What is the present rate of interest for SB Accounts? |
Whether any nomination facility is available for Savings Bank Account in Post Office Yes Nomination facility is available for all individual accounts except in Minor accounts |
Whether a minor can open a Saving account ? Yes, If he is of 10 years of age he can open account otherwise guardian can open for him |
Whether Introduction is compulsory for Open SB account ? Yes , Introduction of the depositor is compulsory for Individual accounts unless the depositor is known to the post office Introduction for opening of savings account is not mandatory as per SB order No.9/2012. Published by : http://sapost.blogspot.in/ |
Whether there is any Limit for deposit in SB account? From 01.10.2011 onwards , there will be no limit for retaining balance in single as well as Joint accounts |
What is the minimum balance of cheque account for SB account 500/- |
What is the minimum amount of deposit in RD account Rs 10/- |
Whether a RD account can be continued after maturity period Yes it can be continued for a further period of five years from date of maturity |
Then what is the rate of interest of matured for post maturity period in RD accounts The depositor shall be entitled to a simple interest at the rate applicable time to time to PO savings account from the date of maturity till the date of payment |
Whether there is any Premature closure is allowed for Recurring Deposit (RD) Yes , Premature closure is permitted on completion of three years from the date of Opening |
What is the present rate of interest rate of 1,2,3,5 year Time Deposit (TD) accounts For 1 and 2 Year 8.20 % per annum For 3 year 8.30 % Per annum and 5 year 8.40 % per annum |
Whether any limit is exists for open TD accounts in case of no of accounts No , Any number of TD accounts can be opened |
Whether any facility for transfer annual interest of TD accounts to my Savings account Yes Annual interest can be automatically credited to Savings account |
What is the rate of interest allowed at the time of Post maturity for TD accounts Post maturity interest shall be allowed at SB rate |
What are the conditions for premature closure for TD accounts? Premature closure of the account is permitted on some conditions In case of premature closure TD accounts of 1,2,3 and 5 Years accounts . if deposit is withdrawn after six months , but before the expiry of one year from the date of deposit , simple interest at the rate applicable from time to time to PO savings account shall be payable In case of premature closure on or after 01.12.2011 , if the deposit is withdrawn after expiry of one year from the date of deposit , interest on such deposit shall be calculated at the rate , which shall be one percent less than rate specified for a period of deposit of 1 year, 2 years and 3 years |
What is the maturity period of Monthly income Scheme (MIS) The maturity period of MIS on or after 01.12.2011 |
What is the minimum and maximum amount for open a MIS account? Minimum amount of deposit is Rs 1500 and in multiples of Rs 1500/- Maximum amount is Rs 4.5 Lakhs in the case of Single account and 9 lakhs in the case of Joint account . Maturity Period = 5 years |
What is rate of interest for MIS accounts? From 01/04/2013 the rate of interest for MIS accounts is 8.4 % per annum |
What is the rate of bonus which is applicable for MIS account ? No Bonus will be paid for the accounts opened from 13/02/2006 to 07/12/2007 5 % Bonus is payable for the accounts opened on or after 08.12.2007. There shall be no bonus admissible on maturity in the accounts opened on or after 01.12.2011 |
Whether premature closure is allowed for MIS , If so then what are the conditions for that Yes, If the account is closed before three years an amount equal to two percent of the deposit shall be deducted and If the account is closed after three years an amount equal to one percent on the deposit amount shall be deducted . |
What is the period for Senior Citizens savings scheme? Five Years |
Who can open SCSS account? Any individual who has attained the age of 60 years on the date of opening or who has attained the age of 55 years or more but less than 60 years and who has retired on superannuation or otherwise on the date of opening of an account under these rules subject to the condition that the account is opened by such individual within one month of the date of receipt of the retirement benefits along with a certificate from the employer indicating the fact of retirement on superannuation or otherwise , retirement benefit and period of such employment with the employer is attached with the supplication form Published by : http://sapost.blogspot.in/ |
Whether the joint account is permitted in the case SCSS account , If so what is the condition Yes ,Joint account is opened with the spouse only and not with any other person , In the case of joint account the age of first applicant ie depositor is the only factor to decide the eligibility and there is no age bar/limit for second applicant |
What is the present interest rate of SCSS account 9.2 % per annum |
Whether the Premature closure is allowed in SCSS account Yes, It is allowed after one year from the date of opening After one year and before 2 years from the date of opening Deduct 1.5 % from Deposit amount If the account is closed after two years Dedcut 1 % from the deposit |
| Prepared by S Jayachandran , System Administrator , Mavelikara Head Post Office , 690101- Kerala- Mob No 9961464279 Please visit : http://postalguide100.blogspot.in & http://nfpemavelikaradivision.blogspot.com |
If any suggestion , opinion and queries , please intimate by email Email id sapost2@gmail.com |
