Saving Bank Accounts

4% Interest per annum on individual /joint accounts.

​Salient features including Tax Rebate​ :

  • Account can be opened by cash only
  • Minimum balance to be maintained in a non-Cheque facility account is INR 50/-
  • Cheque facility available if an account is opened with INR 500/- and for this purpose minimum balance of INR 500/-in an account is to be maintained
  • ​Interest earned is Tax Free up to INR 10,000/- per year from financial year 2012-13
  • Nomination facility is available at the time of opening and also after opening of account
  • Account can be transferred from one post office to another
  • One account can be opened in one post office
  • Account can be opened in the name of minor and a minor of 10 years and above age can open and operate the account
  • Joint account can be opened by two or three adults
  • At least one transaction of deposit or withdrawal in three financial years is necessary to keep the account active
  • Single account can be converted into Joint and Vice Versa
  • Minor after attaining majority has to apply for conversion of the account in his name
  • Deposits and withdrawals can be done through any electronic mode in CBS Post offices.
  • ATM facility is available