Post Office Saving Bank

Salient Features

•Minimum amount Rs 20/- in case of noncheque 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 is Rs. 1,00,000/- in a single account and 2,00,000/- in a Joint account.
•Two/Three adults, individuals, minor through guardian can open an account.
•A minor having attained 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.