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The Post Office Savings Account
INTRODUCTION:
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Minimum deposit ₹500.
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No maximum deposit limit.
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A person may open the account in his own name individually or jointly with an adult person.
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A person may open the account on behalf of a minor of whom he is the guardian or a person of unsound mind.
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A minor who has attained the age of 10 years may open the account independently.
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Interest in the account up to ₹ 10,000 qualifies for deduction from Income in a financial year under section 80 TTA of Income Tax Act.
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Facility of cheque is available.
Click for Scheme Rule(
1981 and
2019 )
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