Do anyone still go to post office?

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Do anyone still go to post office?

Post by Skumar on Tue Jan 29 2008, 04:30

Do anyone still go to post office? I think they are dying breed....

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Re: Do anyone still go to post office?

Post by rakeshkamble on Tue Jan 29 2008, 15:51

I dont.. Haven't heard anyone investing there from long.. heard about this type of investment when I was young...
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Re: Do anyone still go to post office?

Post by enidhi on Tue Jan 29 2008, 17:44

I did visit post office few times. In villages they are still prominent.

not all villages have banks but many have post offices-so they still hold some significance in our economy.
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Re: Do anyone still go to post office?

Post by sidhartha on Thu Jan 31 2008, 14:10

guys you know wht....try finding out more about investments in post offices.they offer you a much attractive returns than banks...and sometimes even mutual funds...heard about MIS(monthly income schemes) 8% return...which you will recieve monthly and off course a bonus amount after completion of 6yrs...initially it was 10% now i guess its 5% on the principal.total returns or effective yield comes out to be close to 10.11%.if you have bulk money guess this is the best investment!!!!no comparisions with this..

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Re: Do anyone still go to post office?

Post by sidhartha on Thu Jan 31 2008, 14:13

then to add up post offices have KVP(kisan vikas patra) which i guess again has a interest rate of 9.50% lock in of again 6 and a half years i guess....which is again quite attractive....and if we compound it again the effective yield is i guess more than 10.50 %....

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Re: Do anyone still go to post office?

Post by enidhi on Thu Jan 31 2008, 14:28

Thanks for the info Sid,

But I am having one concern with post offices-If I buy a KVP etc, retaining that document for six years is a challenge and after six years, signing in the same way as I signed six years ago is another challenge... they should give us online options soon....
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Re: Do anyone still go to post office?

Post by enidhi on Thu Jan 31 2008, 14:29

Returns are good indeed-now I remember reading somewhere post offices are also allowed to invest a small part of savings in equities. If managed well that should give better returns.
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Re: Do anyone still go to post office?

Post by sidhartha on Sun Feb 03 2008, 14:21

yes tht might be a point....so always sign your full signature or another option is thumb impression thts the best way...if you are going for post office investments.....

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Re: Do anyone still go to post office?

Post by enidhi on Mon Feb 04 2008, 10:39

Post offices should allow online solutions like banks...That can get better investment...
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Re: Do anyone still go to post office?

Post by vishwas.tp on Tue Feb 26 2008, 12:07

Post office has improved a lot, but the improvement is not seen by the people. The new Post office is not just related to some delivery of letters but today it is a financial house also. It provides a wide variety of products like MF, RD, Savings account (more interset than banks), Money transfer through Western union, MIS and many. Check out this link http://www.indiapost.gov.in/Banking.html for more information.

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