Post Office Savings Bank account is a widely used investment instrument across India. Millions of account holders use this simple savings bank account to save their hard earned money.  

Since it is backed by the central government, there is assurance that their money is safe. The post office savings bank account also pays the highest interest rate of 4% per annum compared to public or private sector banks in the country.  

With the introduction of digital financial technology, account holders have the convenience of internet banking too.  

How can I Withdraw Money from My Post Office Savings Account?  

The primary function of a savings bank account is deposit and withdrawal of money for regular expenses. With the Post Office savings account, you can withdraw money both online and offline.  

Post Office Savings Account - Withdrawing Money at the Branch  

  1. Go to the nearest Post Office along with your Post office savings account passbook. 

  2. Ask for withdrawal form (SB-7) and fill in your account number, name, and the amount you want withdraw. 

  3. Give the filled form at the counter, along with your passbook. 

  4. The staff will verify against your passbook, and if everything is correct, they will process your request. 

  5. They will give you the amount you asked for, and then update your passbook with the details of the withdrawal and remaining balance in your account.  

Post Office Savings Account - Withdrawing Money using ATM Card 

India Posts has introduced Rupay Debit Cards to its Savings Account holders. Kindly approach your branch to apply for one.  

Once you have received your Rupay Debit Card, you can use it at your nearest ATM to withdraw money from your Post Office savings account.  

Also read: Various Savings Bank Accounts across Banks in India  

Post Office Savings Account – Key Points to Remember 

As stated above, Post Office savings account offer security and better interest rates compared to other banks.  

  1. ATM Card facility available. You can get a Rupay Debit card to withdraw cash from ATMs.  

  2. Joint account facility also available.  

  3. Provides last mile connectivity to rural areas.  

  4. IPPB app allows fund transfer and other features.  

  5. Minimum deposit is Rs.500, and there is no limit on maximum balance.  

  6. Available for any Indian resident over the age of 10.  

  7. You can withdraw as little as Rs.50.  

FAQs on How to Withdraw Money from Post Office Savings Account

1. How to withdraw money from dopbnk?

To withdraw money from your DoPBNK account, visit your nearest post office branch. Fill out a withdrawal slip with your account number, the amount you wish to withdraw, and your signature. Submit the slip along with your passbook to the clerk. After verifying your details, the clerk will process your request and hand over the cash to you. If required, be ready to present a valid ID proof.

2. How much money can I withdraw from Post Office ATM?

You can withdraw up to INR 25,000 per day from a Post Office ATM. The cash withdrawal limit per transaction is INR 10,000. 

3. What is the minimum balance required to operate a post office savings account?  

The minimum balance you need to maintain is Rs.500.  

4. How much money can I withdraw at a time?  

If you have sufficient balance, you can withdraw how much every you want. There is no limit. You can withdraw as low as Rs.50 in one instance.  

5. Are there charges to use ATM card to withdraw money from a post office savings account? 

ATM withdrawals adhere to the regular ATM withdrawal rules set by RBI. No charges for unlimited withdrawals at a DOP registered ATM. At other bank ATMs, you can get first 3 transactions free, and subsequent transactions will be charged at Rs.20+GST for every transaction.  

6. How to transfer money from Post Office savings account to bank account?

To transfer money from a Post Office savings account to a bank account, follow these steps:

  • Login to your Post Office Savings Account using the Internet Banking portal.
  • Go to the 'Funds Transfer' section and select the 'Transfer to Bank Account' option.
  • Enter the bank account details of the recipient, including the IFSC code and account number.
  • Specify the amount you wish to transfer.
  • Review the details and confirm the transaction by entering your transaction password or OTP.

7. Can I withdraw at any of the post office branches?  

Yes, you can withdraw money from any post office branch as long as you submit your passbook along with it. There is a withdrawal limit of Rs.25,000 when withdrawing from non-home branch.  

 

Disclaimer: This page includes information that has been compiled from many sources and is only offered for informational purposes. Since this type of data might change over time, we cannot guarantee that the information supplied or included within it is accurate. It is anticipated that the user would confirm with the relevant source prior to taking any choices or actions.