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Post office savings account interest rate account opening rule and important points here

Post Office Savings Account: You can also open a Post Office Savings Account for just Rs 500. There is no maximum limit for depositing money in the account.




Post Office Savings Account: If you look at the savings account of banks, you will find that most of the banks are giving very little interest on their savings account. In such a situation, if you want, you can open a Savings Bank Account in the Post Office (Post Office Savings Account opening). Here you also get more interest and the security of the money deposited in the account is also guaranteed by the Government of India.

Who can open account

You can open a Savings Account (Post Office Savings Account) in individual ie single, two joint, guardian on behalf of minor, guardian on behalf of person of perverted mind. If a minor is of 10 years or more, then he can open only one account in his own name. Keep in mind, the share of both will be equal in the joint account. If one dies, then the other member gets full rights to that account. If he wants, he can run that joint account, but he should not have a single account separately there. If so, then the account will have to be closed.

Account can be opened in minimum 500 rupees

You can also open a Post Office Savings Account for just Rs 500. There is no maximum limit for depositing money in the account. The customer gets an annual interest of 4 percent on the money deposited in the post office savings account. You can open only one single account here. At least 50 rupees can be withdrawn from the account. Minimum balance has to be maintained in the account of at least Rs 500.

Interest calculation and tax exemption

How is the interest calculated, no interest will be paid in any month if the balance between the 10th and last day of the month is less than Rs. According to section 80TTA of Income Tax, all savings bank accounts can get tax exemption on income from interest up to Rs 10,000 in a year.

These facilities can also be taken on the account

The benefits of check book, ATM card, Internet banking / mobile banking, Aadhaar seeding, Atal Pension Yojana (APY), Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) can also be taken on the post office savings account. could. For this you have to apply.

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