Savings account can be opened in post office too, money will be completely safe

Post office savings account is also included in the small savings schemes of the post office.

Post office savings account is also included in the small savings schemes of the post office. Let us know about this scheme in detail.

If you are thinking of investing in the coming days, then post office savings schemes (Saving Schemes) can do in. You definitely get good returns in these schemes. Also, the money invested in it is also completely safe. if bank default (Bank Default) If it happens, then you get back only the amount of five lakh rupees. but the post office (Post Office) I am not like that. Apart from this, investment in post office savings schemes can be started with a very small amount. Post Office Savings Account in Small Savings Schemes of Post Office (Savings Account) also includes. Let us know about this scheme in detail.

Rate of interest

At present, the interest rate of 4.0 percent is available on the savings account in the post office.

investment amount

To open a savings account in a post office, it is necessary to invest at least Rs 500.

Who can open account?

A savings account in a post office can be opened by an adult, up to two adults, together with a guardian on behalf of a minor or a person of weak mind. Apart from this, a minor above the age of 10 years can also open an account in the post office in his own name.

read this also



Features

  1. In Post Office Savings Account, a person can open only one account as a single account.
  2. In this, only one account can be opened in the name of a minor or a child above 10 years of age or a person of weak mind.
  3. In case of death of the joint account holder, the surviving account holder shall be the sole holder. If the surviving holder will be the sole holder. If the surviving holder already has a single account in his own name, then the joint account has to be closed.
  4. Conversion from joint account to single and from single to joint is not allowed.
  5. Nomination will be mandatory at the time of account opening.
  6. Apart from this, once the minor account holder attains majority, he will have to submit a new account opening form and KYC documents in his name to the respective post office.
  7. Withdrawal of minimum 50 rupees can be done in this scheme.