| 1. Who can invest? |
I. Single Account
- An individual (18 years & above)
- A minor who has attained the age of 10 years.
- A guardian on behalf of a minor.
- A guardian of a person of unsound mind.
|
II. Joint Account
|
| 2. How much to invest ? |
- A Single Account Minimum Rs. 20/-. Upto Rs. 1.00 lac.
- Joint Account Minimum Rs. 20/-. Upto Rs. 2.00 lacs.
|
| 3. Where to Invest ? |
In any Head post office/Sub post office |
| 4. Rate of Interest |
3.5% |
| 5. Duration |
No duration fixed |
| 6. Deposits and Withdrawals |
- No subsequent deposit shall be of a sum less than five rupees.
- No withdrawl shall be for a sum less than five rupees.
|
| 7. Closure of Account |
Any Time |
| 8. Nomination facility |
Available |
| 9. Tax benefits |
Interest income exempted from Income Tax U/s 10 of I.T.
Act 1961 |
