Interest:
7.3_% per annum payable monthly
Account Opening:
-An account may be opened by an individual.
-The account can be opened by cash/Cheque and in case of Cheque, the date of realization of Cheque in Govt. account shall be the date of opening of an account
Account Facilities:
-Nomination facility is available at the time of opening and also after the opening of an account
-The 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
-The account can be opened in the name of the minor and a minor of 10 years and above age can open and operate the account
-The joint account can be opened by two or three adults
-All joint account holders have an equal share in each joint account
-The 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 & Withdrawls:
-Maturity period is 5 years from 1.12.2011
-Interest can be drawn through auto credit into savings account standing at the same post office, through PDCs or ECS./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 encashed 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 a 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.
Follow us on our social media channels:
Copyright © 2025 Design and developed by Fintso. All Rights Reserved
+91 99410 68410
Industry News