• Post Office Savings Account(SB)​​​​

  Post Office Savings Account(SB)

  Interest payable, Rates, Periodicity etc.	Minimum Amount for opening of account and maximum balance that can be retained
  ​4.0% per annum on individual / joint accounts	​Minimum INR 500/- for opening
  ​​Salient features
  (a)Who can open​ :- (i)a single adult (ii)two adults only (Joint A or Joint B) (iii)a guardian on behalf of minor (iv)a guardian on behalf of person of unsound mind ​ (iv)a minor above 10 years in his own name Only one account can be opened by an individual as a single account Only one account can be opened in the name of minor/above 10 years of age (self)/person of unsound mind 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 Conversion of single to joint account or vice versa is not allowed Nomination is mandatory at the time of opening of account 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 (b)Deposit and Withdrawal​: - All deposits/ withdrawals shall be in whole rupees only. (i) Minimum deposit amount: - Rs. 500 (subsequent deposit not less than 10 rupees) (ii) Minimum withdrawal amount: - Rs. 50 (ii)Maximum deposit: - No maximum limit (iii)No withdrawal will be permitted which effect reducing of minimum balance Rs. 500 (iv) In case account balance not raised to Rs. 500 at the end of financial year Rs. 50 will be deducted as Account Maintenance Fee and if account balance became Nil the account shall stands automatically closed (c)Interest:- (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 (ii)No interest will be allowed in a month if balance between 10th and last day of the month falls below Rs. 500 (iii)Interest shall be credited in account at the end of each Financial Year at the interest rate prescribed by Ministry of Finance (iv)At the time of closure of account, interest will be paid up to the preceding month in which account is closed (iv)u/s 80TTA of the Income Tax Act, from all Savings Bank Accounts, interest up to Rs. 10,000 earned in a Financial Year is exempted from taxable Income (d)Silent Account: - (i)If no deposit/withdrawal takes place in an account during continuous three financial years, the account shall be treated as silent/dormant (ii)Revival of such account can be done by submitting application along with fresh KYC documents and passbook at concerned Post Office ​(e)Additional Facilities available on PO Savings Account​ To avail below facilities on your PO Savings Account, kindly download and submit respective form at concerned Post Office (i)Cheque book (ii)ATM Card (iii)ebanking/mobile banking (iv)Aadhaar Seeding (v)Atal Pension Yojana (APY) (vi)Pradhan Mantri Suraksha Bima Yojana (PMSBY) (vii)Pradhan Mantri Jeevan Jeevan Jyoti Bima Yojana (PMJJBY) ​​​​Note :- (i)Post Office Savings Account Rules 2019 ​ (ii)Government Savings Promotion General Rules 2018 ​ Forms available ​​​​​

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• ​ National Savings Recurring Deposit Account(RD)​​

  5-Year Post Office Recurring Deposit Account (RD)

  ​Interest payable, Rates, Periodicity etc.	Minimum Amount for opening of account and maximum balance that can be retained
  From 01.01.2024​, interest rates are as follows:- 6.7​ % per annum (quarterly compounded) ​	Minimum INR 100/- per month or any amount in multiples of INR 10/-. No maximum limit.
  Salient features
  (a)Who can open :- (i) a single adult (ii) Joint Account (up to 3 adults) (Joint A or Joint B) (iii) a guardian on behalf of minor (iv) a guardian on behalf of person of unsound mind (iv) a minor above 10 years in his own name. Note:- Any number of accounts can be opened. (b)Deposits :- (i) Account can be opened by cash/cheque and in case of cheque the date of deposit shall be date of clearance of cheque. (ii) Minimum Amount for monthly deposit is Rs. 100 and above minimum in multiple of Rs. 10. (iii) Subsequent deposit shall be made up to 15th day of month, if account is opened up to 15th of a calendar month. (iv) Subsequent deposit shall be made up to last working day of month, if account is opened between 16th day and last working day of a calendar month. (c)Default :- (i) If subsequent deposit is not made up to the prescribed day for a month, a default is charged for each defaulted month, default @ 1 rupee shall be charged for 100 rupee denomination account (proportionate amount for other denomination) shall be charged. (ii) If in any RD account, there is monthly default, the depositor has to first pay the defaulted monthly deposit with default fee and then pay the current month deposit. (ii) After 4 regular defaults, the account becomes discontinued and can be revived within two months from 4th default but if the account is not revived within this period, no further deposit can be made in such account and account became discontinued. (iii) If there are not more than four defaults in monthly deposits, the account holder may, at his option, extend the maturity period of the account by as many months as the number of defaults and deposit the defaulted installments during the extended period. (d)Advance deposit :- (i) If an RD account is not discontinued can made advance deposit up to 5 years in an account. (ii) Rebate on advance deposit of at least 6 installments (inclusive of month of deposit), for Rs. 100 denomination rebate Rs. 10 for 6 month , Rs. 40 for 12 month (iii) The advance deposit may be made at the time of opening of the account or any time thereafter. (e)Loan :- (i) After 12 installments deposited and account is continued for 1 year not discontinued depositor may avail loan facility up to 50% of the balance credit in the account. (ii) Loan can be repaid in one lump-sum or in equal monthly installments. (iii) Interest on loan will be applicable as 2% + RD interest rate applicable to the RD account. (iv) Interest will be calculated from date of withdrawal to date of repayment. (v) In case loan is not repaid till the maturity, loan plus interest will be deducted from the maturity value of the RD account. Note:- Loan can be taken by submitting loan application form with passbook at concerned Post Office (f)Premature Closure :- (i) RD Account can be closed prematurely after 3 years from the date of account opening by submitting prescribed application form at concerned Post Office. (ii) PO Savings Account interest rate will be applicable if the account is closed prematurely even one day before maturity. (iii) No premature closure of account shall be permissible until the period for which the advance deposits have been made. (g)Maturity :- (i) 5 years (60 monthly deposits) from the date of opening. (ii) Account can be extended for further 5 years by giving application at concerned Post Office. Interest rate applicable during extension will be the interest rate at which account was originally opened. (iii) Extended account can be closed any time during the period of extension. For completed years, RD interest rate will be applicable and for period less than a year, PO Savings Account interest rate will be applicable. (iv) RD account can be retained up to 5 years from the date of maturity without deposit also. (h)Repayment on the death of account holder :- (i) On the death of account holder nominee/claimant can submit claim at concerned Post Office to get the eligible balance of such RD account. (ii) After sanction of claim, Nominee/legal heirs can continue RD account till maturity by submitting application at the concerned Post Office. ​Note:- National Savings Recurring Deposit Account Rules 2019 ​​ ​ Forms available ​

• ​ ​ National Savings Time Deposit Account(TD)

  Post Office Time Deposit Account (TD)

  Interest payable, Rates, Periodicity etc.	Minimum Amount for opening of account and maximum balance that can be retained
  Interest payable annually but calculated quarterly.	Minimum INR 1000/- and in multiple of 100. No maximum limit.

  ​ ​

  Interest rates From 01.01.2024 to 31.03.2024

  ​Period	Rate
  1yr.A/c	6.9%
  2yr.A/c	7.0%
  3yr.A/c	7.1%
  5yr.A/c	7.5 %

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  Salient features

  ​​ (a)Who can open :- (i) a single adult (ii) Joint Account (up to 3 adults) (Joint A or Joint B) (iii) a guardian on behalf of minor (iv)a guardian on behalf of person of unsound mind (v) a minor above 10 years in his own name. Note:- Any number of account can be opened. (b)Deposits :- (i) Account type for 1 year, 2 year, 3 year, 5 year. (ii) Account can be opened with minimum of Rs. 1000 and in multiple of Rs. 100. No maximum limit for investment. (iii) Interest shall be payable annually, No additional interest shall be payable on the amount of interest that has become due for payment but not withdrawn by the account holder. (iv)The annual interest may be credited to the savings account of the account holder by submitting application. (v) The investment under 5 year TD qualifies for the benefit of section 80C of Income Tax Act, 1961. (c)Maturity :- (i) Deposit amount shall be repayable after expiry of 1 year, 2 year, 3 year, 5 year (as the case may be) from the date of opening. (d)Extension of Account :- (i) On maturity depositor may further extend TD account for another tenure for which account was initially opened. (ii) TD account can be extended from date of maturity within the following prescribed period.. 1 year TD = within 6 months of maturity. 2 year TD = within 12 months of maturity. 3/5 year TD = within 18 months of maturity. (iii) At the time of opening of account depositor can submit request for extension of account from the date of maturity. (iv)TD account can be extended after maturity by submitting prescribed application form at concerned Post Office along with passbook. (v) Interest rate applicable to respective TD account on the day of maturity shall be applicable to the extended period. (e)Premature closure of Account :- (i)No deposit shall be withdrawn before the expiry of six months from the date of deposit. (ii) If TD account closed after 6 month but before 1 year, PO Savings Account Interest rate will be applicable. (iii) If 2/3/5 year TD account prematurely closed after 1 year, interest shall be calculated 2 % less than of TD interest rate (i.e. 1/2/3 years) for completed years, and for part period less than a year, PO Savings Interest rates will be applicable. (iv)TD account can be closed prematurely by submitting prescribed application form with pass book at concerned Post Office. (f)Pledging of TD account :- (i) A TD account may be pledged or transferred as security, by submitting prescribed application form at concerned Post Office supported with acceptance letter from the pledgee. (ii) Transfer/pledging can be made to the following authorities. The President of India/Governor of the State. RBI/Scheduled Bank/Co-operative Society/Co-operative Bank. Corporation (public/private)/Govt. Company/Local Authority. Housing finance company. ​​Note:- National Savings Time Deposit Rules 2019 ​ ​ Forms available ​

