“A STUDY ON CUSTOMER SATISFACTION TOWARDS

POST OFFICE SCHEME”

A PROJECT SUBMITTED TO

UNIVERSITY OF MUMBAI,

FOR THE PARTIAL COMPLETION OF DEGREE OF MASTER IN COMMERCE

UNDER THE FACULTY OF COMMERCE

BY

MS. KADAM SHWETA DILIP

UNDER THE GUIDENCE OF

DR. RAMRAJ T. NADAR

ASSOCIATE PROFESSOR,

DEPARMENT OF COMMERCE

UNIVERSIRY OF MUMBAI, KALINA

APRIL 2019
 UNIVERSITY OF MUMBAI,

DEPARTMENT OF COMMERCE

CERTIFICATE

This is to certify that Ms. Kadam Shweta Dilip has worked and duly
completed her Project Work for the degree of Master in Commerce under the
Faculty of Commerce in the subject of BANKING AND FINANCE and her
project is entitled, “A STUDY ON CUSTOMER SATISFACTION
TOWARDS POST OFFICE SCHEME.” Under my supervision. I further
certify that the entire work has been done by the learner under my guidance and
that no part of it has been submitted previously for Degree or Diploma of any
University.

It is her own and facts reported by her personal finding and investigations.

EXTERNAL EXAMINER

HEAD OF THE DEPARTMENT

RESEARCH GUIDE

(INTERNAL EXAMINER)

Dr. Ramraj T. Nadar

Date of Submission: 18 April 2019

 DECLARATION

I the undersigned Miss Kadam Shweta Dilip here by, declare that the
work embodied in this project work title “A STUDY ON
CUSTOMER SATISFACTION TOWARDS POST OFFICE SAVING
SCHEME.” Forms my own contribution to the research work carried
out under the guidance of Mr.Dr.Ramraj T. Nadar is result of my
own research work and has not been previously submitted to any
other university.
Wherever a reference has been made to previous works of others, it
has been clearly indicated as such and include in the bibliography.
I, here by further declare that all information of this document has
been obtained and presented in accordance with academic rules and
ethical conduct.

Ms. Kadam Shweta Dilip

(Student)

Certified By
Mr. Dr. Ramraj T. Nadar

(Internal Examiner)
 ACKNOWLEDGMENT

To list who all have help me is difficult because they are so numerous
and the depth is so enormous.
I would like to acknowledgment the following as being idealistic
channels and fresh dimensions in the completion of this project.
I take this opportunity to thank the University of Mumbai for giving
me chance to do this project.
I would like to thank my HOD, Miss Kinnarry Thakkar for proving
the necessary facilities required for completion of this project.
I take this opportunity to thank our Coordinator Miss Kinnarry
Thakkar for her moral support and guidance.
I would also like to express my sincere gratitude towards my project
guide Dr.Ramraj T. Nadar whose guidance and care made the
project successful.
I would like to thank my College Library for having provided
various reference books and magazines related to my project.
Lastly, I would like to thank each and every person who directly or
indirectly helped me in the completion of the project especially my
Parents and Peers who supported me throughout my project.
 INDEX

Sr. no CHAPTERS Page no.

Certificate
Declaration
Acknowledgment
I Chapter I – Introduction
1.1 Definition
1.2 Scope of study
1.3 Review of literature
1.4 Statement of study
1.5 Objective of study
1.6 Hypothesis of the study
1.7 Research methodology
1.8 Limitation

II Chapter II – An Overview of study

III Chapter III – Data Analysis

IV Chapter IV- Findings & Conclusion

Bibliography
Annexure

CHAPTER I

INTRODUCTION
Meaning :

The post office savings account is the deposit schemes offered by

the department of post on which fixed interest is paid. The
individual investors deposit a good portion of their financial assets
in a postal savings account in order to earn a fixed rate of interest
on the investments.

Scope of the study

The study aims to create awareness among the investors about

various post office saving scheme. It helps working people to invest
in various post of saving scheme and the national savings
organisation and the post offices to know the problem faced by
investors in while investing in post office saving schemes. On the
basis of the study the government can make suitable changes to
promote the various post office saving schemes. According to the
respective needs of the investors.

Attitude of investors is an important aspect in investment research

as small savings constitutes and important source of investment.
The results of the study well help the investors to know the type of
savings which gives maximum returns. These study covered only,
the investors to are residing in the geographical location of Andheri
city.

Review of Literature

The introduction should includenanclear statement of the topic and

its parameters. You should indicate why the research area is
 important, interesting, problematic or relevant in some way. The
literature review is an important part of a dissertation or thesis. It
should be thorough and accurate.

 G.Thangapandi (2013) according to the study, post offices

provides numerous services to the economy. The objective is to
assess the opinion of the customers towards postal services and
how frequently they use the services and to offer suggestions for
improvement in them. The focus is on demographic profile of the
customer namely literacy, occupation, location where there is a
significant change in their relationship. Whereas no significant
change has been observed in relation to demographic profile such
as age, gender and income of the respondent.

 MehulChandrakantChhatbar(2013) tried to explain in his study

the satisfaction of consumers which they derive from using services
of the post offices and in comparison the satisfaction arrived from
private courier services in Mumbai. The study reveals that there is
nosignificant difference in the satisfaction levels of the customers.
A post office provides excellent and better services at low cost
.whereas private firms provide prompt services at little high cost.
Hence, customers are equally satisfied by using the private courier
firms or Indian postal services.

 Dipankarmalankar (2013) reveals through the paper the role

played by post office in the financial inclusion and the challenges
faced by the Department of Post. Indian post office financial
 inclusion and the challenges faced by the Department of Post.
Indian post office provides reliable and low cost services. The post
office is providing a plethora of financial services throughout the
country through different branches. Various hurdles and challenges
come in way during the course of working of services. But it has
removed this all challenges by becoming the most reliable and
safest way of investment agency.

 Anand.M, et.al (2013), in his paper focuses on the performance

aspects of India Postal Services and its future growth strategy. The
strength of India Post is its long traditional of handling financial
services, and its reach to masses. To improve its service quality and
operational efficiency, India post has introduce a centralised core
banking solutions with alternate delivery channels facilitating any
time anywhere banking environment. The growth of Post and its
performance is not impressive but its strategy moving to remove all
hurdles andchallenges.

 RitikaAgarwal (2012) concludes in her study the various factors

which focus on influencing the investors to invest among the
different savings schemes of the post offices. It explains thatthe
educational qualification and occupations of the investors has a
significant impact on the saving pattern as well as to choose among
the various investment schemes and services available with post
offices. The study states that the investment in senior citizen
schemes are very low preferred by the customer and
communication network of the post offices should be increased.
Post offices provide a unique bundle of savings products.
 Revolution in IT is the most preferred challenges for the postal
offices.

