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Integrated Postal SavingsOverview

Last updated:2022/09/30 Print
The integrated postal savings account combines passbook savings and time deposits into a single savings account. Deposits and withdrawals can be made as previously arranged by presenting the corresponding account book. For account holders who have applied for automatic pledge services, all time deposits under the integrated postal savings account are pledged by default. If the savings account has insufficient funds, a loan can be automatically drawn on the pledged time deposits to cover the savings account; loans drawn will be automatically repaid once deposits are received in the savings account.
Opening an account:
According to the Section 19 of the Postal Remittances and Savings Law, "Savings accounts are limited to one per person or per organization only". For account holders who have already opened a savings account and wish to open an integrated postal savings account, please present your account book, authorized seal, and national ID card to change the passbook savings account into an integrated postal savings account. The opening of additional accounts is not permitted.
In the case of those who have not opened a passbook savings account, the person must open an account in accordance with passbook savings regulations, and should check "general deposit of the account application form.
Those applying for integrated savings accounts must first obtain a "postal integrated savings agreement" and review relevant binding matters.
Time deposits:
Types of time deposits: round-amount savings and annuity savings, which have terms of 1, 3, 6, 9 month(s) and 1, 2, 3 year(s), and designated maturity date round-amount savings (at least 1 month but no more than 3 years); however, the post office does not offer 1-month annuity savings, and the minimum deposit amount is NT$10,000. When a depositor already has a CD, that deposit must be terminated at maturity before the depositor may transfer funds to integrated savings time deposits.
Deposits and withdrawals:
Passbook savings deposits and withdrawals are uniformly handled in accordance with passbook savings regulations. When time deposits are deposited, the depositor must fill out a "integrated postal savings certificate of deposit" and present your integrated savings passbook, and the funds to the post office where the account was opened. Upon reaching maturity, integrated savings time deposits may be either renewed or not renewed. When renewed, the depositor may designate that the principal be automatically renewed for a new term an unlimited number of times, and interest will automatically be transferred to the person's passbook account; renewal of principal and transfer of interest to passbook savings may be performed for both round-amount savings time deposits and installment interest accounts. Alternatively, principal and interest can be automatically renewed in one sum an unlimited number of times; however, automatic renewal of principal and interest is limited to renewal as round-amount savings time deposits time deposits, and when designated maturity date round-amount savings time deposits have a fragmentary number of days (not full months), automatic renewal and change to renewal at maturity is not permitted. When not wishing to renew, the depositor may specify that the principal and interest shall be automatically transferred to the depositor's own passbook account. Before time deposit reaches maturity, the depositor may apply to change the renewal term and interest rate type that the post office where the account was opened. Terminating time deposit agreements midway and withdrawing funds at the maturity date may only be performed at the post office where the account was opened, and relevant online post office (including e-mobile post office) services are limited to natural persons' accounts, and not secured loans. When integrated savings accounts are liquidated, if there are any time deposits that have not reached maturity, the agreement must be terminated before all funds may be withdrawn. There are 2 time deposit account pages providing a total of 40 lines in integrated savings passbooks, and each line is for 1 transaction; if the number of deposit transactions exceeds this number, the excess transactions shall be changed to CD-type deposits.
Loans and repayment:
After applying for automatic secured loan functions, if the depositor's passbook savings deposit balance is insufficient at the time of withdrawing funds from passbook savings, making payments from the account, or performing account transfer withdrawals, the amounts will be automatically paid from the secured loan in amounts up to 90% of the depositor's time deposits. If there are multiple time deposits, the loan will be initiated from the deposit with the lowest interest rate; loan interest shall be calculated on the basis of the time deposit secured loan interest rate, shall be assessed at the end of each calendar month, and shall be deducted from the depositor's passbook savings balance on the first day of the following month. The foregoing loans shall be automatically repaid when savings (including upon termination of time deposit agreement) are deposited in passbook savings. If the loan is saved back on that day, 1 day's interest will still be assessed.
Interest: please refer to time deposits/application and service items
Passbook savings interest:
Passbook savings interest on integrated savings shall be calculated on the basis of the passbook savings interest rate specified in the current "postal savings interest rate table (annual interest)."
Time deposit interest:
Integrated savings time deposit interest and pledged loan interest shall be calculated on the basis of the current time deposit interest rate and pledged loan interest rate.
When the time deposit account was opened or renewed, the transaction amount meets the standard for the announced large deposit interest rate, the announced large time deposit savings interest rate shall be applicable.
Income tax:
Individuals: In the case of individuals living within the territory of the ROC (lived within the national territory for 183 days or more within one taxable year), when the individual's interest income exceeds NT$20,010, except when the person can present a savings exemption from withholding certificate, 10% income tax shall be withheld in all cases; in the case of individuals not living within the territory of the ROC (lived within the national territory for fewer than 183 days within one tax year), 20% income tax will be withheld in all cases regardless of the amount of interest income.
Domestic juridical person: When interest income exceeds NT$20,010, except when an exemption from withholding verification letter has been received from the tax authority, 10% income tax shall be withheld in all cases.
Interest supplementary insurance premium:
When a natural person's one-time savings interest payment exceeds NT$20,000, an interest supplementary insurance premium will be withheld in accordance with the supplementary insurance premium rate specified by the National Health Insurance Administration, Ministry of Health and Welfare.
The integrated savings account may not be transferred,except when all time deposits have been closed. If a depositor wishes to open an account at another post office, the depositor must close the original account at the post office where the account was opened. In accordance with law, when the interest on integrated savings time deposits is transferred to passbook savings, income tax on the interest will be deducted. Other matters not covered in accordance with integrated savings regulations shall be handled in accordance with passbook savings and time deposit regulations.
iPost(including our mobile application):
If the integrated savings account holder have applied for iPost or APP service may obtain the following integrated savings services via iPost or APP:
Time Deposit Inquiry
Transfer to time deposit:
The minimum deposit is NT$10,000 per deposit.
Maximum deposit amount: Single and daily/monthly accumulated limitation for deposit is NT$5,000,000 (including deposits placement via iPost and APP).
Change disposal instruction at maturity:
Individual accounts only.
When designated maturity date round-amount savings have a fragmentary number of days (not full months), automatic renewal and change disposal instruction at maturity is not permitted. Renewal of both principal and interest is not permitted in the case of annuity savings.
Premature withdrawal:
Individual accounts only, and must have integrated savings time deposits with no pledged loans
Change automatic pledge
Individual accounts only.