Monday, August 22, 2016

Savings Account in Post Office

Savings Account in Post Office

Apart from banks, the Indian Post Office also offers a savings account with the following features:
Interest: Interest is offered at the rate of 4% p.a.
Opening charges:Rs.20 is charged when opening the account.
Minimum balance:
For accounts with cheque facility: Rs.500.
For accounts without cheque facility: Rs.50.
Accounts are transferrable between post offices.
Minor accounts can be opened for ages 10 and above.
Single accounts and Joint accounts can be created as per the requirement.

In order to open an Indian Post Office savings account, applicants must approach their nearest post office branch.

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