Pashupatinagar, Apr. 29

Postal banking facility is gaining popularity among the locals because of its easy and efficient services.

The postal saving banking service, which is being offered by the Ilam district post office, offers various facilities to beneficiaries.

One can open his/her account with just Rs. 100 at the postal saving bank that offers an annual interest of 8 per cent. It also has run saving account for elderly people.

Until now, a total of 520 persons have opened their accounts at the bank. "As the amounts being saved in the postal saving bank are tax-free and secure, more people have been attracted towards this," said Laxmi Khanal of the postal saving bank.

According to Khanal, the employees working with the bank borrow the amounts.

During the last fiscal year, a total of Rs. 24,393,251 was collected. The postal banking service lent Rs. 1,128,758 to 42 employees.

An account holder can save as much as Rs. 1 million in his/her account.

"Although there are several banks in Ilam, the locals are attracted towards postal banking service," said Pradeep Shrestha, chief of the district postal office, Ilam.