• ​ National Savings Monthly Income ​Account(MIS)

  Post Office Monthly Income Scheme Account (MIS)

  ​Interest payable, Rates, Periodicity etc.	Minimum Amount for opening of account and maximum balance that can be retained
  From 01.01​.2024​, interest rates are as follows:- 7​.4​ % per annum payable monthly.	In multiples of INR 1000/- Maximum investment limit is INR 9 lakh in single account and INR 15 lakh in joint account An individual can invest maximum INR 9 lakh in MIS (including his share in joint accounts) For calculation of share of an individual in joint account, each joint holder have equal share in each joint account. ​
  Salient features
  (a)Who can open:- (i) a single adult (ii) Joint Account (up to 3 adults) (Joint A or Joint B)) (iii) a guardian on behalf of minor/ person of unsound mind (iv) a minor above 10 years in his own name. (b)Deposit:- (i) Account can be opened with minimum of Rs. 1000 and in multiple of Rs. 1000. (ii) A maximum of Rs. 9 lakh can be deposited in a single account and 15 lakh in Joint account. (iii) In a joint account, all the joint holders shall have equal share in investment. (iv) Deposits/shares in all MIS accounts opened by an individual shall not exceed Rs. 9 lakh. (iv) Limit for account opened on behalf of a minor as guardian shall be separate. (c)Interest:- (i) Interest shall be payable on completion of a month from the date of opening and so on till maturity. (ii) If the interest payable every month is not claimed by the account holder such interest shall not earn any additional interest. (iii) In case any excess deposit made by the depositor, the excess deposit will be refunded back and only PO Savings Account interest will be applicable from the date of opening of account to the date of refund. (iv) Interest can be drawn through auto credit into savings account standing at same post office, or ECS. In case of MIS account at CBS Post offices, monthly interest can be credited into savings account standing at any CBS Post Offices. (v) Interest is taxable in the hand of depositor. (d)Pre-mature closure of account:- (i) No deposit shall be withdrawn before the expiry of 1 year from the date of deposit. (ii) If account is closed after 1 year and before 3 year from the date of account opening, a deduction equal to 2% from the principal will be deducted and remaining amount will be paid. (iii) If account closed after 3 year and before 5 year from the date of account opening, a deduction equal to 1% from the principal will be deducted and remaining amount will be paid. (iv) Account can be prematurely closed by submitting prescribed application form with pass book at concerned Post Office. ​ (e)Maturity:- (i) Account may be closed on expiry of 5 years from the date of opening by submitting prescribed application form with pass book at concerned Post Office. (ii) In case the account holder dies before the maturity, the account may be closed and amount will be refunded to nominee/legal heirs. Interest will be paid up to the preceding month, in which refund is made. Note:- National Savings (MIS) Account Rules 2019 Forms available ​ ​

• ​ Senior Citizens Savings Scheme Account(SCSS)​

  Senior Citizen Savings Scheme (SCSS)

  Interest payable, Rates, Periodicity etc.	Minimum Amount for opening of account and maximum balance that can be retained
  From 01.01.2024​ , interest rates are as follows:- 8.2% per annum, payable from the date of deposit to 31st March/30th Sept/31st December in the first instance & thereafter, interest shall be payable on 1st April, 1st July, 1st October and 1st January.	There shall be only one deposit in the account in multiple of INR.1000/- maximum not exceeding INR 30 lakh.
  ​Salient features
  (a)Who can open:- (i) An individual above 60 years of age. (ii) Retired Civilian Employees above 55 years of age and below 60 years of age, subject to condition that investment to be made within 1 month of receipt of retirement benefits. (iii) Retired Defense Employees above 50 years of age and below 60 years of age, subject to condition that investment to be made within 1 month of receipt of retirement benefits. (iv) Account can be opened as individual capacity or jointly with spouse only. (v) The whole amount of deposit in a joint account shall be attributable to the first account holder only. (b)Deposit:- (i) Minimum deposit shall be Rs. 1000 and in multiple of 1000, subject to maximum limit up to Rs. 30 lakh in all SCSS accounts opened by an individual. (ii) In case any excess deposit made in SCSS account, excess amount will be refunded immediately to the depositor and only PO Savings Account Interest rate will be applicable from the date of excess deposit to the date of refund. (iii) Investment under this scheme qualifies for the benefit of section 80C of Income Tax Act, 1961. (c)Interest:- (i) Interest shall be payable on quarterly basis and applicable from the date of deposit to 31st March/30th June/30th September/31st December. (ii) If the interest payable every quarter is not claimed by an account holder, such interest shall not earn additional interest. (iii) Interest can be drawn through auto credit into savings account standing at same post office, or ECS. In case of SCSS account at CBS Post offices, monthly interest can be credited into savings account standing at any CBS Post Offices. (iv) Interest is taxable if total interest in all SCSS accounts exceeds Rs.50,000/- in a financial year and TDS at the prescribed rate shall be deducted from the total interest paid. No TDS will be deducted if form 15 G/15H is submitted and accrued interest is not above prescribed limit. (d)Premature Closure:- (i) Account can be prematurely closed any time after date of opening. (ii) If account closed before 1 year, no interest will be payable and if any interest paid in account shall be recovered from principle. (iii) If account closed after 1 year but before 2 year from the date of opening, an amount equal to 1.5 % will be deducted from principal amount. (iv) If account closed after 2 year but before 5 year from the date of opening, an amount equal to 1 % will be deducted from principal amount. (v) Extended account can be closed after the expiry of one year from the date of extension of the account without any deduction. (e)Account closure on maturity:- (i) Account may be closed after 5 year from the date of opening by submitting prescribed application form with passbook at concerned Post Office. (ii) In case of death of account holder, from the date of death, account shall earn interest at the rate of PO Savings Account. (iii) In case spouse is a joint holder or a sole nominee, account can be continued till maturity if spouse is eligible to open SCSS account and not have another SCSS Account. (f)Extension of Account:- (i) Account holder may extend the account for further period for 3 years from the date of maturity by submitting prescribed form with passbook at concerned post office. (ii) Account can be extended within 1 year of maturity. (iii) Extended account shall earn interest at the rate applicable on the date of maturity. Note:- Senior Citizen Savings Scheme Rules 2019 Forms available ​​​

• ​​Public Provident Fund Account(PPF )​

  15 year Public Provident Fund Account (PPF )

  Interest payable, Rates, Periodicity etc.	Minimum Amount for opening of account and maximum balance that can be retained
  From 01.01.2024​, interest rates are as follows:- 7.1 % per annum (compounded yearly). ​	Minimum INR. 500/- Maximum INR. 1,50,000/- in a financial year. Deposits can be made in lump-sum or in ​installments.
  ​Salient features​
  (a)Who can open:- (i) a single adult by a resident Indian. (ii) a guardian on behalf of minor/ person of unsound mind . ​ Note:- Only one account can be opened all across the country either in Post Office or any Bank. (b) Deposit:- (i) Minimum deposit Rs. 500 in a Financial Year and Maximum deposit is Rs. 1.50 lakh in a FY (ii) Maximum limit of Rs. 1.50 lakh shall be inclusive of the deposits made in his/her own account and in the account opened on behalf of minor. (iii) Amount can be deposited in any number of installments in a FY in multiple of Rs. 50 and maximum up to Rs. 1.50 lakh. (iv) Account can be opened by cash/cheque and in case of cheque the date of realization of cheque in Govt. account shall be date of opening of account/subsequent deposit in account. (v) Deposits qualify for deduction under section 80C of Income Tax Act. (c) Discontinuation of account:- (i) If in any financial year, minimum deposit of Rs.500/- is not made, the said PPF account shall become discontinued. (ii) Loan/withdrawal facility is not available on discontinued accounts. (iii) Discontinued account can be revived by the depositor before maturity of the account by deposit minimum subscription (i.e. Rs. 500) + Rs. 50 s default fee for each defaulted year. (iv) The total deposit in a year, shall be inclusive of deposits made in respect of years of default of previous financial years. (d) Interest:- (i) Interest shall be applicable as notified by Ministry of Finance on quarterly basis. (ii) The interest shall be calculated for the calendar month on the lowest balance in the account between the close of the fifth day and the end of the month. (iii) Interest shall be credited to the account at the end of each Financial year. (iv) Interest shall be credited to the account at the end of each FY where account stands at the end of FY. (i.e. in case of transfer of account from Bank to PO or vice versa) (v) Interest earned is tax free under Income Tax Act. (e) Loan:- (i) Loan can be taken after the expiry of one year from the end of the FY in which the initial subscription was made.(i.e. A/c open during 2010-11, loan can be taken in 2012-13). (ii) Loan can be taken before expiry of five years from the end of the year in which the initial subscription was made. (iii) Loan can be taken up to 25% of balance to his credit at the end of the second year immediately preceding the year in which loan is applied. (i.e. if loan taken during 2012-13, 25% of balance credit on 31.03.2011) (iv) Only one loan can be taken in a Financial Year. (v) Second loan shall not be provided till first loan was not repaid. (vi) If loan repaid within 36 month of the loan taken, loan interest rate @ 1% per annum shall be applicable. (vii) If loan repaid after 36 month of the loan taken loan interest rate @ 6% per annum shall be applicable from the date of loan disbursement. (f) Withdrawal:- ​ (i) A subscriber can take 1 withdrawal during a financial after five years excluding year of account opening. (if account open during 2010-11 the withdrawal can be taken during or after 2016-17) (ii) Amount of withdrawal can be taken up to 50% of balance at the credit at the end of 4th preceding year or at the end of preceding year, whichever is lower. (i.e. withdrawal can be taken in 2016-17, up to 50% of balance as on 31.03.2013 or 31.03.2016 whichever is lower). (g) Maturity:- (i) Account will be maturity after 15 F.Y. years excluding FY of account opening. (ii) On maturity depositor has the following options:- (a) Can take maturity payment by submitting account closure form along with passbook at concerned Post Office (b) Can retain maturity value in his/her account further without deposit, the PPF interest rate will be applicable and payment can be taken any time or can take 1 withdrawal in each FY. (c) Can extend his/her account for further block of 5 years and so on (within one years of maturity) by submitting prescribed extension form at concerned Post Office. (Discontinued account cannot be extended). (d) In extended account with deposits, 1 withdrawal can be taken in each FY subject to maximum limit 60% of balance credit at the time of maturity in the block of 5 years. (h) Premature closure:- (i) Premature closure shall be allowed after 5 years from the end of the year in which the account was opened subject to following conditions. -> In case of life threatening disease of account holder, spouse or dependent children. -> In case of higher education of account holder or dependent children. -> In case of change of resident status of account holder ( i.e. became NRI). ​(ii) At the time of premature closure 1% interest shall be deducted from the date of account opening/date of extension as the case may be. (iii) Account can be closed on above conditions by submitting prescribed form along with pass book at concerned Post Office. (i) Death of account holder:- (i) In case of death of account holder, the account shall be closed and nominee or legal heir(s) shall not be allowed to continue deposits in the account. (ii) At the time of closure due to death PPF rate of interest shall be paid till the end of the preceding month in which account is closed. Note: - Public Provident Fund Rules 2019 Forms available ​ ​

