India - Open a Post Office Savings Account

ProcedureEdit

Apply In-Person:

Applicant shall visit their nearest post office to open a post office savings account.
Go to the post office and obtain the application form to open an account.
Fill the form with appropriate information.
Submit the completed application form along with required documents as mentioned in the required documents section below to the Postmaster.
Pay the deposit amount.
After receipt of application, the receiving authority will check the submitted application and documents. If all are in place, this application will be processed further.
After internal processing, account will be opened and post office savings pass book with information booklet will be delivered through post to the applicants address as mentioned on the application form.

Note:

Only one account can be opened by an individual as a single account
Nomination is mandatory at the time of opening of account
Please select the state name for respective State Procedure

Andaman and Nicobar – Andhra Pradesh – Arunachal Pradesh – Assam – Bihar – Chandigarh – Chhattisgarh – Daman and Diu – Goa - Gujarat – Haryana – Himachal Pradesh – Jammu and Kashmir – Jharkhand – Karnataka – Kerala – Lakshadweep – Madhya Pradesh – Maharashtra – Manipur – Meghalaya – Mizoram – Nagaland – New Delhi – Odisha – Puducherry – Punjab – Rajasthan – Sikkim – Tamil Nadu – Telangana – Tripura – Uttar Pradesh – Uttarakhand – West Bengal

Required DocumentsEdit

Account Opening Form
ID proofs like Voter card, Aadhaar card, Driving license, Ration card.
Address proofs like Electricity bill, Ration card, bank passbook, and telephone bill.
KYC Form (Know Your Customer (KYC) Norms)
For Joint Account, KYC (Know Your Customer (KYC) Norms) documents for all joint holders.
For minor account, KYC (Know Your Customer (KYC) Norms) detail of guardian.
PAN Card
Aadhaar card
- If Aadhaar 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 state government and 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.
Any other relevant information

Note:

Documents should be self-attested
Apart from the above documents authorities may ask to submit additional information or documents. Please provide them for processing.

Office Locations & ContactsEdit

Postmaster General,
Meghdoot Bhawan, Link Road,
New Delhi – 110001.
Email: [email protected]
Phone: 011-23620144 (Tel), 23627114 (Fax)

Postal Directorate
Dak Bhavan,New Delhi - 110001
Telephone: 011-23096060
Email: [email protected]
Contacts Link

EligibilityEdit

A single adult
Two adults only (Joint A or Joint B)
A guardian on behalf of minor
A guardian on behalf of person of unsound mind
A minor above 10 years in his own name
- Group Accounts, Institutional Accounts and other accounts like Security Deposit Accounts & Official Capacity Accounts are not permissible.
- NRI, Trust, Firm, Institutions/post/company etc are not eligible for opening of account under any National (Small) Savings Scheme.

FeesEdit

Minimum Amount for opening of account and maximum balance that can be retained: INR 500/-
If you want to get a post office savings account without a cheque book, you will need to pay a deposit amount of at least Rs.50.

ValidityEdit

This account is valid till the account holder is alive

Or

As long as deposit/withdrawal takes place in an account.
If no deposit/withdrawal takes place in an account during continuous three financial years, the account shall be treated as silent/dormant

Documents to UseEdit

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Sample DocumentsEdit

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Processing TimeEdit

2 working days.

InstructionsEdit

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 has 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

Required InformationEdit

Applicant details
Applicant address
Mobile number
Email ID
Passport size photo
Nominee details
Any other relevant information

Need for the DocumentEdit

Following features of “Post Office Savings Account” attracts an individual to open an account.
- An individual can open “Post Office Savings Account” with a small deposit amount and subsequent deposits can be made not less than 10 rupees.
- Post Office Savings Account provides customer the flexibility to withdraw minimum of Rs.50.

Information which might helpEdit

No withdrawal will be permitted, if the minimum balance falls below Rs. 500.
In case account balance not raised to Rs. 500 at the end of financial year Rs. 100 will be deducted as Account Maintenance Fee and if account balance became Nil the account shall stand automatically closed
Interest earned from an account, up to Rs 10,000 per annum, is tax free.
The interest at the rate of four percent per annum shall be allowed for a calendar month on the lowest balance at the credit of an account between the close of the tenth day and the end of the month, and such interest shall be calculated and credited in the account at the end of each year
An account in which a deposit or a withdrawal has not taken place for three complete years, then the account shall be treated as a Silent Account and credit of interest in a Silent Account shall not be treated as a transaction.

External LinksEdit

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OthersEdit

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