Post Office Savings Account: The Central Government has issued a notification regarding the new rules related to saving account. Let’s know about it …
If you have an account in the savings bank account of the post office, then this news is very important for you. Because the rules related to saving account have been changed. In the news of the English newspaper Economic Times, it has been told that the government has changed its rules to allow some people to open zero balance savings accounts in the post office. At present, it is necessary to keep a minimum balance in the post office savings account. Charges are incurred if you do not do this.
People invest in post office savings schemes as a safe option. The entire money invested in it is guaranteed to be 100 percent safe.
Sovereign guarantees on its deposits, that is, if the post office fails to return the money of the account holders, then the government guarantees the investors money.
What does the new rule say
The Finance Ministry has issued a notification on April 9, 2021 regarding the saving bank account of the post office. It has been told that who can open zero balance saving accounts in the post office.
Any individual means that any common person can open an account. Who is a registered adult member of any government welfare scheme and registered by the guardian of a minor for whose name any government benefit.
The basic savings account opened by these people will be a zero balance account. But it cannot be opened in more than one place. Money from government Kalyani schemes and any other scheme can also be deposited in this account.
If you are taking advantage of any government benefits like pension, scholarship, LPG subsidy etc. and do not want to keep the minimum balance in your savings account, then you can open such a zero-balance account with the post office.
Know about post office saving account
A savings account is opened in the post office for 500 rupees. Only one savings account can be opened in a post office. At present, the annual interest rate on the Post Office Savings Account is 4 percent.
It can be opened in single or joint, in the name of a minor child over 10 years of age, for the mentally weak person.
Check / ATM facility on post office savings account, nomination facility, facility to transfer account from one post office to another, intra operable netbanking / mobile banking facility, online fund transfer facility between post office savings accounts is available. To keep the account active, it is necessary to deposit or withdraw at least once within 3 financial years.
Zero balance accounts open in the bank
It is believed that the government is giving permission to open a zero balance account with the post office, which used to be opened with banks earlier. At present, banks also allow opening of Zori balance accounts.
The Reserve Bank of India (RBI) has allowed banks to open zero balance account under Jan Dhan Yojana / Basic Savings Bank Deposit Account (BSBDA).
Zero balance account rules are strict
Basic Savings Bank Deposit Account (BSBD) are those bank accounts that can be opened with zero balance.
There is no need to keep any minimum amount in it. Earlier, only accounts like regular savings account got additional facilities.
There is a need to keep minimum amount in these accounts and other charges have to be paid. RBI has asked banks to provide BSBD account facility as a savings account.
Net banking, phone banking and mobile banking are available in BSBD accounts. In this account, the bank statement is given free on the bill pay, email.
Customers are provided with the facility of safe deposit locker. In this account, account holders get free passbook and facilities like free check-cash deposit in bank and ATM.
But zero balance accounts are opened with some restrictions. Yes, like the BSBDA account opener, the maximum deposit that can be kept in the account is Rs 50,000.
The total deposits under BSBDA account cannot exceed Rs 1 lakh in any one financial year. Also, the maximum amount to be withdrawn in a particular month cannot exceed Rs 10,000. No more than four withdrawals are allowed in a month.
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