 K. Gayathri (2014) the paper studies in general the attitude of the

investors towards the different schemes with the postal offices in
cumbum town. It analyse the study of the various problems faced
by the customers in investing money in post offices. It highlights
suggestion for improvement in the way postal department perform
their services. Latest technology up gradation which will make
services faster and reliable. Advertisement strategy should be
adopted as lack of awareness is there as campaigning of services is
not done. Post offices reachto the millions of people serving them
the best products and schemes. Its role in rural areas in vital one.

 Thabiso John Mokoena and Charles Mbohwa (2013) discuss in

the paper about the performance management of Postal
Organisation. The performance of the Post is at decreasinglevel in
last decades in terms of revenue, customer satisfaction and has a
tough competition from private mail companies. It focuses on
transformation role which will lead to a positive performance of the
Postal Organisation.

 Seyed Ali Hosseini, et.al (2013), the paper studies the strength,
weakness, opportunities and threats of Postal Services in Rasht
(Iran). It focus on the number of problems faced by the public
relating to city environment are not properly organised and it offer
 various suggestion to improve the services offered by the Postal
Offices. The post office distribution and consistent services to
customers.

 Suma Mathew(2015) include in her study the role of postal

administration in providing the excellence services and enjoying
the trust and loyalty in customers by diversifying
themselvesthrough innovative products and services and the
changing role of post offices by entering into new areas such as
telephony and financial services. India Post is the largest and most
credibleoutreach infrastructure in the country. Several innovative
products are implemented for letters and delivery of parcels. It’s a
critically window for the rural people to avail sophisticated
products and affordable financial products. Its core competencies
are its credibility, brand strength and outreach to millions of people.

 Moez and Jamel-EddineGharbi(2012) in their paper studies the

customer satisfaction in delivering services by the Postal
department in Tunisian city relating to mail services and secondly
loyalty of the customers towards the services of the post. It
concludes that the
satisfaction of customers for undertaking services from post has a
positive impact on the loyalty of the customers.

 N.Senthil Kumar and M. Prakash (2014), their paper attempts to

study the importance of precious metal i.e. Gold and expectations
of customers in buying gold through Post Offices. Gold is highly
 liked by customers due to its increase of value in market and
secondly as it is used extensively for making of jewellery. India
post has started to provide gold coins through selected branches.
99.99% purity of gold is offered by them. This facility is available
with 630post offices. Various discounts are offered by them. But a
tough competition has to be faced from other companies. India post
is moving towards technology innovation and modernisation for
services and tries to satisfy customers with best products and
services.

 Mu.Subrahmanian (2010) highlights in his paper the importance

of training of employees in department of post. Training is
inevitable as it develops skills and knowledge of employees.
Itprepares them for facing new challenges and opportunities in their
way. The focus is on training is to improve quality movement,
continuous improvement. India Post has adopted. AIM model –
appraisal, intervention and measure model to enhance the quality
and training is to improve quality movement, continuous
improvement. India Post has adopted. AIM model –appraisal,
intervention and measure model to enhance the quality and
effectiveness of the training programme. India Post has adopted
sound training strategy.

 PayalDutta (2014) has stated in her paper the role of India Post in
providing Postal life insurance schemes for central and state
government employees and rural postal life insurance (RPLI)
schemes for general rural people. It studies the problem face by
 them in undertaking those services.PLI introduce on 1stFeb, 1884
and RPLI on 24thmarch, 1995.

 Mahesh Potadar, et.al (2015) highlights the challenges faced by

the Indian Post Office from the private courier, banks and financial
institutions companies in delivering services relating to letters,
mails and parcels. To study the initiatives taken by postal
department in providing services, to the customers in enhancing
their IT based technology. E-post has removed these barriers for
working of post offices. Collection of feedback from employees
and customers is the best way to review their performances.

 Dhiraj. Jain and RuchikaKothari (2012) have revealed in the

paper the Post Office is the backbone of the country. The paper is to
study the awareness, preferences and attitudes of the public towards
the various schemes available with them. They provide the best
investment avenues in the market. Post Office plays a vital role and
connects the whole of the country in absence of banking facilities.

 Rajeshwari and K.J.sunmista (2011) states in their paper the

comparisons of the customers perceptions of service quality of Post
Office in virudhunagar district and Madurai district. SERVPERF
dimensions are used to measure the service quality of Post Office.
Customers
 havea positive attitude more than the negative attitude towards
services of Post Office. The respondents are satisfied with their
services and schemes.

 DivyeshKumar (2015) in his paper has made a comparative study

of the role played by Post Office in rural areas in developed
countries, underdeveloped countries and emerging economy. The
role played by Postal department is vital one in fostering financial
inclusion. Women empowerment can be increased by giving them
facilities from Post Offices.

 M.K. Gupta and NidhiGupta (2012) the customers satisfaction is

a key to success for a company. The paper studies the satisfaction
of the customers which they derive from the services offered by
banks and post offices. Post offices are providing more competitive
and better services as compare to banks. They should improve their
infrastructure and use the latest technology updating and should
offer timely discount schemes to customers. Lastly they should
have fastest grievances handling system.

 Erwin Normany, et.al (2009) it is very difficult for the post offices
for manual sorting of lettersthus this problem can be solved by a
Letter Sorting Machine. Its attempt is to design a machinewhich
will make the work of post office more efficient and will increase
effectiveness.
 Y. Shafeeandand J. Prabakaran (2014) in their paper has discuss
the role of Postal Department in implementing the ATM services.
Automated teller machines (ATMs) were the first well-known
machines to provide electronic access to customers. To analyse the
present ATM facilities provided by India post, customer satisfaction
by appraising the problems faced by the customers using ATM and
to study the growth and development of ATMs in the banking
sector and their functions. Indian Postal ATM Service needs
technological, social, cultural & economic change. With a little bit
of change, it can create a monopoly in the market.

 PanagiotisLykogiannis (2014) in his paper A study of customer

satisfaction in Greek Postal Services. attempts to study the
behaviour, perception and attitude of the customers relating to
Greek Postal Services. To investigate the investors’ awareness for
schemes available in post offices. Big percentage of customers use
Greek Postal offices and they are highly satisfied by the services
and schemes. They should take more efforts to concentrate on
raising satisfaction levels of customers.

 Ahmed Khator (2013) in his paper highlights the working way of

traditional Post Office services in growth with modern corporate
entities in Kenya. 96 offices of private courier and mail services are
in registered in Kenya. To find out tough competition faced by
 postal office from these private companies and to analyse the
strategies adopted by them to reduce risk and uncertainties.

 K. ParimalaKanthi and M. Ashok Kumar (2013) the paper focus

on the vital role of Post office Savings Banks. It analyse the
investors preferences, awareness, satisfactions, their
objective and purpose of investment in their schemes. Majority of
investors are highly satisfied by postal savings bank.