• ​Sukanya Samriddhi Account(SSA)​

  Sukanya Samriddhi Accounts

  ​Interest payable, Rates, Periodicity etc.	Minimum Amount for opening of account and maximum balance that can be retained
  Rate of interest 8.2​​​% Per Annum(with effect from 01-01-2024 ),calculated on yearly basis ,Yearly compounded.	Minimum INR. 25​0/-and Maximum INR. 1,50,000/- in a financial year. Subsequent deposit in multiple of INR 50/- Deposits can be made in lump-sum No limit on number of deposits either in a month or in a Financial year
  ​Salient features
  (a) Who can open account:- -> By the guardian in the name of girl child below the age of 10 years. -> Only one account can be opened in India either in Post Office or in any bank in the name of a girl child. -> This account can be opened for maximum of two girls in a family. Provided in case of twins/triplets girls birth more than two accounts can be opened. ​(b) Deposits:- (i) Account can be opened with minimum initial deposit Rs. 250. (ii) Minimum deposit in a FY is Rs. 250 and maximum deposit can be made up to Rs. 1.50 lakh (in multiple of Rs.50) in a FY in lumpsum or in multiple installments. (iii) Deposit can be made maximum up to completion of 15 years from the date of opening. (iv) If minimum deposit Rs. 250 is not deposited in a account in a FY , the account shall be treated at defaulted account. (v) Defaulted account can be revived before completion of 15 years from the date of opening of account by paying minimum Rs. 250 + Rs. 50 default for each defaulted year. (vi) Deposits qualify for deduction under section 80C of Income Tax Act. (c) Interest:- (i) The account will earn on the prescribed rate notified by Ministry of Finance on quarterly basis. (ii) The interest shall be calculated for the calendar month on the lowest balance in the account between the close of the fifth day and the end of the month. (iii) Interest shall be credited to the account at the end of each Financial year. (iii) Interest shall be credited to the account at the end of each FY where account stands at the end of FY. (i.e. in case of transfer of account from Bank to PO or vice versa) (iv) Interest earned is tax free under Income Tax Act. (d) Operation of Account:- -> Account will be operated by the guardian till the girl child attains the age of majority (i.e. 18 years). ​(e) Withdrawal:- (i) Withdrawal may be taken from account after girl child attains age of 18 or passed 10th standard. (ii) withdrawal may be taken up to 50% of balance available at the end of preceding F.Y. (iii) withdrawal may be made in one lump sum or in installments, not exceeding one per year, for a maximum of five years, subject to the ceiling specified and subject to actual requirement of fee/other charges. (f) Premature closure:- (i) Account may be prematurely closed after 5 years of account opening on the following conditions : - -> On the death of account holder. (from date of death to date of payment PO Savings Account interest rate will be applicable). -> On extreme compassionate grounds (i) Life threatening decease of a/c holder. (ii) Death of the guardian by whom account operated. (iii) Complete documentation and application required for such closure. (vi) For premature closure of account submit prescribed application form along with pass book at concerned Post Office. ​(g) Closure on maturity:- (i) After 21 years from the date of account opening. (ii) Or at the time of marriage of girl child after attaining age of 18years.(but no closure is allowed before 1 month or after 3 months from the date of marraige). Note:- Sukanya Samriddhi Account Rules 2019 Forms available ​​​​​​

• ​National Savings Certificates (VIIIth Issue) (NSC)

  National Savings Certificates (NSC)

  Scheme	Interest payable, Rates, Periodicity etc.	Minimum Amount for opening of account and maximum balance that can be retained
  National Savings Certificates (NSC) 5 Years National Savings Certificate (VIII Issue)	From 01.01.2024​, interest rates are as follows:- 7.7 % compounded annually but payable at maturity.	Minimum of Rs. 1000/- and in multiples of Rs. 100/- No Maximum Limit
  ​​Salient features
  ​​ (a) Who can open :- (i) a single adult (ii) Joint Account (up to 3 adults) (iii) a guardian on behalf of minor or on behalf of person of unsound mind (iv) a minor above 10 years in his own name. (b) Deposit:- (i) Minimum Rs. 1000 and in multiple of Rs. 100 , no maximum limit. (ii) Any number of accounts can be opened under the scheme. (iii) Deposits qualify for deduction under section 80C of Income Tax Act. (c) Maturity:- -> The deposit shall mature on completion of five years from the date of the deposit. (d) Pledging of account:- (i) NSC may be pledged or transferred as security, by submitting prescribed application form at concerned Post Office supported with acceptance letter from the pledgee. (ii) Transfer/pledging can be made to the following authorities. -> The President of India/Governor of the State. -> RBI/Scheduled Bank/Co-operative Society/Co-operative Bank. -> Corporation (public/private)/Govt. Company/Local Authority. -> Housing finance company. (e) Premature closure:- -> NSC may not be prematurely closed before 5 years except the following conditions : - ​(i) On the death of a single account, or any or all the account holders in a joint account (ii) On forfeiture by a pledgee being a Gazetted officer. (iii) On order by court. (f) Transfer of account from one person to another person.:- -> NSC may be transferred from one person to another person on the following conditions only. ​(i) On the death of account holder to nominee/legal heirs. (ii) On the death of account holder to joint holder(s). (ii) On order by the court. (iii) On pledging of account to the specified authority. Note:- ​ ​​National Savings Certificate VIII Issue Rules 2019 ​​ Forms available ​​​​

• ​ Kisan Vikas Patra(KVP)

  Kisan Vikas Patra (KVP )

  Interest payable, Rates, Periodicity etc.	Minimum Amount for opening of account and maximum balance that can be retained
  From 01.01.2024​, interest rates are as follows:- 7.5 % compounded annually Amount Invested doubles in 115 months (9 years & 7 months) ​	Minimum of Rs. 1000/- and in multiples of Rs. 100/- No Maximum Limit.
  Salient features
  (a) Who can open (i) a single adult (ii) Joint Account (up to 3 adults) (iii) a guardian on behalf of minor or on behalf of person of unsound mind (iv) a minor above 10 years in his own name. (b) Deposit (i) Minimum Rs. 1000 and in multiple of Rs. 100 , no maximum limit. (ii) Any number of accounts can be opened under the scheme. (c) Maturity -> The deposit shall mature on the maturity period prescribed by the Ministry of Finance from time to time as applicable on the date of deposit. (d) Pledging of account (i) KVP may be pledged or transferred as security, by submitting prescribed application form at concerned Post Office supported with acceptance letter from the pledgee. (ii) Transfer/pledging can be made to the following authorities. -> The President of India/Governor of the State. -> RBI/Scheduled Bank/Co-operative Society/Co-operative Bank. -> Corporation (public/private)/Govt. Company/Local Authority. -> Housing finance company. (e) Premature closure -> KVP may be prematurely closed any time before maturity subject to the following conditions : - (i) On the death of a single account, or any or all the account holders in a joint account (ii) On forfeiture by a pledgee being a Gazette officer. (iii) When order by court. (iv) After 2 years and 6 months from the date of deposit. (f) Transfer of account from one person to another person. -> KVP may be transferred from one person to another person on the following conditions only. (i) On the death of account holder to nominee/legal heirs. (ii) On the death of account holder to joint holder(s). (ii) On order by the court. (iii) On pledging of account to the specified authority. Note:- ​ Kisan Vikas Patra Rules 2019 ​​ Forms available ​​

