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