 Vinayagamoorthy and k.Senthilkumar (2014), in their title “An

analysis of Postal Investment and Small Savings”, have shown that
for poor and lower income people usage of strategies are very less
to meet their requirement. Various investment avenues are available
with post to channelize savings of poor and allocate them foe
development of the country.
 R Ganpathi and S. AnbuMalar (2010), studies the attitude and
perceptions of the investors towards the various deposits schemes
available with Post Office. The schemes are meant to increase thrift
and inculcate increase in saving habits of the investors. The
compete successfully in the market due to their tax saving schemes,
safety and high rate of interest.

 Mohammad Rafee (2015), the researcher highlights the changing

face and role of post offices in Indian services sector. India has the
largest postal network in the world. Its plays a very crucial role in
socio-economic development. It also focused on the various
 suggestion forIndia post to provide better services to citizen. Thus,
a transformation role is needed to the India post.

Statement of the problem

Post office saving schemes is safety, and it has 8 types of schemes

available in post office. But the peoples are not willing to save in
post office, the reasons are customers facing some problems
example money transfer, create new account, close the account and
change the nominee’s names. Post office had two insurance
schemes.

Objectives of the study

 To understand the perception of investors in the post office saving

schemes.
 To study about investors expection from the post office schemes.
 The problems faced by the customers of the post office saving
schemes.
 To study the satisfaction level of customers in post office scheme.
 To give few suggestion to increase more customers in post office
schemes.
 To analyse the socio-economies status of the investors and there
level of awareness towards various postal schemes.
 Hypothesis of the study

Ho: majority of people are not interested in post office saving

scheme due to lack of technological modernization in post office.

H1: people are more attracted towards the post office scheme
because a safety and security.

Ho.: majority people are dissatisfied with the service of post office.

H1: post office provides more services for the satisfaction of

people.

Research Methodology

Research is a careful investigation or inquiry specifically through

search for new facts in any branch of knowledge. It is an original
contribution to the existing stock of knowledge making for its
advancement.

Research can simply be defined a task of searching from available

data to modify a certain result or theory.

Data collection

 Primary data
 In order to fulfil the objectives set out, a samples study was
undertaken using a well-framed questionnaire and got it duly filled
in by the respondents. Respondents of varying nature were
selected based on the important aspects such ass their age,
educational qualification, occupation and so forth. A structured
questionnaire was pre-tested and suitable modifications were
carried out later.

 Secondary data
The secondary data was collected from leading journals and the
internet.

 Research Design:
Research design is the plan, structure, and strategy of investigation
conceived so as to obtained answers to research questions. Research
design is purely a framework or a plan for study that guides in the
collection of data. Descriptive research design is adopted for analysing
the data.

 Research Method:
The research design is a Descriptive Research. Descriptive statistics was
tabular, graphical & numerical summaries of data. Its main purpose is to
facilitate the presentation and inference of data. Descriptive Research
design involves description of the variables making up the demographic
and geographic profile of the sample.
 Sampling Method:
The population includes male and female customers residing in universal
of area. In this project convenience sampling method is followed.

 Sample Size:
In this research project Descriptive research design is used. Judgment and
Convenience sampling method will be used to get the information about
online banking. This method is used because we are interested in
exploring gender, age, or occupation disparities in terms of online
banking in the population. For conducting this research, a structured
questionnaire is prepared and sample of 50 customers is taken from
various banks.

 Sampling unit:
A sample unit is a single individual, It defines the target population that
will be sampled i.e. it answers who is to be surveyed. In this study, the
sampling unit is the people of universal of area

 Data collection method:

Self-administered Personal survey method was used to collect the
necessary data. For this purpose appropriate questionnaires were
designed.

 Data collection instrument:

 Appropriately designed questionnaire to facilitate self-administered
surveys with simple standard questions were used to collect data. The
instrument used for gathering data was questionnaire. To get further
insight in to the research problem, interview regarding their buying
practices too was made. This was done to crosscheck the authenticity of
the data provide d. To supplement the primary data and to facilitate the
process of drawing inference, secondary data was collected from
published sources like magazines, journals, newspapers etc.

 Structure of Questionnaire:
The questions formulated were structured and non-disguised. The
questions were asked in order to get all the necessary information and to
see that the respondents could answer them with case. This pattern
adopted facilitated in analysing the data.

Types of questions asked:

1. Multiple choice questions
Many choices of responses are given and the respondent chooses one
response. The advantage of this type is easy tabulation and quick
response by the respondent.

2. Dichotomous questions
This type of questions is of 'Yes' or 'No' format. There are only two
choices of Answers and the respondent have to choose either 'Yes' 'No' or
“Maybe”

3. Open questions
These are also known as 'free-answer' type questions.
 Limitations of the study

 Post office savings schemes are linked to place of investment.

 Post office savings schemes are like currency notes.
 Post office savings schemes are not digitized.
 Unfriendly post office staff.
 Post office agents rule the roost.

Chapter II

An Overview of study
One of the allied services offered by the Department of posts is the
post office savings schemes.

It is one of the largest and oldest savings schemes in the country.

The Department of posts operates the post office savings scheme
function on behalf of the Ministry of Finance and under this
scheme, more than 20.5 crore savings account are serviced.

These accounts are operated and managed through the network of

post offices across the country. India has the largest postal network
in the world. The country today has 1,55,015 post offices, of which
1,39,144 are in rural areas and 23,344 in urban areas. On an
average, a post office serves an area of 21.21 sq km and a
population of 7,175.

The postal department has about 2.18 lakh departmental employees

nad about 2.76 lakh Gramin Dak Sevaks India has been divided
into 22 postal circles, each circle he added by a Chief Postmaster
General. The Postal Staff College India (PSCD), Ghaziabad meets
the training and development needs of Indian Postal service offices
and other Gazetted officers.
 Background of the study

During the pre-historic stage, the period of ancient mankind also

called the Homo-Sapiens who lived in the caves; there was no
organized language of communication. They were left with their
natural language, which was the gift of God. They realized that for
their survival, they should have a companion and for their common
cause, they should have a companion and for their common cause,
they should have a medium to communicate with each other. They
felt the need to exchange news from far and near. Later on, during
the period of empire rule, India was ruled by various Empires. It
was necessary for the Emperors to be informed of various
happenings and developments on the various part of their empire.
This led to the evolution of postal system in India, but in a different
form. It helped them to be in constant touch with their
subordinates.

Indian postal service is a government operated system in India. It

owns the brand name India Post. The common man refers to it as
the “Post Office”. The Indian postal system is the most widely
spread postal system in the world with 1, 54,000 post offices. Such
large numbers are the result of a long tradition of many postal
systems which were attached to the Indian Union after
independence.