• ​ Mahila Samman Savings Certificate

  Mahila Samman Savings Certificate, 2023

  Salient features

  (a) Who can open:- (i) By a woman for herself. (ii) By the guardian on behalf of a minor girl. (b) Deposit (i) Minimum of rupees one thousand and in multiple of rupees one hundred. (ii) Maximum limit of rupees two lakh in an account or all account hold by an account holder. (iii) A time gap of three months shall be maintained between the existing account and the opening of other account. (c) Interest (i) Deposit shall eligible for 7.5 per cent interest per annum. (ii) Interest will be compounded quarterly and credited in account and paid at the time of closure of account. (iii) Account opened or deposit made in-contravention of rules will be eligible for interest @ PO Savings Account. (c) Withdrawal 40% withdrawal of eligible balance can be taken after one year from the date of account opening. (d) Pre-mature closure (i) On the death of the account holder (ii) On extreme compassionate ground (i) Life threatening decease of account holder (ii) death of the guardian on production of relevant documents. Note:-Scheme interest will be paid on principal amount. (iii) After six months of account opening without mentioning any reason. Note:-Scheme interest less by 2 per cent will be paid e.g. 5.5%. (e) Maturity (i) After two years from the date opening eligible balance will be paid to the depositor. (f) How to open account (i) Submit Account Opening Form, KYC Document (Aadhaar and PAN card) , KYC form for new account holder, Pay-in-Slip alongwith deposit amount/cheque at nearest post office. Note:- ​ Mahila Samman Savings Scheme, 2023 Forms available ​

• ​ PM CARES for Children Scheme, 2021

  PM CARES for Children Scheme, 2021

  Salient features

  1. Scheme :- PM CARES for Children Scheme, 2021. 2. Date of event :- between the period 11.03.2020 to 31.12.2021 (extended till 28.02.2022 by MWCD) during which the children who had not attained the age of eighteen years, lost both parents or last surviving parent or both adopted parents or sole legal guardian to COVID-19 pandemic. 3. General Rules applicable :- Government Savings Promotion General Rules, 2018. 4. Joint Account Holder means concerned District Magistrate, who shall act as the guardian for the purpose of operation of the account under the scheme. 5. Scheme guidelines :- issued by the Ministry of Women and Child Development on PM CARES for Children Scheme, 2021. 6. Opening of Account :- Account will be opened in the name of a beneficiary with concerned District Magistrate as joint account holder for an eligible beneficiary who has not attained the age of 18 years on the date of event. Provided that a single account may be opened for a beneficiary who has turned 18 years or more on the date of opening of the account 7. Deposit :- The upfront lump-sum contribution shall be made in the account. For the purposes of computation of lump-sum contribution from PM CARES Fund, age of eligible beneficiary shall be the number of completed years on the upcoming date of birth on the date of opening of account. 8. On attaining age of 18 years of beneficiary the said upfront lump-sum will become ₹ 10 lakh and the account converted in a single account of the beneficiary. 9. The beneficiary will earn interest applicable to Monthly Income Account Scheme on ₹ 10 lakh and beneficiary would get monthly stipend in her/his savings account till she/he attains 23 years of age. 10. The beneficiary would receive a sum of ₹ 10 lakh on attaining 23 years of age. Note:- ​ Notification​ ​

• ​​​​ Interest r​ates (New)​

  The interest rates applicable on various National (Small) Savings Schemes are as under.

  Interest rates (New)

  Sl.No.	​Instruments	Rate of interest w.e.f 01.10.2024 to 31.12​​.2024​	Compounding Frequency*
  01.	Post Office Savings Account​​	4.0	Annually
  02.	1 Year Time Deposit	6.9 (Annual Interest ₹708 for ₹10,000/-)	Quarterly
  03.	2 Year Time Deposit​​	7.0 (Annual Interest ₹719 for ₹10,000/-)	Quarterly
  04.	3 Year Time Deposit​​	7.1 (Annual Interest ₹72​9 for ₹10,000/-)	Quarterly
  05.	5 Year Time Deposit	7.5 (Annual Interest ₹771 for ₹10,000/-)	Quarterly
  06.	5 Year Recurring Deposit Scheme​​	6.7	Quarterly
  07.	Senior Citizen Savings Scheme​​	8.2 (Quarterly Interest ₹205 for ₹10,000/-)	Quarterly and Paid
  08.	Monthly Income Account​​	7.4 (Monthly Interest ₹62 for ₹10,000/-)	Monthly and paid
  09.	National Savings Certificate (VIII Issue)	7.7 (Maturity Value ₹14,490 for ₹10,000/-)	Annually
  10.	Public Provident Fund Scheme​​	7.1	Annually
  11.	Kisan Vikas Patra​​	7.5 (will mature in 115 months)	Annually
  12.	Mahila Samman Savings Certificate​​	7.5 (Maturity Value ₹11,602 for ₹10,000/-)	Quarterly
  13.	Sukanya Samriddhi Account Scheme​​	8.2​	Annually

• ​ How to avail services

  How to avail services

  (a) How to open account ​ (i) Submit the following forms/documents duly signed and filled at desired Post Office. Account Opening Form KYC Form (For new customer/modification in KYC details)) PAN Card Aadhaar card, if aadhar is not made available the following document may be submitted. 1. Passport 2.Driving license 3. Voter’s ID card 4. Job card issued by MNREGA signed by the State Government officer 5. Letter issued by the National Population Register containing details of name and address. Proof of date of birth/birth certificate in case of minor account. (Birth certificate is mandatory in Sukanya Samriddhi Account). For Joint Account, KYC documents for all joint holders to be submitted. For minor account, KYC detail of guardian to be submitted . (ii) Conversion of Joint account to single account or vice versa is not allowed. (iii) After attaining majority, minor has to submit fresh account opening form sand KYC document at concerned Post Office for conversion of the in his/her name. (iv) For investment above Rs. 10 lakh as per Prevention of Money Laundering Act-2002 proof of source of fund is to be submitted. (v) For Sr. Citizens VRS account the proof of receipt of retirement benefits is to be submitted. (vi) NRI, Trust, Firm, Institutions/post/company etc are not eligible for opening of account under any National (Small) Savings Scheme. (vii) At present account can be opened in PPF/SCSS/MIS/KVP/NSC in branch Post offices through Cheque only. (b) ebanking/mobile banking. (i) ebanking/mobile banking facility can be availed on PO Savings Account by submitting prescribed form duly signed at concerned Post Office. (ii) after enabling these facilities by concerned Post Office, the account holder will get activation code within 48 hours of account opening to proceed further in “New User Activation” option at https://www.ebanking.indiapost.gov.in (iii) The following facilities are available in ebanking. Opening of Recurring Deposit/ Time Deposit account. Deposit in RD/PPF/SSA/SB Accounts standing in CBS Post Offices. Taking RD Loan/ PPF Withdrawal Repayment of RD Loan/PPF Loan. View/Print of transaction details of all Small Savings Schemes linked account of the customer. Stop cheque request. Mini statement. (c) Nomination (i) Nomination is mandatory at the time of account opening and can be made for up to 4 individuals. (ii) Change in nomination may be made by submitting prescribed application form at concerned Post Office along with prescribed fee. (i.e. Rs. 50+GST) . (d) Transfer of Accounts (i) Account can be transferred from any CBS Post Office to another CBS Post Office. (ii) PPF/SSA/SCSS account can be transferred from Bank to Post Office or vice versa. (iii) For transfer of account, submit prescribed application form along with pass book and prescribed fee (Rs. 100+GST) at concerned Post Office. (e) Maturity Payment (i) Maturity value can be paid by the following modes:- (a) Below 20000 - by Cash. (b) Rs.20,000/- or above, By Account Payee Cheque or Transfer to PO Savings Account (ii) To get maturity payment, submit account closure form along with pass book at concerned Post Office ​(f) Death Claim​ (i) In the event of death of the depositor, the payment can be made on the basis of following. (i.i) Nomination :- Following documents to be submitted at concerned Post Office by the nominee(s). Claim Form Death certificate of account holder(s). Passbook/certificate. Id and address proof of the nominee. ID and address proof of two witnesses. (i.ii)Legal evidence, (Probate of will, Letter of Administration, Succession Certificate) Claim Form Original/certified copy of legal evidence. Death certificate of account holder(s). Passbook/certificate. Id and address proof of the claimant(s). ID and address proof of two witnesses. (i.iii) Without nomination or legal evidence up to Rs. 5 lakh. ​ ​ Claim Form Death certificate of account holder(s). Passbook/certificate. Affidavit (Form-13) Letter of disclaimer (Form-14) Letter of indemnity (Form-15) Id and address proof of the claimant(s). Self attested copy of ID and address proof of two witnesses. ​

• ​​​Schedule of Fee​

  Schedule of Fee

  ​ Issue of duplicate pass book - Rs. 50. Issue of statement of account or deposit receipt-Rs. 20 in each case. ​Issue of pass book in lieu of lost or mutilated certificate –Rs. 10 per registration. Cancellation or change of nomination –Rs. 50 Transfer of account – Rs. 100 Pledging of account – Rs. 100 Issue of cheque book in Savings Bank Account – No fee for upto10 leafs in a calendar year and thereafter at Rs. 2 per cheque leaf. Charges on dishonour of cheque-Rs. 100 T​ax as applicable on the above service charges shall also be payable​ ​​

Last Updated : 13-05-2024​

1. How can I claim payment of deceased account / certificate holder?

   The claim can be settled by three modes

   Nomination :-Submit nomination claim form with Death Certificate with KYC documents

   1. Legal evidence (Probate of will, Letter of administration, Succession certificate) :- Submit Claim Form, Legal evidence and Death certificate with KYC documents.
   2. Without nomination ( up to 5 Lakh ) :- Submit claim form, death certificate, Annexure-I (Letter of Indemnity) , Annexure-II(Affidavit)  and Annexure III (Letter of disclaimer of affidavit)  with KYC documents of   claimant,deponents,  witnesses, sureties etc.
      
