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    No charges are to be collected from depositors for Generating the POSB Interest Certificate | Clarification Issued by the Karnataka Postal Circle

     No. FS/10/02/02/DakAdalat dated at Bengaluru the 19-08-2022

    Sub: Imposing fees on Interest Certificate of POSB accounts — reg

    Ref: Issue taken up during Dak Adalat dated 10.08.22

    With reference to the subject above, it is brought to the notice of this office during Dak Adalat that post offices are charging Rs.20/-+18% GST for issue of interest Certificates to POSB customers.

    Please refer to instructions contained in SB Order No.38/2021 dated 23.11.2021 wherein it is clarified that no charges are applicable for issuance of interest certificate to a POSB account holder and the same can be obtained from any CBS post office.

    Further, SB Order No.01/2021 dated 23.02.2021 prescribes fee/charges to be collected for issuance of statement of account or deposit receipt, which needs to be continued with.

    The “Interest Certificate” for POSB customers are generated with menu CINTC menu in Finacle for which no charges are to be collected from depositors. “Statement of Account/ Deposit receipt’ is generated using the menu HPSP in Finacle for which charges prescribed in SB order No.01/2021 are applicable.

    It is hereby requested to ensure wide circulation of this clarification for better implementation of SB orders at Post office counters.

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