India has the largest postal network in the world with 1, 56,669
post offices of which 89 percent are in rural areas. At the time of
Independence, there were 23,344 post offices which were primarily in the
urban areas. Due to demand and with the prime objective of connectivity
the rural areas and rural development, rapid expansion was carried out.
Post office serves an area of 21.09 square kilometres. The postal
department ensures the delivery of letters and money orders the door
steps and collection of letters through letter boxes, sales of stamps and
providing other services. Thus, the post offices located in the rural and
semi-urban areas provide the basic local services and also help in their
savings by offering banking and insurance services. There are many types
of schemes provided in the post office. There are different types of scheme
i.e.

 Saving account scheme

 Recurring deposit scheme
 Time deposit scheme
 Monthly Income scheme
 National savings certificate
 Public provident fund scheme
 Postal life insurance
 Rural life insurance

 Saving Account scheme:

Post office saving bank account (POSB) is the oldest and most
popular postal saving instrument. Any individual can open a POSB
a/c with a minimum balance of Rs.50/-. A pass book is provided to
the a/c holder and Cheque facility is also available for POSB a/c.
Currently the rate of interest offered against POSB a/c is 4%. This
a/c is regulated by the Government Savings Bank Act of 1873.

 Recurring Deposit scheme:

Post office offers recurring deposit facility with a maturity period

of five years. The minimum deposit is Rs 10/ and multiples of Rs
 5/- thereafter and there is no limit of maximum deposit. The
present rate of interest offered against this a/c is 8.4%. Premature
closer is allowed after three year and part withdrawal is also
allowed.

 Time Deposit Account:

Post office offers time deposit for one year, two year, three year and
five year. The rate of interest allowed is 8.2%, 8.3%, 8.4% and
8.5% for one year, two year, three year and five years term deposit
respectively. The minimum amount required to deposit is Rs.200/-
with no maximum limit.

 Monthly Income Scheme:

Under this scheme the severs make a lump-sum deposit, which

gives him a monthly interest. The minimum deposit is case of
single depositor is Rs.1000/ and in case of joint depositor it is
Rs.1500/. Maturity period is five years and rate of interest allowed
is 8.5%. Depositors are provided with one passbook.

 National Savings Certificate:

This is a tax exempted certificate sold by post office with a

minimum investment of Rs. 100/ and having no maximum limit.
Certificates are available in the denomination of
 Rs.100/,500/,1000/,5000/ and 10,000. Rate of interest is allowed at
8.9%. Trust and HUF are not allowed to invest in NSC.

 Public Provident Fund Scheme:

This is a tax advantage 15 years scheme with a minimum deposit of

Rs 500/ in a financial year and a maximum of Rs. 70,000/ per year.
Withdrawal is allowed after expiry of five years from the date of
initial deposit. Interest is allowed at 8.8% per annum. Depositors
are provided with one pass book.

 Postal Life Insurance:

Beside above mention saving schemes the Indian post offering life
insurance services since 1884. Initially the service was limited
only to the employee of post & telegram department but due to its
popularity the service was later on extended to the employees of
some other departments and bank also. It was opened for all people
in the year 1995.

 Rural Postal Life Insurance:

To extend the life insurance service to the rural public the post
office extended the service to rural areas in 1995. The prime
objective of the scheme is to provide insurance cover to the rural
public in general and to benefit weaker sections and women
workers of rural areas in particular and also to spread insurance
awareness among the rural population.
 Characteristics

o To open a Post office savings account, customers have to make the

initial deposit in cash.
o Minimum balance to be maintained in a non-cheque facility
amount is INR 50/-.
o cheque facility available if an account is opened with INR 500/-
and for this purpose mainimum balance of INR 500/- in an account
is to be maintained .
o Account can be transferred form one post office to another.
o At least one transaction of deposit or withdrawl in three financial
years is necessary to keep the account active.
o Customers are offered a debit card when opening the post office
savings account.
o Post office savings accounts also come with an ATM facility.
o 4 percent interest rate is payable annually.
o There is no limit on the maximum deposit in the post savings
account.

Types of post office saving schemes

 Post office savings account

 Rate of interest 4.0% per annum.
 Minimum amount Rs. 50/- in case of non-cheque account, Rs.
500/- in case of cheque account.
 Interest tax free.
 Any individual can open an account.
  Cheque facility available.
 Group account, Institutional account, other accounts like security
deposit account & official capacity account are not permissible.

 Post office monthly income scheme (MIS)

 Interest rate of 8.5% per annum payable monthly w.e.f.
01.04.2012.
 Maturity period is 5 years.
 No bonus on maturity w.e.f. 01.12.2011.
 No tax deduction at source (TDS).
 No tax rebate is applicable.
 Minimum investment amount is Rs. 1500/- or in multiple
thereafter.
 Maximum amount is Rs.4.50 lakhs in a single account and Rs. 9
lakhs in a joint account.
 Auto credit facility of monthly interest to saving account if
accounts are at the same post office.
 Account can be opened by an individual, two/three adults jointly
and a minor through a guardian.
 Non-Resident Indian/HUF cannot open an account.
 Minors have a separate limit of investment of Rs. 3 lakhs and the
same is not clubbed with the limit of guardian.
 Facility of premature closure of account after 1 year but on or
before 3 years @ 2.00% discount.
 Deduction of 1% if account is closed prematurely at any time after
three years.
 Suitable scheme for retired employees/ senior citizens and for
those who need regular monthly income.

 Post office time deposit scheme

 1 year, 2 year, 3 year and 5 year time deposits cab be opened.
  Minimum amount of deposit is Rs. 200/- and in multiples of Rs
200/- thereafter. No maximum limit.
 Investment up to Rs. 1, 00,000/- per annum qualifies for income
tax rebate under section 80C of IT Act.
 Interest income is taxable.
 Facility of redeposit on maturity of an account.
 In case of premature closure of 1 year, 2 year, 3 year or 5 year
account on or after 01.12.2011 between 6 months to one year from
the date of deposit, simple interest at the rate applicable to from
time to post office saving account shall be payable.
 In case of premature closure of 1 year, 2 year, 3 year or 5 year
account on or after 01.12.2011 between 6 months to one year from
the date of deposit, simple interest at the rate applicable to from
time to post office savings account shall be payable.
 2 year, 3 year or year accounts on or after 01.12.2011 if closed
after one year, interest on such deposits shall be calculated at a
discount of 1% on the rate specified for respective period.
 Account can be pleged as security against a loan to banks/
Government institutions.
 Any individual (a single adult or two adults jointly) can open an
account.
 Group accounts Institutional accounts and Misc., account not
permissible.
 Trust, Regimental fund or welfare fund not permissible to invest.