      

      Note:-

      1. If there is no nomination and deposit value at the date of death is above Rs. 5 Lakh , claim can be settled only through Succession Certificate.
      2.  Claim in case of without nomination (up to 5 lakh) can be settled after 6 month of death of the depositor.​

2. ​How to transfer accounts and certificate?

   For transfer of accounts/certificate- the depositor should apply in the prescribed form SB 10(B)/NC-32 with Passbook and KYC documents. The transfer application can be given either in transferring office or transferee office. However the transfer process will be done by respective Head Post Offices.
   

3. How to open an account in post office and its requirements?

   To open an account in Small Savings Schemes viz Savings Account (SB), Recurring Deposit (RD), Time Deposit (TD), Monthly Income Scheme (MIS), Senior Citizen Savings Scheme (SCSS)submit Account Opening Form (AOF) duly filled in with KYC documents and deposit slip(SB 103) in desired Post Office.

4. What is silent account and how to revive it?

   An account in which a deposit or withdrawal has not taken place for three complete Financial Years, shall be treated as silent account.

   For revival, one application from  the customer with KYC documents is required. Respective HO will revive the accounts.​

5. ​

   What are late payment fees for recurring deposits?

   The monthly deposits for account opened between 1 to 15 should be credited  up to 15^th of the month and account opened between 16 to the last of the month monthly deposit should be credited by last day of the month. If the monthly installment is not credited for any particular month, then it becomes a default. The defaulted months can be credited subsequently (revival fee for INR. 100/- denomination is Re. 1  for each month of default) maximum 4 defaults are allowed.

6. What is the procedure for the issue of duplicate certificates?

   The investor should apply in the prescribed form for duplicate certificate in respect of lost, stolen, destroyed, mutilated or defaced certificates (NC-29).
   The application shall be accompanied by a statement showing particulars of certificates and furnish an indemnity bond in the prescribed form with one or more sureties or with a bank guarantee.

   In case of mutilated or defaced certificates, no indemnity bond is required. The duplicate certificate will be issued in the form of Passbook from respective HO.

7. How I get duplicate passbook?

   Application in the prescribed form or manuscript application may be given. A prescribed fee for issue of duplicate passbook to be paid.  New duplicated Passbook will be issued by respective Head Post Offices.

8. What are the norms for issuing a Cheque Books?

   Cheque books are issued in respect of Post Office Savings Account.  Minimum balance to be maintained in respective Post Office Savings Account should be Rs. 500.​

9. What are the service charges for outstations Cheque?

   Cheque realization charges for outstation Cheque.
   INR. 30/- for first thousand or part
   INR. 3/- for each additional thousand or part
   In case of bouncing of Cheque INR. 50/- is charges as service charge.

10. Can Monthly Income Scheme (MIS) interest be credited to RecurringDeposit (RD) account?

    No. There is no provision. MISInterest amount can be credited to SB account and Standing  Instruction can be given for credit into RD from SB. A prescribed application form to be submitted to respective Post Office.

11. What is the minimum balance required for an account?

    Minimum balance in respect of different types of Small Savings Accounts is given below.

    Post Office Savings Account	INR. 500/-
    National Savings Recurring Deposit Account	INR. 100/-
    Monthly Income Scheme	INR. 1000/-
    Time Deposit Account	INR. 1000/-
    Public  Provident Fund	INR. 5​00/-
    Sukanya Samriddhi Account	INR. 250/-
    Senior Citizen Savings Scheme​	INR. 1000/-
    ​National Savings Certificate (VIIIth Issue)	​INR. 1000/-
    ​Kisan Vikas Patra​	​INR. 1000/-​

12. How I can get encashment of certificates / account before maturity?

    Premature encashment conditions for Small Savings Schemes as below.

    POSA   ​	Can be closed at any time
    RD	Can be closed after 3 years, only SB rate of interest is permissible.
    TD	Can be closed after 6 months*
    MIS	Can be closed after 1 year*.
    PPF	After 5 years only in case of Severe Illness, Higher Education and NRI status.
    ​SSA	​On the occasion of marriage of girl child after age 18.​
    ​SCSS	​Can be closed at any time*.
    ​NSC (VIII Issue)	​Premature encashment is not permitted (except in case of death and forfeiture).​
    ​KVP​	​After 2 years 6 months​

    ​* Preclosure fee at prescribed rates are applicable

13. ​Are there any charges​ for the use of ATM Card ?

    ​ Charges in respect of different types of ATM transactions are given below.​

    Daily ATM cash withdrawal limit	INR. 25000/-
    Cash withdrawal limit per transaction	INR. 10000/-
    Charges for transactions done at DOP ATMs	Nil.
    Free transactions at other bank ATMs (Per month)	Metro Cities - 3 free transactions (Both Financial & Non Financial)  Non Metro Cities - 5 free transactions (Both Financial & Non Financial)
    Charges after free transactions at other bank ATMs	INR.​ 20/-  + GST per transaction (For financial &non financial transactions)

    
    

​Charges for ATM transactions on ATM outlets of lndia Post as well as other banks

Transaction Type	Charges (Rs.)	Date of implementation
Debit Card Replacement Charges	Rs.300/- + GST	01.10.2021
Duplicate PIN/Regeneration of PIN through Branch	Rs.50/- + GST	01.10.2021
ATM/POS transaction Technical declines attributable to customer (i.e. lack of balance in account)	Rs.20/- + GST	01.10.2021
AT PoS - Cash withdrawals for DoP Debit cards (On- Us transactions)	1% of the transaction value subject to a maximum of Rs.5/- per transaction	01.10.2021
Charges for Withdrawal at ATM	Financial Transactions at other ATMs - Beyond 3 free transactions- (ln Metro Cities) and 5 free transactions in Non-Metro Cities Rs.20/- + GST	01.10.2021
	Financial Transactions at own ATMs-Beyond 5 free transactions- Rs.10/- + GST	01.10.2021
	Non-Financial Transactions at other ATMs - Beyond 3 free transactions- (ln Metro Cities) and 5 free transactions in Non-Metro Cities - Rs.8/- + GST	01.10.2021
	Non-Financial Transactions at own ATMs - Beyond 5 free transactions Rs.5/- + GST	01.10.2021
ATM/Debit Card Annual Maintenance Charges	Rs.125/- + GST	Charges are applicable on Cycle of 01.10.2021 to 30.09.2022 and Subsequent cycles.charges to be collected at the end of the cycle i.e. on 30.09.2022
SMS Alert charges per annum from Debit card Holders	Rs.12/- (incl GST)	Charges are applicable on Cycle of 01.10.2021 to 30.09.2022 and Subsequent cycles.charges to be collected at the end of the cycle i.e. on 30.09.2022

14. In which savings accounts ATMs card/Net banking can not be issue ? 
    1. Minor/Person of unsound mind​  Account
    2. Joint A Account
    ​

15. Whether Netbanking /Mobile Banking facilities available in Post Office Savings Accounts ?

    Intra Operable Netbanking/Mobile Banking facilities is available for Post Office Savings Accounts customers of CBS Post Offices. This will work within POSB ie DoP network.
    

16. How can I activate Intra Operable netbanking /mobile banking ?

    Post Office Saving Account customer to submit duly filled request form in respective Post Office, After enabling desired service in customers Savings Accounts by Post Office, customer will get activation code on his/her mobile within 48 hours to proceed further.​
    

17. What facilities is available in Intra Operable Netbanking ?

    1. ​View transaction of all linked accounts.
    2. View/Print statement .
    3. Fund transfer between Post Office Savings Accounts.
    4. Deposit in linked RD Accounts.
    5. Deposit in linked SSA Account.
    6. Deposit in linked PPF account.
    7. Opening of TD account.
    8. Opening of RD account.
    9. Cheque Stop payment request.

