POST OFFICE SAVING ACCOUNT

                    Savings Account

• Rate of interest 4% per annum

• Minimum INR 20/- for opening.

•  Account can be opened by cash only.

•  Minimum balance to be maintained in a non-cheque 

 facility account is INR 50/-.

•  Cheque facility available if an account is opened with INR

  500/- and for this purpose minimum balance of INR 500/-in

  an account is to be maintained.

•  Cheque facility can be taken in an existing account also.

•  Interest earned is Tax Free up to INR 10,000/-  per year 

 from financial  year 2012-13.

•  Nomination facility is available at the time of opening and

  also after opening of account.

  

•  Account canbe transferred from one post office to another. 


•  One account can be opened in one post office

•  Account can be opened in the name of minor and a minor

    of 10 years and above age can open and operate the

    account.

•  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.

•    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 Savings Account 

  holders( having prescribed minimum balance on the day of 

  issue of card) of CBS Post offices.