- 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 AccountAny individual can open an account.
Cheque facility available.
Group Account, Institutional Account, other Accounts like Security
Deposit account & Official Capacity account are not permissibleRate of interest 3.5% per annum
This blog will help you in Financial Planning, Investment Planning and Tax Planning. Plan your retirement from now and save tax to save your money..
Jul 25, 2010
Investment in POST OFFICE SAVINGS Account
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