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Saving Schemes at a glance
04/18/23 Rule No :
WHO CAN OPEN
MAX. DEP NO. OF ACCOUNTS WHO CAN OPERATE
Person of 18 yrs
No Limit Any number but one in one PO(Joint with separate co depositors- any no.)
Self/ Illiterate, blind, handicapped can operate independently or through agent
Minor of 10 years or more
No Limit One account any where self
Minor through guardian
No Limit One on behalf one minor Guardian in minority period, thereafter by the depositor
Lunatic through guardian
No Limit One on behalf one lunatic Guardian
Medical Supdt. Of mental hospital
No Limit One on behalf one lunatic Supdt. Of Mental hospital
TYPE WHO CAN OPEN
MAX. DEP NO. OF ACCOUNTS
WHO CAN OPERATE
JOINT A
TWO OR THREE ADULTS
No Limit Any number but one in one PO(Joint with separate co depositors- any no.)
ALL or survivor(s)
JOINT B
TWO OR THREE ADULTS
No Limit Any number but one in one PO(Joint with separate co depositors- any no.)
Any one or two orsurvivor(s)
WHO CAN OPEN MAX. DEP NO. OF ACCOUNTS
WHO CAN OPERATE
Any pensioner retired from Govt. Department either single or Joint with spouse (authorized for family pension in PPO)
No Limit ONE 1.HO SB/SOSB- PM for depositing Pension for March on Ist April & on last working day for other months
2.PM can withdraw any amount deposited in excess mistakenly
3. Pensioner / joint holders can withdraw only
WHO CAN OPEN MAX. DEP NO. OF ACCOUNTS
WHO CAN OPERATE
Principal of a school/college - one teacher & two students of age not below 10 years
•Copy of formation of Sanchaika be attached with SB-3
No Limit ONE All three jointly. If any depositor leaves the school/college- new will be appointed by the Principal
Basic Saving accountSingle Account
• A Registered adult member of any central govt. welfare scheme
Joint AccountCan not be opened but NREGA account opened as
joint can be continued.Minimum deposit - -NILNumber of accounts- OneMinimum balance - - NIL
04/18/23 Rule No :
Basic Saving accountType of deposit - w.e.f. 24/12/2012 - (a)
Wages released under MNREGA Act.(b) Any other government benefit (except
Indira Gandhi Old age/ widow/old age pension.
( c ) Any deposit by worker wage account holder in to his/ her account admissible under Post Office Savings Bank rules 1981.
Non-transferableNo cheque facility
04/18/23 Rule No :
For minor, either mother, father or legal guardian can open account. Account will be operated by the guardian who opens the account.
A depositor can open any no. of Joint accounts in a PO with separate co depositors besides one Single & Pension account in his own name.
In case of joint accounts, after the death of any depositor(s) the account will be treated as account in the name(s) of survivors from the date of death of that depositor(s).
If the last surviving depositor of a joint account have one single account already opened in his/her name in the same PO , one account will have to be closed.
If a guardian is having one account for a minor, the same minor can open one more account in the same PO if he/she has attained the age of 10 years. But on attaining majority he/she will have to close one of the accounts.
THANK YOU