Unclaimed accounts identified as per Senior Citizen Welfare Fund Rules 2016

• ​Savings Bank​​
  • ​ Andhra Pradesh
  • ​ Assam
  • ​ Bihar-1
  • ​ Bihar-2
  • ​ Bihar-3
  • ​ Bihar-4
  • ​ Chhattisgarh
  • ​ Delhi-1
  • ​ Delhi-2
  • ​ Gujarat-1
  • ​ Gujarat-2
  • ​ Haryana
  • ​ Himachal Pradesh
  • ​ Jammu Kashmir
  • ​ Jharkhand
  • ​ Karnataka-1
  • ​ Karnataka-2
  • ​ Karnataka-3
  • ​ Karnataka-4
  • ​ Karnataka-5
  • ​ Karnataka-6
  • ​ Karnataka-7
  • ​ Kerala-1
  • ​ Kerala-2
  • ​ Madhya Pradesh-1
  • ​ Madhya Pradesh-2
  • ​ Madhya Pradesh-3
  • ​ Maharashtra-1
  • ​ Maharashtra-2
  • ​ Maharashtra-3
  • ​ North Eastern
  • ​ Orissa-1
  • ​ Orissa-2
  • ​ Punjab-1
  • ​ Punjab-2
  • ​ Rajasthan-1
  • ​ Rajasthan-2
  • ​ Rajasthan-3
  • ​ Tamil Nadu-1
  • ​ Tamil Nadu-2
  • ​ Tamil Nadu-3
  • ​ Tamil Nadu-4
  • ​ Tamil Nadu-5
  • ​ Tamil Nadu-6
  • ​ Tamil Nadu-7
  • ​ Tamil Nadu-8
  • ​ Tamil Nadu-9
  • ​ Tamil Nadu-10
  • ​ Tamil Nadu-11
  • ​ Tamil Nadu-12
  • ​ Telangana-1
  • ​ Telangana-2
  • ​ Uttarkhand-1
  • ​ Uttarkhand-2
  • ​ Uttar Pradesh-1
  • ​ Uttar Pradesh-2
  • ​ Uttar Pradesh-3
  • ​ Uttar Pradesh-4
  • ​ Uttar Pradesh-5
  • ​ Uttar Pradesh-6
  • ​ Uttar Pradesh-7
  • ​ West Bengal-1
  • ​ West Bengal-2
  • ​ West Bengal-3
  • ​ West Bengal-4
  • ​ West Bengal-5
  • ​ West Bengal-6
• Public Provident Fund
  • ​ Andhra Pradesh
  • ​ Arunachal Pradesh
  • ​ Assam
  • ​ Bihar
  • ​ Chhattisgarh
  • ​ Delhi
  • ​ Gujarat
  • ​ Haryana
  • ​ Himachal Pradesh
  • ​ Jammu Kashmir
  • ​ Jharkhand
  • ​ Karnataka
  • ​ Kerala
  • ​ Madhya Pradesh
  • ​ Maharashtra
  • ​ North Eastern
  • ​ Orissa
  • ​ Punjab
  • ​ Rajasthan
  • ​ Tamil Nadu
  • ​ Telangana
  • ​ Uttarkhand
  • ​ Uttar Pradesh
  • ​ West Bengal
• ​Savings Bank Account Discontinued Accounts
  • ​ Andhra Pradesh
  • ​ Assam
  • ​ Bihar
  • ​ Chhattisgarh
  • ​ Delhi
  • ​ Gujarat
  • ​ Haryana
  • ​ Himachal Pradesh
  • ​ Jammu Kashmir
  • ​ Jharkhand
  • ​ Karnataka
  • ​ Kerala
  • ​ Madhya Pradesh
  • ​ Maharashtra
  • ​ North Eastern
  • ​ Orissa
  • ​ Punjab
  • ​ Rajasthan
  • ​ Tamil Nadu
  • ​ Telangana
  • ​ Uttarkhand
  • ​ Uttar Pradesh
  • ​ West Bengal
• Term Deposit Account Discontinued Accounts
  • ​ Andhra Pradesh
  • ​ Bihar
  • ​ Chhattisgarh
  • ​ Delhi
  • ​ Gujarat
  • ​ Haryana
  • ​ Himachal Pradesh
  • ​ Karnataka
  • ​ Kerala
  • ​ Madhya Pradesh
  • ​ Maharashtra
  • ​ Orissa
  • ​ Punjab
  • ​ Rajasthan
  • ​ Tamil Nadu
  • ​ Uttarkhand
  • ​ Uttar Pradesh
  • ​ West Bengal
• National Savings Certificates​​
  • ​ Andhra Pradesh-1
  • ​ Andhra Pradesh-2
  • ​ Arunachal Pradesh
  • ​ Assam
  • ​ Bihar
  • ​ Chhattisgarh
  • ​ Delhi-1
  • ​ Delhi-2
  • ​ Gujarat-1
  • ​ Gujarat-2
  • ​ Gujarat-3
  • ​ Haryana
  • ​ Himachal Pradesh
  • ​ Jammu Kashmir
  • ​ Jharkhand
  • ​ Karnataka-1
  • ​ Karnataka-2
  • ​ Karnataka-3
  • ​ Karnataka-4
  • ​ Karnataka-5
  • ​ Karnataka-6
  • ​ Karnataka-7
  • ​ Karnataka-8
  • ​ Karnataka-9
  • ​ Karnataka-10
  • ​ Karnataka-11
  • ​ Karnataka-12
  • ​ Karnataka-13
  • ​ Karnataka-14
  • ​ Karnataka-15
  • ​ Karnataka-16
  • ​ Karnataka-17
  • ​ Karnataka-18
  • ​ Karnataka-19
  • ​ Kerala-1
  • ​ Kerala-2
  • ​ Kerala-3
  • ​ Kerala-4
  • ​ Kerala-5
  • ​ Madhya Pradesh-1
  • ​ Madhya Pradesh-2
  • ​ Maharashtra-1
  • ​ Maharashtra-2
  • ​ Maharashtra-3
  • ​ Maharashtra-4
  • ​ Maharashtra-5
  • ​ Maharashtra-6
  • ​ Maharashtra-7
  • ​ Maharashtra-8
  • ​ North Eastern
  • ​ Orissa-1
  • ​ Orissa-2
  • ​ Orissa-3
  • ​ Punjab-1
  • ​ Punjab-2
  • ​ Rajasthan-1
  • ​ Rajasthan-2
  • ​ Rajasthan-3
  • ​ Rajasthan-4
  • ​ Tamil Nadu-1
  • ​ Tamil Nadu-2
  • ​ Tamil Nadu-3
  • ​ Tamil Nadu-4
  • ​ Tamil Nadu-5
  • ​ Telangana-1
  • ​ Telangana-2
  • ​ Telangana-3
  • ​ Uttarkhand
  • ​ Uttar Pradesh-1
  • ​ Uttar Pradesh-2
  • ​ Uttar Pradesh-3
  • ​ Uttar Pradesh-4
  • ​ Uttar Pradesh-5
  • ​ Uttar Pradesh-6
  • ​ Uttar Pradesh-7
  • ​ Uttar Pradesh-8
  • ​ Uttar Pradesh-9
  • ​ West Bengal-1
  • ​ West Bengal-2
  • ​ West Bengal-3
  • ​ West Bengal-4
• ​Kisan Vikas Patra ​
  • ​ Andhra Pradesh
  • ​ Arunachal Pradesh
  • ​ Assam
  • ​ Bihar
  • ​ Chhattisgarh
  • ​ Delhi-1
  • ​ Delhi-2
  • ​ Gujarat-1
  • ​ Gujarat-2
  • ​ Gujarat-3
  • ​ Gujarat-4
  • ​ Haryana
  • ​ Himachal Pradesh
  • ​ Jammu Kashmir
  • ​ Jharkhand
  • ​ Karnataka-1
  • ​ Karnataka-2
  • ​ Kerala
  • ​ Madhya Pradesh-1
  • ​ Madhya Pradesh-2
  • ​ Maharashtra-1
  • ​ Maharashtra-2
  • ​ Maharashtra-3
  • ​ Maharashtra-4
  • ​ Maharashtra-5
  • ​ North Eastern
  • ​ Orissa
  • ​ Punjab-1
  • ​ Punjab-2
  • ​ Rajasthan-1
  • ​ Rajasthan-2
  • ​ Tamil Nadu-1
  • ​ Tamil Nadu-2
  • ​ Telangana
  • ​ Uttarkhand
  • ​ Uttar Pradesh-1
  • ​ Uttar Pradesh-2
  • ​ Uttar Pradesh-3
  • ​ Uttar Pradesh-4
  • ​ Uttar Pradesh-5
  • ​ West Bengal-1
  • ​ West Bengal-2
  • ​ West Bengal-3
  • ​ West Bengal-4
  • ​ West Bengal-5
• Monthly Income Scheme​
  • ​ Andhra Pradesh
  • ​ Arunachal Pradesh
  • ​ Assam
  • ​ Bihar
  • ​ Chhattisgarh
  • ​ Delhi
  • ​ Gujarat
  • ​ Haryana
  • ​ Himachal Pradesh
  • ​ Jammu Kashmir
  • ​ Jharkhand
  • ​ Karnataka
  • ​ Kerala
  • ​ Madhya Pradesh
  • ​ Maharashtra
  • ​ North Eastern
  • ​ Orissa
  • ​ Punjab
  • ​ Rajasthan
  • ​ Tamil Nadu
  • ​ Telangana
  • ​ Uttarkhand
  • ​ Uttar Pradesh
  • ​ West Bengal-1
  • ​ West Bengal-2
• Recurring Deposit​
  • ​ Andhra Pradesh
  • ​ Arunachal Pradesh
  • ​ Assam
  • ​ Bihar
  • ​ Chhattisgarh
  • ​ Delhi-1
  • ​ Delhi-2
  • ​ Gujarat
  • ​ Haryana-1
  • ​ Haryana-2
  • ​ Himachal Pradesh
  • ​ Jammu Kashmir
  • ​ Jharkhand
  • ​ Karnataka-1
  • ​ Karnataka-2
  • ​ Karnataka-3
  • ​ Karnataka-4
  • ​ Karnataka-5
  • ​ Karnataka-6
  • ​ Kerala-1
  • ​ Kerala-2
  • ​ Kerala-3
  • ​ Madhya Pradesh-1
  • ​ Madhya Pradesh-2
  • ​ Madhya Pradesh-3
  • ​ Maharashtra-1
  • ​ Maharashtra-2
  • ​ Maharashtra-3
  • ​ Maharashtra-4
  • ​ Maharashtra-5
  • ​ Maharashtra-6
  • ​ North Eastern
  • ​ Orissa
  • ​ Punjab-1
  • ​ Punjab-2
  • ​ Rajasthan-1
  • ​ Rajasthan-2
  • ​ Rajasthan-3
  • ​ Tamil Nadu-1
  • ​ Tamil Nadu-2
  • ​ Tamil Nadu-3
  • ​ Tamil Nadu-4
  • ​ Tamil Nadu-5
  • ​ Tamil Nadu-6
  • ​ Tamil Nadu-7
  • ​ Tamil Nadu-8
  • ​ Tamil Nadu-9
  • ​ Tamil Nadu-10
  • ​ Tamil Nadu-11
  • ​ Tamil Nadu-12
  • ​ Tamil Nadu-13
  • ​ Tamil Nadu-14
  • ​ Telangana
  • ​ Uttarkhand-1
  • ​ Uttarkhand-2
  • ​ Uttar Pradesh-1
  • ​ Uttar Pradesh-2
  • ​ Uttar Pradesh-3
  • ​ Uttar Pradesh-4
  • ​ Uttar Pradesh-5
  • ​ West Bengal-1
  • ​ West Bengal-2
  • ​ West Bengal-3