 National Saving Certificate (NSC)

 Interest rate of 8.6% per annum w.e.f 01.04.2012
 Interest rate of 8.9% per annum w.e.f. 01.04.2012
 Minimum investment Rs. 100/-. No maximum limit for investment.
 No tax deduction at source.
 Investment up to Rs. 1,00,000/- per annum qualifies for Income Tax
Rebate under NSC-section 80C of IT Act.
 Certificates can be kept as collateral security to get loan from banks.
 Trust and HUF cannot invest.
 A single holder type certificate can be purchased by as adult for
himself or on behalf of a minor or to a minor.
 The interest accuring annually but deemed to be reinvested will also
qualify for deduction under NSC –section 80C of IT Act.

 Public Provident Fund (PPF)

 Interest rate of 8.8% per annum w.e.f. 01.04.2012.
 Minimum deposit is 500/- per annum. Maximum deposit is Rs. 1,
00,000/- per annum.
 The scheme is for 15 years.
 Investment up to Rs. 1, 00,000/- per annum qualifies for Income Tax
Rebate under section 80C of IT Act.
 Interest is completely tax free.
 Deposits can be made in lumpsum or in 12 instalments.
 One deposit with a minimum amount of Rs. 500/- is mandatory in
each financial year.
 Withdrawal is permissible from 6th financial year.
 Loan facility available from 3rd financial year up to 5th financial year.
The rate of interest charged on loan taken by the subscriber of a PPF
account on or after 01.12.2011 shall be 2% p.a. However, the rate
of interest of 1% p.a. shall continue to be charged on the loans
already taken or taken up to 30.11.2011.
 Free from court attachment.
 Non-Resident Indians (NRIs) not eligible.
 An individual cannot invest on behalf of HUF (Hindu Undivided
Family) or Association of persons.
 Ideal investment option for both salaried as well as self-employed
classes.

 Senior Citizen’s Saving Scheme

 Interest @ 9.3% per annum from the date of deposit on quarterly
basis w.e.f. 01.04.2012.
 Minimum deposit is Rs. 1000 and multiples thereof. Maximum
limit of 15 lakhs.
 Maturity period is 5 years and can be extended for a future period of
3 years.
 Age should be 60 years or more , and 55 years or more but less than
60 years who has retired under a Voluntary Retirement Scheme or a
Special Voluntary Retirement Scheme on the date opening of the
account within three months from the date of retirement.
 No age limit for the retired personnel of Defence services provided
they fulfil other specified conditions.
 The account may be opened in individual capacity or jointly with
spouse.
 TDS is deducted at source on interest if the interest amount is more
than Rs. 10,000/- per annum.
 Investment up to Rs. 1, 00,000/- per annum qualifies for Income.
Tax Rebate under section 80C of IT Act.
 Interest can be automatically credited to savings account provided
both the accounts stand in the same post office. Premature closure is
allowed after one year on deduction of 1.5% of the deposit and after
2 years on deduction of 1%.
 No withdrawal permitted before the expiry of a period of 5 years
from the date of opening of the account.
 Non-resident Indians (NRIs) and Hindu Undivided Family (HUF)
are not eligible to open an account.

 Recurring Deposit Account

Post office recurring deposit is small savings scheme promoted by
Govt. of India which can be opened in any of the post offices. One
can deposit as small as Rs. 10 every month. On maturity after 5
years, INR 10/- account fetches INR 728.90/-. Can be continued for
another 5 years on year to year basis. Any individual (a single adult
or two adults jointly) can open an account.

Features of post office recurring deposit

  Minimum INR 10/- per month or any amount in multiples of INR
5/-, No maximum limit.
 6 & 12 months advance deposits earn rebate.
 Four defaults are allowed.
 Defaults can be paid within two months.
 One withdrawal up to 50% of the balance allowed after one year.
 Premature closure allowed after three years.
 Rate of interest 8.4%.
 Full maturity value allowed on R.D. Accounts restricted to that of
INR. 50/- denomination in case of death of depositor subject to
fulfilment of certain conditions.

New products and services introduced by Department

of Posts

In recent years, the Department of posts has tried to leverage its reach and
remittance facility as well as the credibility it enjoys to diversify the range
of financial products and services that the Department of posts can offer to
its customers. With the induction of technology and progressive
computerization of the network, the Department’s capability to provide
more value, added services has increased. Details of some of the services
being presently offered by the Department are given below:-

 Mutual Funds & Bonds:-

 The Mutual funds industry has made rapid strides in the country,
with assets worth nearly Rs.1,550,000 Million this industry is under
the management of various Assets Management Companies. India
Post has entered into the business of retailing mutual funds through
select offices. Since February, 2001, a growing network of over 250
post offices is distributing select mutual funds and bonds. Mutual
fund industry is a new growth area in financial services. Therefore,
as a retailer, India post is expected to gain a higher revenue share
through commissions and trail commissions. Today the financial
services portfolio of India Post has a large number of other relevant
financial products like RBI India Relief Bonds, IDBI Flexi Bonds
and ICICI Pension Fund etc.

 Electronic Fund Transfer:-

A facility for Electronic Fund Transfer was launched in October,

2001, leveraging the VSAT network of the Department to facilitate end-
to-end fund transfers y Banks on behalf of the corporate sector as well as
the Capital Market. Banks use this facility to transfer funds to locations
where they do not have a presence.

 Electronic Clearance Service (ECS):-

The Department of posts has introduced Electronic Clearance

Service (ECS), on a pilot basis, in Mumbai city from 9 th August 2003
through 70 post offices. The Electronic Clearance service is being offered
in connection with payment of interest under the Monthly Income Scheme
(MIS). The depositor can have the facility of automatically transferring
interest from the MIS account and crediting it into the SB account at any
designated bank electronically, by due date, through the RBI Clearing
House. A nominal charge of Rs. 20/- per transactions is levied on the
customers opting for this facility.

 International Money Transfer Service:-

This service provide customers the facility receiving remittances from

more than 196 countries on a real time basis. The service is currently
available from more than 4500 post offices. Remittances in excess of US
Dollars 125 Million have been delivered through this service since April
2001. It has brought in remittance worth 72 Million US Dollars from April
2003 to March 2004 and hs generated a revenue of Rs. 58.9 Million.

The focus of the Department’s initiatives in the area of financial services is

to provide a bouquet of services that will cater to the needs of the
customer, leveraging the retailing outreach of the network, so that the Post
Office gradually becomes a one-stop shop for a range of such services.

 Postal Life Insurance:-

Postal Life Insurance (PLI), introduced in 1884, is the oldest life insurance
scheme for the benefit of Government employees. Initially meant only for
the Postal employees, today it caters to employees of the civil and military
personnel of the central and state governments, local bodies, government
aided educational institutions, universities, nationalized banks, many
autonomous and financial institutions, and public sector undertakings of
the central and state governments. In a major innovation, Rural Postal Life
Insurance (RPLI) scheme was also introduced in 1995 for the benefit of the
entire rural populace.

