Introduction of MIS, SCSS, and MSSC Account Opening via DOP Internet Banking for Post Office Savings Bank Customers

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Vide SB Order Dated 26.10.2023 The Department of Posts (DOP) has introduced the option to open Monthly Income Scheme (MIS) accounts, Senior Citizens Savings Scheme (SCSS) accounts, and Mahila Samman Savings Certificate (MSSC) accounts through DOP Internet Banking, starting from October 20, 2023. This initiative aims to provide more digital transaction facilities to customers of the Post Office Savings Bank (POSB).

Here are the steps to open these accounts through DOP Internet Banking:

Procedure:

1. Log in to DOP Internet Banking as a Post Office Savings Account Customer.
2. Click on the 'General Services' tab.
3. Under 'Service Requests,' select 'New Requests' and click 'Ok.'
4. Choose one of the following options based on the account type you want to open:
  •    'MIS Accounts - Open a MIS Account'
  •    'MSSC Accounts - Open a MSSC Account'
  •    'SCSS Accounts - Open a SCSS Account'
5. Enter the deposit amount, which should adhere to the scheme rules.
6. Select the debit account (linked PO Saving Account).
7. Enter any necessary 'Transaction Remarks.'
8. Check the box to agree to the terms and conditions (you can review the conditions by clicking on the provided link).
9. Click 'Submit online.'
10. If additional details are required, enter them in the 'Remark' field.
11. Enter the 'Transaction Password.'
12. Click 'Submit.' The account will be opened if all conditions are met.

Additional Information:

  • The newly opened account will be available in the Accounts summary after a few minutes and after re-logging into Internet Banking.
  • Only one type of account can be opened, and it will be in the name of the DOP Internet Banking user. Nominee(s) available in the linked Savings Account will be registered as the nominee for the newly opened MIS/SCSS/MSSC account.
  • SCSS accounts can only be opened by depositors aged 60 or above. Individuals below 60 years of age who are eligible to open SCSS accounts need to visit the post offices for account opening.

Closure of MIS/SCSS/MSSC scheme accounts through Internet Banking will be introduced shortly.

It is recommended to share these instructions with all post offices for their information and guidance. Adequate information about this functionality should be disseminated for the benefit of POSB customers. Additionally, post offices should be encouraged to promote the activation of Internet Banking and Mobile Banking among Post Office Savings Account Holders.

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