10,000 earned in a Financial Year is exempted from taxable Income (iv)u/s 80TTA of the Income Tax Act, from all Savings Bank Accounts, interest up to Rs. (iv)At the time of closure of account, interest will be paid up to the preceding month in which account is closed (iii)Interest shall be credited in account at the end of each Financial Year at the interest rate prescribed by Ministry of Finance (ii)No interest will be allowed in a month if balance between 10th and last day of the month falls below Rs. (i)Interest will be calculated on the basis of minimum balance between 10th of the month and end of the month and allowed in whole rupees only 50 will be deducted as Account Maintenance Fee and if account balance became Nil the account shall stands automatically closed (iv) In case account balance not raised to Rs. (iii)No withdrawal will be permitted which effect reducing of minimum balance Rs. 500 (subsequent deposit not less than 10 rupees) (b) Deposit and Withdrawal: - All deposits/ withdrawals shall be in whole rupees only.Minor after attaining majority has to submit fresh account opening form and KYC documents of his/her name at concerned Post Office for conversion of the in his/her name.

Nomination is mandatory at the time of opening of account.Conversion of single to joint account or vice versa is not allowed.In case of death of a Joint holder, the surviving holder will be the sole holder, if surviving holder already has single account in his/her name, Joint account have to be closed.Only one account can be opened in the name of minor/above 10 years of age (self)/person of unsound mind.Only one account can be opened by an individual as a single account.(iv)a minor above 10 years in his own name (iv)a guardian on behalf of person of unsound mind 4.0% per annum on individual / joint accounts Minimum Amount for opening of account and maximum balance that can be retained Post Office Savings Account(SB) Interest payable, Rates, Periodicity etc.

Officetime discount