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POST OFFICE SAVINGS ACCOUNT

"A scheme can be opted by everyone"

It works similar to any bank account saving account where the interest is tax-free. It works similar to any bank account saving account where the interest is tax-free. One can invest a maximum of Rs. 1 lakh and jointly 2 lakh. The account could be open in the name of a minor but with a guardian.

FEATURES
  • Minimum amount of Rs 20/- can be invested, in cash

  • Minimum amount of Rs 50/- can be invested, in a cheque

  • Minimum balance of Rs 500/- has to be maintained in the cheque account

  • Maximum balance permitted is Rs 1 lakh in a single account

  • Maximum balance permitted is Rs 2 lakh in a joint account

  • Account can be open on behalf of minors also

  • Interest of P.O. Saving a/c in tax-free

Product Note

Rate of Interest: @4.00% P.A.
Type of Interest:  FLOATING RATE DURING THE TENURE

  • Minimum Amount Required:  INR 1000/-
  • Maximum Amount Limit: No Maximum Limit
  • Who can Invest : (i) a single adult (ii) Joint Account (Maximum 2 adults) (iii) Minor above 10 years of age (iv) A guardian on behalf of a minor
  • Documents Required : (i) 2 photographs (ii) along with a self-attested copy of PAN Card and Aadhaar Card

POSTAL SCHEMES AT A GLANCE