Opening savings account in post office vs. Bank
The minimum balance requirement in banks is based on MAB(Monthly average balance). That means if your account has 50K for 6 days and then remaining days of zero balance then MAB becomes 10,000. The strategy is transfer/keep your salary for just initial few days and you can meet MAB easily. You can maintain multiple zero balance accounts just by rotating money.
Even though you can get online banking in Post Office to transfer money and pay the bills the features are still elementary. Services from them are time consuming and you need to compete with retired people standing in que to get any help.
I don’t think it is worth it.
And if your money is lying idle in your savings account for more than 2 weeks, perhaps it has become lazy😜.
Time to give your money some excersie…I mean investments.