ü Account can be opened by cash only.
ü 4.0%per
annum on individual/ joint accounts.
ü Minimum
INR 20/- for opening.
ü Minimum balance to be maintained in
a non-cheque facility account is INR 50/-.
ü Cheque facility available if an
account is opened with INR 500/- and for this purpose minimum balance of INR
500/-in an account is to be maintained.
ü Cheque facility can be taken in an
existing account also.
ü Interest earned is Tax Free up to
INR 10,000/- per year from financial year 2012-13.
ü Nomination facility is available at
the time of opening and also after opening of account.
ü Account can be transferred from one
post office to another.
ü Account can be opened in the name of
minor and a minor of 10 years and above age can open and operate the account.
ü Joint account can be opened by two
or three adults.
ü At least one transaction of deposit
or withdrawal in three financial years is necessary to keep the account active.
ü Single account can be converted into
Joint and Vice Versa.
ü Minor after attaining majority has
to apply for conversion of the account in his name.
ü Deposits and withdrawals can be done
through any electronic mode in CBS Post offices.
ü Inter Post office transactions
can be done between CBS post offices
ü ATM/Debit Cards can be issued to
Savings Account holders( having prescribed minimum balance on the day of issue
of card) of CBS Post offices