If you have opened a savings account in the post office, then this news is for you. Actually, it has become necessary to maintain a minimum balance of at least Rs 500 in the Post Office Savings Bank (POSB) account.
Actually, the interest in India Post Post Office Savings Account is calculated on the basis of the minimum balance in the account between the 10th of the month and the end of the month. If in any month between the 10th and the end of the month, the amount in your account is less than Rs 500, then no interest will be payable for that month. Therefore, remember that at least a minimum balance of Rs 500 should be maintained between the 10th and the last date of the month in your post office savings account.
Penalty will have to be paid for not having Rs 500 in the account,
along with it it is necessary to maintain a minimum balance of Rs 500 in the post office savings account. If the minimum balance is not maintained, a maintenance fee of Rs 100 will be deducted from the account on the last day of every financial year. After deducting the fee, if the balance in the account becomes Nil, then it will be closed automatically. A minimum withdrawal of Rs 50 can also be made from the post office savings account. At the time of closure of the account, interest will be paid up to the preceding month in which the account was closed.
Rules for opening
Post Office Savings Account Any person can open a Post Office Savings Account in the post office. Explain that a minor above the age of 10 years can open an account in the post office in his own name, apart from this, the guardian can also open the account of minors.
Best Savings Schemes of
India Post India Post offers a number of small savings schemes, commonly known as post office savings schemes. These schemes include Post Office Savings Account, Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY), National Savings Certificate (NSC), Post Office Time Deposit for 5 years, Kisan Vikas Patra (KVP) and Senior Citizen Savings .
These conditions not stops account on completion
will be the savings account of the post office that constantly no transaction for three financial years, that has been deposited no money and turned out not only the account closed or dormant. After this, you may not be able to take advantage of the services related to the post office savings account.
