Jul 25, 2010

Investment in POST OFFICE SAVINGS Account

  • Minimum amount Rs20/- in case of non- cheque account, Rs.500/- in case of cheque account.
  • Minimum balance of Rs.500/- is to be maintained for a cheque account.
  • Account is opened with cash only.
  • Maximum balance permissible Rs. 1,00,000/- in a single account and 2,00,000/- in Joint account.
  • Two/Three adults, individuals, minor through guardian.
  • A Minor having 10 years of age can also open an account directly.
  • One individual account and one joint account can only be opened at a post office.



    Savings Account
             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
         Rate of interest 3.5% per annum

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