  
  
• Term Deposit​
  • ​ Andhra Pradesh
  • ​ Arunachal Pradesh
  • ​ Assam
  • ​ Bihar
  • ​ Chhattisgarh
  • ​ Delhi
  • ​ Gujarat
  • ​ Haryana
  • ​ Himachal Pradesh
  • ​ Jammu Kashmir
  • ​ Jharkhand
  • ​ Karnataka
  • ​ Kerala
  • ​ Madhya Pradesh
  • ​ Maharashtra
  • ​ North Eastern
  • ​ Orissa
  • ​ Punjab
  • ​ Rajasthan
  • ​ Tamil Nadu-1
  • ​ Tamil Nadu-2
  • ​ Tamil Nadu-3
  • ​ Telangana
  • ​ Uttarkhand
  • ​ Uttar Pradesh
  • ​ West Bengal
• Senior Citizens Savings Scheme​​
  • ​ Andhra Pradesh
  • ​ Assam
  • ​ Bihar
  • ​ Chhattisgarh
  • ​ Delhi
  • ​ Gujarat
  • ​ Haryana
  • ​ Himachal Pradesh
  • ​ Jammu Kashmir
  • ​ Jharkhand
  • ​ Karnataka
  • ​ Kerala
  • ​ Madhya Pradesh
  • ​ Maharashtra
  • ​ North Eastern
  • ​ Orissa
  • ​ Punjab
  • ​ Rajasthan
  • ​ Tamil Nadu
  • ​ Telangana
  • ​ Uttarkhand
  • ​ Uttar Pradesh
  • ​ West Bengal

  ​

Senior Citizen Welfare Fund Rules ​2016

1. How can I claim payment of deceased account / certificate holder?

   The claimant may be the nominee or legal heir.
   If there is nomination, the nominee can prefer the claim in the prescribed form along with death certificate.
   If there is no nomination, any one of the legal heirs can prefer the claim in the prescribed form [SB84]. For this death certificate and consent statements of all legal heirs are required. Claim up to one lakh can be settled.
   If the claim is exceeding one lakh, claims can be settled by legal evidence ie, by probate of will or succession certificate.

2. How to transfer accounts and certificate?

   For transfer of accounts- the depositor should apply in the prescribed form SB10(b) or manual application. The application can be given either in transferring office or transferee office.
   For transfer of certificates- the investor should apply in the prescribed form[NC32]. The application may be given in either of the offices.
   

3. How to open an account in post office and its requirements?

   To open an account [Savings Bank(SB), Recurring Deposit(RD), Time Deposit(TD), Monthly Income Scheme(MIS) SB3, SB103 (pay-in-slip) and specimen signature slip for SB and TD are required.
   For senior citizen accounts, separate forms are to be used. For SB account introduction is compulsory.

4. What is silent account and how to revive it?

   When there is no transaction in an SB account continuously for 3 financial years, the account will be treated as silent account.
   For revival, one application from the customer is required. LSG/HSG offices can revive the accounts independently. Remaining offices, HO will revive the accounts.
   If the balance in the silent account is less than minimum, then INR. 20/- will be debited towards service charges.

5. What are late payment fees for recurring deposits?

   The monthly deposits should be credited on any day of the month. If the monthly installment is not credited for any particular month, then it becomes a default. The defaulted months can be credited subsequently (for INR. 10/- denomination, 0.020 rs for each month of default) maximum 4 defaults are allowed.

6. What is the procedure for the issue of duplicate certificates?

   The investor should apply in the prescribed form for duplicate certificate in respect of lost, stolen, destroyed, mutilated or defaced certificates (NC29).
   The application shall be accompanied by a statement showing particulars of certificates and furnish an indemnity bond in the prescribed form with one or more sureties or with a bank guarantee is required.
   In case of mutilated or defaced certificates, no indemnity bond is required.

7. How I get duplicate passbook?

   Application in the prescribed form or manuscript application may be given by affixing prescribed fee in the form of postage stamp. New duplicated Passbook will be issued by sub post offices only.

8. What are the norms for issuing a Cheque Books?

   Cheque books are issued in respect of Cheque accounts.
   In a Cheque account, minimum balance should be INR. 500/-

9. What are the service charges for outstations Cheque?

   Cheque realization charges for outstation Cheque.
   INR. 30/- for first thousand or part
   INR. 3/- for each additional thousand or part
   In case of bouncing of Cheque INR. 50/- is charges as service charge.

10. Can Monthly Income Scheme (MIS) interest be credited to RecurringDeposit (RD) account?

    No. There is no provision. Interest amount can be credited to SB account and after that from SB to RD is permissible.

11. What is the minimum balance required for an account?

    Minimum balances in respect of different types of account is given below.

    Minimum balances in respect of different types of account

    SB(Cheque account)	INR. 500/-
    SB(non Cheque account)	INR. 50/-
    MIS	INR. 100/-
    TD	INR. 1​00/-
    PPF	INR. 500/-
    Senior Citizen	INR. 1000/-

12. How I can get encashment of certificates / account before maturity?

    encashment of certificates / account before maturity for different account

    NSCs (VIII Issue)	Maturity period 5 years (for certificates issued on or after .01.11.2011). No premature encasement possible.
    Different Savings Accounts
    SB	Can be closed at any time
    RD	Premature closure permissible after 3 years - only SB rate is permissible
    TD	Premature closure permissible after 6 months
    MIS	Premature closure permissible after 1 year
    Senior Citizen	Premature closure after 1 year

    ​

  13. Are there any charges for the use of ATM Card ?

         Charges in respect of different types of ATM transactions are given below.

• Post Office Savings Account​​

  Post Office Savings Account

  Salient features including Tax Rebate

  Account may be opened by (i) a single adult (ii) Joint Account (Maximum 2 adults) (iii) Minor above 10 years of age (iv) A guardian on behalf of a minor/Person of unsound mind Account can be opened by cash only Minimum balance to be maintained in an account is INR 500/- , if balance Rs. 500 not maintained, a maintenance fee of one hundred (100) rupees shall be deducted from the account on the last working day of each financial year and after deduction of the account maintenance fee, if the balance in the account becomes nil, the account shall stand automatically closed Cheque facility/ATM facility are available Cheque facility can be taken in an existing account also. 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. At least one transaction of deposit or withdrawal in three financial years is necessary to keep the account active, else account became silent (Dorment) Minor after attaining majority has to apply for conversion of the account in his name Intra Operable Netbanking/Mobile Banking facility is available Online Fund transfer between Post Office Savings Accounts/Stop Cheque/Transaction View facility is available through Intra Operable Netbanking/Mobile Banking Facility to link with IPPB Saving Account is available Funds Transfer (Sweep in/Sweep out) facility is available with IPPB Saving Account.