PLI offers the following types of policies:-

1. Whole Life Assurance (Suraksha)

2. Convertible Whole Life Assurance (Suvidha)
3. Endowment Assurance (Santosh)
4. Anticipated Endowment Assurance for 15 & 20 years (Sumangal)
5. Joint Life Endowment Assurance (Yugal Suraksha)

Comparison of the various Post office savings schemes

Scheme Interest Minimum Maximum Eligibility Tax
Rate Investment Investment Implication
s
– Rs 20
Post 4% per No limit Resident Tax free
Office annum – Non indian , Interest upto
Savings Cheque Minor and Rs 10000
Account Facility Rs Majors from
50 Financial
year 2012-13

5-Year 6.9% per Rs 10 per No Limit Individual Tax benefit

Post annum month upto 5 years
Office (compound under
Recurrin ed section 80 C
g Deposit Quarterly) on deposits
Account
First year –
Post 6.6% pa Rs 200 No limit Individual Tax benefit
Office upto 5 years
Time Second under
Deposit year -6.7% section 80 C
Account pa on deposits
(TD)
Third Year
– 6.9% pa

Fourth Year
– 7.4% pa

Post 7.3 % per Rs 1500 For one Individual Interest

Office annum account earned is
Monthly (compound Rs 1000 holder Rs Individual of Taxable &
Income ed 4.5 lacs age> 60 No
Scheme Annually) and joint years or age deduction
Account account >55 under Sec
(MIS) holders Rs 80C for
9 lacs Deposits
made.
 – Tax rebate
Senior 8.3 % per Maximum years who under
citizens annum deposit have opted section 80 C
(compound over for VRS or for deposits
Savings ed lifetime Superannuat
Scheme Annually) _ allowed at ion – TDS to be
(SCSS) Rs 15 lacs deducted on
interest
earned for
more than
Rs 10000
pa

15 year 7.6 % per Rs 500 per Rs 1.5 lacs Individual Tax rebate
Public annum financial per under
Provident (compound year financial section 80 C
Fund ed year for deposits
Account Annually) (maximum
(PPF) Rs 1.5 lacs
pa

National 7.6 % per Rs 100 No Limit Individual Tax rebate

Savings annum under
Certificat (compound section 80 C
es (NSC) ed for deposits
Annually) (maximum
Rs 1.5 lacs
pa

Kisan 7.3 % per Rs 1000 No limit Individual Interest is

Vikas annum (Adult) taxable but
Patra (compound no tax on
(KVP) ed amount
Annually) received on
maturity

Sukanya 8.1 % per RS 1000 Rs 1.5 lacs Girl Child – Investment

Samriddh annum per per Upto 10 (upto Rs 1,5
i (compound financial financial years from lacs exempt
Accounts ed year year birth and 1 under
Annually) additional Section
year of 80C),
grace interest and
Amount
received on
maturity is
tax free
Benefits of post office saving schemes

 Account can be opened by cash only.

 Cheque facility can be taken in an existing account also.
 Nomination facility is available at the time of opening and also after
the opening of the account.
 The account can be transferred from one post office to another.
 One account can be opened in one post office.
 The account can be opened in the name of the minor and a minor of
10 years and above age can open and operate the account.
 A joint account can be opened by two or three adults.
 At least one transaction of deposit or withdrawal in three financial
years is necessary to keep the account active.
 A single account can be converted into Joint and Vice versa.
 Minor after attaining majority has to apply for conversion of the
account in his name.
 Deposits and withdrawals can be done through any electronic mode
in CBS Post offices.
 Inter Post office transactions can be done between CBS post offices.
 ATM/ Debit Cards can be issued to Saving Account holders (having
prescribed minimum balance on the day of issue of the card) of CBS
post offices.
 CHAPTER-III

DATA ANALYSIS

Data analysis is a process of inspecting, cleansing, transforming, and

modelling data with the goal of discovering useful information, informing
conclusions, and supporting decision-making. The process of evaluating data
using analytical and logical reasoning to examine each component of the data
provided.

TABLE No 4.1

DISTRIBUTION OF RESPONDENTS BY GENDER

Customer Mode
Gender No of Respondent Percentage (%)
Female 22 44
Male 28 56
Total 50 100

Object 3
Interpretation: according to above data, it reveals that majority respondents i.e.
56% of males, who are investing in post office scheme & 44% females are
investing post office scheme. It shows that majority users are male respondents.

TABLE No 4.2

DISTRIBUTION OF RESPONDENTS ACORDING TO THEIR AGE

Age of Group Of Customers

Age Class No. of. Respondents Percentage
Up to 18 2 4
18-30 44 88
30-50 4 8
50-60 0 0
Above 60 0 0
Total 50 100

Object 5

INTERPRETATION:
From the chart it is seen that people from the age group of up to 18 year
i.e. by 4%, 18-30 of 88% between the age group of 30-50 it is 4% and
above the age of 60 it is 0%.

From the survey it is noticed that 18-30 age group of people more invest in
post office scheme rather than the other age group.

TABLE No 4.3

DISTRIBUTION OF RESPONDENTS BY

EDUCATION

Education
Education No of Respondent Percentage
Illiterate 0 0
Less than HSC 3 6
Graduate 30 60
Post Graduate 14 28
Other 3 6
Total 50 100

Object 7
INTERPRETATION:
From the above table it reveals that highest investors are from graduates & then
followed by post graduates. The lowest investors in post office scheme are other
people who may be illiterate or as the still studying.

TABLE No 4.4

DISTRIBUTION OF RESPONDENTS BY PROFESSION

PROFESSION
Profession No. of respondents Percentage (%)
Government employee 3 6
Private employee 15 30
Self employed 5 10
Students 25 50
Housewife 2 4
Other 0 0
Total 50 100
 Object 9

INTERPRETATION:
The result shows that majority of respondents that are investing in post office
scheme are students 50% who are studying plus working & private employees
30% they are investing in post office scheme because it results in time saving.
And lowest 4% investors are homemaker who may be investing with their
savings .
 TABLE No 4.5

DISTRIBUTION OF RESPONDENTS BY MARITAL STATUS

MARITAL STATUS
Education No of Respondent Percentage
Married 4 8
Unmarried 46 92
other 0 0
Total 50 100
 Object 11

INTERPRETATION:

From the above diagram 8% people are married and 92% people are
unmarried used post office scheme.
It is surveyed that majority of people are unmarried saving in post office
scheme.

TABLE No 4.6

DISTRIBUTION OF RESPONDENTS BY MONTHLY INCOME LEVEL

Category of Income Level

Income Level No. of. Respondents Percentage
Up to 10000 12 24
10000-30000 12 24
30000-50000 3 6
Above 50000 3 6
Still not earning 20 40
Total 50 100
 Object 13

INTERPRETATION:

It is seen that people with the monthly income Up to 10000 are 24%,
10,000-30,000 are 24%, 30,000-50,000 are 6% and above 50,000 are
6%.still not earning respondent invest 40%.

From the above diagram majority of 40% people monthly income is

highest that is still not earning.

