal Savings Bank customers can receive and transfer funds in their POSB accounts to and from other Banks. The NEFT/RTGS facility was introduced for POSB customer on 18.5.2022 vide SB Order No. 8/2022.
There is only one IFSC code for all the Post office branches across the country and the code is IPOS0000DOP.
Customers can avail this facility through Net banking and Mobile Banking. They can also avail the facility at the Post office counters during business hours.
Now DOP Internet Banking users can open all schemes' accounts online except Post Office Savings Account (POSA) and Sukanya Samriddhi Account (SSA).
Similarly, except MSSC and SB, all other categories of accounts can be closed using Net banking. However, NSC/KVP issued prior to 01.07.2016 in the form of savings certificates are to be closed at the concerned post office only.
POSB Netbanking users can also seek extension of maturity of their SCSS accounts with effect from 17.08.2024
internet Banking user should check maturity date and maturity amount in the closure screen before submitting the request. If date of closure is prior to maturity date, closure will be treated as premature and closure proceeds will be as per the Scheme Rule.
Post Office customers can send money to Post Office accounts from other bank through their internet banking. This will make investment in POSB schemes easier. NEFT Inward Remittance is allowed to Post Office Savings Account, PPF and SSA accounts. Similarly, during closure of Accounts except SB, the funds can be credited to customer’s POSB account and further outward NEFT can be initiated through Post Office/Internet Banking / Mobile banking for desired Beneficiary bank accounts and drawing of cheque can be avoided.
While initiating fund inward fund transfer from bank accounts to PPF/SSA, the following conditions are to be checked:
(1) PPF/SSA account should not have any pending previous years defaulted subscription. If the account has pending previous year subscription pending default is to be deposit through any nearest CBS post office.
(2) If PPF account has matured, submit Account extension form along with passbook at post office concerned within one year from the date of maturity.
(3) Fund transfer in PPF/SSA should be in multiple of Rs.50/-
(4) Fund transfer in PPF/SSA should be maximum of { 1.50 lakh in a financial year.
(5) In case any NEFT Transaction fails due to technical reasons, the amount will be reversed in the bank account concerned in one working day'
