Post
Office Savings Account
Scheme
|
Interest
payable, Rates, Periodicity etc.
|
Minimum
Amount for opening of account and maximum balance that can be retained
|
Salient
features including Tax Rebate
|
Post Office Savings
Account
|
4%per annum on individual/ joint
accounts.
|
Minimum INR 20/- for opening.
|
Ø Account
can be opened by cash only.
Ø Minimum
balance to be maintained in a non-cheque facility account is INR 50/-.
Ø 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.
Ø Cheque
facility can be taken in an existing account also.
Ø Interest
earned is Tax Free up to INR 10,000/- per year from
financial year 2012-13.
Ø Nomination
facility is available at the time of opening and also after opening of
account.
Ø Account
can be transferred from one post office to another.
Ø One
account can be opened in one post office
Ø Account
can be opened in the name of minor and a minor of 10 years and above age can
open and operate the account.
Ø Joint
account can be opened by two or three adults.
Ø At
least one transaction of deposit or withdrawal in three financial years is
necessary to keep the account active.
Ø Single
account can be converted into Joint and Vice Versa.
Ø Minor
after attaining majority has to apply for conversion of the account in his
name.
Ø Deposits
and withdrawals can be done through any electronic mode in CBS Post offices.
Ø Inter
Post office transactions can be done between CBS post offices
Ø 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.
|
For complete list of all schemes and details, CLICK HERE