TABLE No 4.7

DISTRIBUTION OF RESPONDENTS BY AWARENESS ABOUT

POST OFFICE SCHEME

Awareness about post office scheme

Percentage
Status No of Respondent Percentage
Yes 21 42
No 20 40
Maybe 9 18
Total 50 100
 Object 15

INTERPRETATION:

The above table reveals that 42% of responders are aware of insurance service
& the 40% of people are unaware of insurance services. It shows that maximum
people know the insurance service & they use it.

It means most no of respondent are aware about post office scheme.

TABLE No 4.8

DISTRIBUTION OF RESPONDENTS ACCORDING TO THEIR DO

YOU HAVE POST OFFICE SCHEME

Status No of Respondent Percentage

Yes 20 40
No 30 60
Total 50 100
 Object 17

INTERPRETATION:

The above table shows that, 40% of the respondents are having post office
scheme. 60% are not having post office scheme.

Most of respondents not having post office scheme .

TABLE No 4.9

DISTRIBUTION OF RESPONDENTS ACCORDING TO THEIR HOW

MUCH YOU ARE SAVING PER MONTH

HOW MUCH YOU ARE SAVING PER MONTH

Status No of Respondent Percentage
Less than 1000 37 84
1000-5000 8 16
5000-10000 3 6
Above 10000 2 4
Total 50 100
 Object 20

INTERPRETATION:-

People are invested by the 84% people invest in below 1000,1000-5000 are
16%, 5000-10000 are 6% & above 10000 are 4%.

Less than 1000 amount are more invest in a post office scheme .

TABLE No 4.9

DISTRIBUTION OF RESPONDENTS ACCORDING TO THEIR HOW

LONG YOU ARE SAVING IN POST OFFICE SCHEME

HOW MUCH YOU ARE SAVING PER MONTH

YEAR No of Respondent Percentage
Less than 3 year 36 82
3-5 Year 9 18
5-10 Year 4 8
Above 10 Year 1 2
Total 50 100
 Object 23

INTERPRETATION:-

It is above diagram people are invest from less than 3 year is 82%, 3-5
year is 9%, 5-10 year are 8% and above 10 year are 2%.

It is shown that less than 3 year is 38% people invested by this service.

TABLE No 4.9

DISTRIBUTION OF RESPONDENTS ACCORDING TO THEIR

SOURCES OF KNOWLEDGE ABOUT POST OFFICE SCHEME

SOURSES OF KNOWLEDGE ABOUT PST OFFICE SCHEME

SOURSES No of Respondent Percentage
Friends /Relatives 38 86
Agent 3 6
Advertisement 3 6
Other 6 12
Total 50 100
 Object 25

INTERPRETATION:

It is interpretation post office saving scheme related sources of knowledge

issue by the friends/relatives 86%, Advertisement 6%, agent 6%, and
others 12%.

Post office saving scheme related majority of higher knowledge from the
friends / relatives.

TABLE No 4.9

DISTRIBUTION OF RESPONDENTS ACCORDING TO THEIR WHAT

IS PURPOSE YOU ARE SAVING FOR…

WHAT IS PURPOSE YOU ARE SAVING FOR..

PURPEOSE No of Respondent Percentage
Food /Clothing 2 4
Safety 9 18
Tax Benefit 2 4
Future Plan 35 70
Other 2 4
Total 50 100
 Object 27

INTERPRETATION:

Purpose of savings to the investment in food/ clothing is 4%, , safety is

18%, tax benefit 4% , future plan 70% and other 4%.

It is most sufficient to the majority of the people are saving to the schemes
for the purpose of future plan.

TABLE No 4.9

DISTRIBUTION OF RESPONDENTS ACCORDING TO THEIR WHICH

SCHEME OF DEPOSIT DO YOU PREFER

WHICH SCHEME OF DEPOSIT DO YOU PREFER

SCHEMES No of Respondent Percentage
Post Office Saving Account 29 58
Post Office Time Deposit 3 6
Public Provident Fund 9 18
Postal Insurance 9 18
Post office monthly income scheme 10 20
Total 50 100
 Object 30

INTERPRETATION:-

Post office saving scheme deposit 58% people, post office time deposit
6%, post office monthly income scheme 20%, public provident fund 18%
and postal insurance 18%.

It is a survey then conclude by 58% peoples are deposited in post office

savings a/c.

TABLE No 4.9

DISTRIBUTION OF RESPONDENTS ACCORDING TO THEIR

CLOSED THE SCHEME OF PREMATURELY

CLOSED THE SCHEME OF PREMATURELY

SCHEMES OF No of Respondent Percentage

PREMATURELY
Yes 19 38
No 31 62
Total 50 100
 Object 32

INTERPRETATION:-

Post office saving scheme is a people account closed in a prematurely by

38% and not closed prematurely a/c by 62%.

Interpretation 31 respondent prematurely a/c closed in a post office saving

scheme.

TABLE No 4.9

DISTRIBUTION OF RESPONDENTS ACCORDING TO IF YES

PLEASE SPECIFY THE REASON

CLOSED THE SCHEME OF PREMATURELY

STATUS No of Respondent Percentage

Do to personal reason 23 46
To invest in another scheme 3 6
Poor customer service 2 4
Low return 3 6
Other 19 38
 Total 50 100

Object 34

INTERPRETATION:-

Account closed is a reason by Due to personal reason 46%, low return 6%,
to invest in another scheme 6% , poor customer service 4%.and other
reason 38%.

It is a reason by a/c closed prematurely is a due to personal reason.

TABLE No 4.11

DISTRIBUTION OF RESPONDENTS ACCORDING TO THEIR MAJOR

PROBLEM FACED IN POST OFFICE SAVING SCHEME

MAJOR PROBLEM FACED IN POST OFFICE SCHEM

Status No of Respondent Percentage
Administration problem 8 16
Irregular income 12 24
Internet Problem 8 16
other 22 44
Total 50 100
 Object 36

INTERPRETATION:-

From the above table, administration problem faced by respondents 16%,

irregular income faced by respondents 24%, internet problem faced by
respondents 16%, and other problem faced by respondents 44%.

The most of respondents faced other problem.

TABLE No 4.11

DISTRIBUTION OF RESPONDENTS ACCORDING TO THEIR DO

YOU FEEL POST OFFICE SCHEM IS BETTER THAN OTHER
OPTION

POST OFFICE SCHEME IS BETTER THAN OTHER OPTION

Status No of Respondent Percentage
Yes 32 64
No 18 36
Total 50 100
 Object 38

INTERPRETATION

This findings 32 people feel by post office saving scheme and 18 people
not feel by post office saving scheme compare to other post office scheme.

Post ofice saving scheme is a more beneficial to people and feel better to
deposits in this schemes.