• National Savings Recurring Deposit Scheme

  Salient features including Tax Rebate

  Account may be opened by (i) a single adult (ii) Joint Account (Maximum 3 adults) (iii) Minor above 10 years of age (iv) A guardian on behalf of a minor/Person of unsound mind Account can be opened by cash / Cheque and in case of Cheque the date of deposit shall be date of clearance of Cheque 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 Any number of accounts can be opened in any post office Subsequent deposit can be made up to 15th day of next month if account is opened up to 15th of a calendar month and up to last working day of next month if account is opened between 16th day and last working day of a calendar month If subsequent deposit is not made up to the prescribed day, a default fee is charged for each default, default fee @ 1 Rs for every 100 rupee shall be charged. After 4 regular defaults, the account becomes discontinued and can be revived in two months but if the same is not revived within this period, no further deposit can be made *If in any RD account, there is monthly default amount , the depositor has to first pay the defaulted monthly deposit with default fee and then pay the current month deposit. This will be applicable for both CBS and non CBS *There is rebate on advance deposit of at least 6 installments, Rs. 10 for 6 month and Rs. 40 for 12 months Rebate will be paid for denomination of Rs. 100 Minor after attaining majority has to apply for conversion of the account in his name One withdrawal up to 50% of the balance allowed after one year. It may be repaid in one lumpsum along with interest at the prescribed rate at any time during the currency of the account Online Deposit facility is available through Intra Operable Netbanking/Mobile Banking Online Deposit facility is available through IPPB Saving Account Date of maturity will be 5 years after date of opening. Account can be extended for further 5 year by giving application at account office

• ​ National Savings Time Deposit Account

  Salient features including Tax Rebate

  ​ .Account may be opened by (i) a single adult (ii) Joint Account (Maximum 3 adults) (iii) Minor above 10 yearsof age (iv) A guardian on behalf of a minor/Person of unsound mind Account can be opened by cash /Cheque and in case of Cheque the date of realization of cheque in Govt. account shall be date of opening of account 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 Any number of accounts can be opened in any post office 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. TD account can be extended by giving an application in account office Interest shall be payable annually, No additional interest shall be payable on the amount of interest that has become due for payment but not withdrawn by the account holder The annual interest may be credited to the savings account of the account holder at his option Premature encashment not allowed before expiry of 6 month, If closed between 6 month to 12 month from date of Opening, Post Office Saving Accounts interest rate will be payable The investment under 5 Years TD qualifies for the benefit of Section 80C of the Income Tax Act, 1961 from 1.4.2007. Online Account Opening facility is available through Intra Operable Netbanking/Mobile Banking

• National Savings Monthly Income Account (MIS)

  Salient features including Tax Rebate

  Account may be opened by (i) a single adult (ii) Joint Account (Maximum 3 adults) (iii) Minor above 10 years of age (iv) A guardian on behalf of a minor/Person of unsound mind. Account can be opened by cash/Cheque and in case of Cheque the date of realization of Cheque in Govt. account shall be date of opening of account 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. Any number of accounts can be opened in any post office subject to maximum investment limit by adding balance in all accounts (Rs. 4.5 Lakh) 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 Maturity period is 5 years from 1.12.2011 Interest can be drawn through auto credit into savings account standing at same post office,orECS./In case of MIS accounts standing at CBS Post offices, monthly interest can be credited into savings account standing at any CBS Post offices Can be prematurely en-cashed after one year but before 3 years at the discount of 2% of the deposit and after 3 years at the discount of 1% of the deposit. (Discount means deduction from the deposit.) A bonus of 5% on principal amount is admissible on maturity in respect of MIS accounts opened on or after 8.12.07 and up to 30.11.2011. No bonus is payable on the deposits made on or after 1.12.2011 Interest shall be payable to the account holder on completion of a month from the date of deposit If the interest payable every month is not claimed by the account holder such interest shall not earn any additional interest.

• Senior Citizens Savings Scheme Account​

  ​Salient features including Tax Rebate

  An individual of the Age of 60 years or more may open the account. An individual of the age of 55 years or more but less than 60 years who has retired on superannuation or under VRS can also open account subject to the condition that the account is opened within one month of receipt of retirement benefits and amount should not exceed the amount of retirement benefits Maturity period is 5 years A depositor may operate more than one account in individual capacity or jointly with spouse (husband/wife) Account can be opened by cash for the amount below INR 1 lakh and for INR 1 Lakh and above by Cheque only. In case of Cheque, the date of realization of Cheque in Govt. account shall be date of opening of account. 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 Any number of accounts can be opened in any post office subject to maximum investment limit by adding balance in all accounts. Joint account can be opened with spouse only and first depositor in Joint account is the investor. In case of SCSS accounts, quarterly interest shall be payable on 1st working day of April, July, October and January. It will be applicable at all CBS Post Offices. *Quarterly interest of SCSS accounts standing at CBS Post offices can be credited in any savings account standing at any other CBS post offices. Premature closure is allowed, (i) If closed before 1 year , no interest will be payable, if paid already will be recovered. (ii) after one year on deduction of an amount equal to1.5% of the deposit to be deducted (iii) after 2 years 1% of the deposit to be deducted. After maturity, the account can be extended for further three years within one year of the maturity by giving application in prescribed format. In such cases, account can be closed at any time after expiry of one year of extension without any deduction. TDS is deducted at source on interest if the interest amount is more than INR 50,000/- p.a Investment under this scheme qualifies for the benefit of Section 80C of the Income Tax Act, 1961 from 1.4.2007.

• ​Public Provident Fund Account ​

  ​Salient features including Tax Rebate

  An individual can open account with INR 500/- anda deposit minimum of INR 500/- in a financial year and maximum INR 1,50,000/- (including amount deposited in minor account opened on behalf of guardian). Any account in which the account holder, having deposited five hundred rupees in the initial year, fails to deposit the minimum amount in the following years, shall be treated as discontinued and that account may be revived during its maturity period on payment of a fee of fifty rupees along with arrears of minimum deposit of five hundred rupees for each year of default Joint account cannot be opened and only one account can be opened by a citizen in India Account can be opened by cash / Cheque and In case of Cheque, the date of realization of Cheque in Govt. account shall be date of opening of account 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 The subscriber can open another account in the name of minors but subject to maximum investment limit by adding balance in all accounts Maturity period is 15 years but the same can be extended within one year of maturity for further 5 years and so on Maturity value can be retained without extension and without further deposits also Premature closure is can be allowed after 5 years from the end of the year in which the account was opened subject to the following conditions. 1% interest will be deducted from the date of account opening . (i) In case of life threatening disease of account holder, spouse or dependent children. (ii) In case of higher education of account holder or dependent children. (iii) In case of change of resident status of account holder Deposits qualify for deduction from income under Sec. 80C of IT Act Interest is completely tax-free Online Deposit facility is available through Intra Operable Netbanking/Mobile Banking.. Online Deposit facility is available through IPPB Saving Account.. No attachment under court decree order The PPF account can be opened in a Post Office which is Double handed and above Loan can be taken after the expiry of one year from the end of the year in which the initial subscription was made but before expiry of five years from the end of the year in which the initial subscription was made Withdrawal can be taken after the expiry of five years from the end of the year in which the account was opened.

• National Savings Certificates (VIII Issue) ​Account​

  Salient features including Tax Rebate

  Certificate may be purchased by (i) a single adult (ii) Joint Account (Maximum 3 adults) (iii) Minor above 10 years of age (iv) An adult on behalf of a minor. (v) A guardian on behalf of a person of unsound mind 2. NSC will be issued in the shape of Passbook w.e.f. 01.07.2016 3. Deposits qualify for tax rebate under Sec. 80C of IT Act. 4. The interest accruing annually but deemed to be reinvested under Section 80C of IT Act. *In case of NSC VIII , transfer of certificates from one person to another can be done only once from date of issue to date of maturity At the time of transfer of Certificates from one person to another, old certificates will not be discharged. Name of old holder shall be rounded and name of new holder shall be written on the old certificate and on the purchase application(in case of non CBS Post offices) under dated signatures of the authorized Postmaster along with his designation stamp and date stamp of Post office

• Kisan Vikas Patra Account

  Salient features

  Certificate can be purchased by (i) a single adult (ii) Joint Account (Maximum 3 adults) (iii) Minor above 10 years of age (i) An adult on behalf of a minor. (ii) A guardian on behalf of a person of unsound mind KVP will be issued in the shape of Passbook w.e.f. 01.07.2016 KVP can be purchased from any Departmental Post office Facility of nomination is available Certificate can be transferred from one person to another and from one post office to another. Certificate can be encashed after 2 & 1/2 years from the date of issue

• ​Sukanya Samriddhi Account

  ​Salient features including Tax Rebate

  A legal Guardian/Natural Guardian can open account in the name of Girl Child. A guardian can open only one account in the name of one girl child and maximum two accounts in the name of two different Girl children. Account can be opened up to age of 10 years only from the date of birth. If minimum Rs 25​0/- is not deposited in a financial year, account will become discontinued and can be revived with a penalty of Rs 50/- per year with minimum amount required for deposit for that year. Deposits may be made in the account till the completion of a period of fifteen years from the date of opening of the account Partial withdrawal, maximum up to 50% of balance standing at the end of the preceding financial year can be taken after Account holder’s attaining age of 18 years. Account can be closed after completion of 21 years. Normal Premature closure will be allowed after completion of 18 years on the occasion of marriage (1 month before and 3 month from date of marriage) Online Deposit facility is available through Intra Operable Netbanking and IPPB Saving Account. ​​

• ​Schedule of Fee

  ​Salient features

  Issue of duplicate pass book - Rs. 50 Issue of statement of account or deposit receipt-Rs. 20 in each case. Issue of pass book in lieu of lost or mutilated certificate –Rs. 10 per registration Cancellation or change of nomination –Rs. 50 Transfer of account – Rs. 100 Pledging of account – Rs. 100 Issue of cheque book in Savings Bank Account – No fee for upto10 leafs in a calendar year and thereafter at Rs. 2 per cheque leaf Charges on dishonour of cheque-Rs. Tax as applicable on the above service charges shall also be payable.​

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