TABLE No 4.11

DISTRIBUTION OF RESPONDENTS ACCORDING TO THEIR

SATISFACTION OF YOUR POST OFFICE SCHEME

POST OFFICE SCHEME IS BETTER THAN OTHER OPTION

Status No of Respondent Percentage
Satisfied 27 54
Highly Satisfied 0 0
Neutral 23 46
Dissatisfied 0 0
Highly Satisfied 0 0
Total 50 100
 Object 40

INTERPRETATION

Satisfaction level is highly satisfied of the poeple are 0%, satisfied 54%,
neutral 46%, dissatisfied 0% and highly dissatisfied 0%.

Satisfaction of the respondent related to scheme performance level

satisfied .

TABLE No 4.11

DISTRIBUTION OF RESPONDENTS ACCORDING TO THEIR ANY

INTENTION TO INCRESE YOUR SAVING IN FUTURE

ANY INTENTION TO INCEASE YOUR SAVING IN FUTURE

Status No of Respondent Percentage
Yes 47 94
No 3 6
Total 50 100
 Object 42

INTERPRETATION

Intention to increase savings in future respondent counted by a 47 and not

increase by saving in future is a 3 respondent

Survey of post office saving scheme is more than people are increases your
saving level in future.

TABLE No 4.11

DISTRIBUTION OF RESPONDENTS ACCORDING TO THEIR

CHANGES YOU LIKE TO ACCURE IN FUTURE IN THE POST
OFFICE SCHEME

CHANGES YOU LIKE TO ACCURE IN FUTURE IN POST OFFICE

SCHEME
Changes No of Respondent Percentage
Scheme/ Service 12 24
Employee approach 2 4
Technological improvement 15 30
Benefit 15 30
Other 6 12
Total 50 100

Object 44

INTERPRETATION

Changes like to accrue in future in the post office scheme scheme/services

respondent says scheme/service is 24%, employee approach is 4%,
technological improvement is 30%, benefit is 30%, and other is 12%.

TABLE No 4.11

DISTRIBUTION OF RESPONDENTS ACCORDING TO THEIR FIRST

PREFERENCE IS

FIRST PREFRENCE IS
Changes No of Respondent Percentage
Saving then spending 30 60
Spending then saving 20 40
Total 50 100
 Object 46

INTERPRETATION:-

The above table 60% respondents giving first priority to saving then
spending and 40% respondents giving priority to spending then saving.

Most respondents giving priority to saving then spending.

TABLE No 4.11

DISTRIBUTION OF RESPONDENTS ACCORDING TO THEIR HOW

DO YOU RATE THE POST OFFICE SCHEME

RATING
Rating No of Respondent Percentage
1 0 0
2 6 12
3 2 4
4 3 6
5 13 26
 6 11 22
7 11 22
8 2 4
9 1 2
10 1 2
Total 50 100

Object 48

Interpretation

The above table reveals that the 26% responders given the stable rate that
is 5th not as much high, not as much low & followed by the 22%
responders are rated as the 6th and 7th.The 12% responders given the 2nd
rate, Maximum number of people given 5th rate.

CHAPTER
FINDINGS & CONCLUSIONS

FINDINGS

 Maximum respondents having post office scheme by the middle age

group.
 Post office scheme is mostly preferred by the students and job holders.
  Post office scheme is usually preferred by small families.
 Mostly people prefer post office scheme to cover their future benefit.
 Most of the people are satisfied with the policy which they have taken.
 Friends /Relatives is the one of the major source that provides
information regarding post office scheme.

CONCLUSION

 People should be made aware of various other benefit attached with post
office scheme other that the factor of future benefit.
 Promotional techniques should be enhanced to create more awareness
among people.

 Today postal department has to equip itself by improving its service

and saving schemes to satisfy the customers.
 In the light of changing environment, it has to constantly upgrade
its knowledge of the internal and external environment to understand
the customer relationship properly.

 Saving is important for human life as savings gives life and security.
 Post office saving schemes for customer to face by problem in the
deposits savings in the a/c to lack of irregular income in the saving
schemes.

 It can be concluded, that Indian Postal Service needs technological,

social, cultural & economic change. With a little bit of change, it
can create a monopoly in the market.
 Indian postal services is only one central government services for
Indian peoples as well as post card, postal stamp KVP, NSC, MIS
and other some product which is best campier to other private
company like Postal life insurance.
 BIBLOGRAPHY

BOOKS

 Post office service book volume-III

 Rural marketing in post office

REFERENCE

 www.indiapost.gov.in/posb.aspx
  Post office saving schemes
 Slide share .com

APPENDIXES

Personal Information

Name

Age

 15-30
 30-45
 45-60
 >60

Gender
  Male
 Female

Marital status

 Married
 Single
 Other

Educational qualification

 Under graduate
 Post graduate
 Other

Occuption

 Private employee
 Professionals
 Pensioner
 House wife
 Others

Monthly income

 >10,000
 10,000-20,000
 20,000-30,000
 >30,000

PART – B
Do you have post office saving scheme account?

 Yes
 No

Do you have post office scheme ?

 Yes
 No

How mush you are saving per month?

 Less than 1000

 1000-3000
 3000-5000
 Above 5000

How long you are saving in post office scheme?

 Up to 3 yrs.
 3-5 yrs.
 5-7 yrs.
 Above 7 yes

Sources of knowledge about post office scheme?

 Friends/Relatives
 Agents
 Advertisement
 Other

What purpose you are saving for..?

 Food/ clothing
 Safety
 Tax benefit
  Future plan

Which scheme of deposit do you prefer?

 Post office saving a/c

 Post office time a/c
 Public provident fund
 Senior citizen scheme
 Post office monthly income scheme
 Postal insurance

Utilization of maturity amount ?

 No re-investment
 Invest in other post office saving schemes
 Invest in other investment options
 Redeposit in the same scheme
 Others

Have you closed any a/c prematurely ?

 Yes
 No

If, yes please specify the reason ?

 Due to personal reasons

 Low return
 Unattractive terms and condition
 To invest in another scheme
 Poor customer service
 For repaying other debts
 To start any business
Major problem faced by you while makig deposit in post office
saving schemes?

 Administration problem
 Irregular income
 Internet problem
 Others

Do you feel post office saving schemes are better than other
options?

 Yes
 No

Satisfaction of your post office saving scheme?

 Highly satisfied
 Satisfied
 Not bad
 Dissatisfied
 Highly dissatisfied

Do you have any intention to increase your saving in future?

 Yes
 No
Changes you like to occur in future in the post office ?

 Schemes/ Service
 Employees approach
 Infrastructure inconveenience
 Benefits
 Technological improvement
 Others

Your first preference is?

 Giving priority to saving and then to household spending

 Giving priority to household spending and then savings

How do you rate the insurance sector in India?

1 as high________ 10 as low
o 1 High
o 2
o 3
o 4
o 5
o 6
o 7
o 8
o 9
o 10 Low