|
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 other wise
guaridan 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
|
|
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is withdrawn after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the deposit is withdrawn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
|
|
What is
rate of interst 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
|
|
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 Depost 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 our
blog http://postalguide100.blogspot.in
&
http://nfpemavelikaradivision.blogspot.com
|
|
If any suggestion , opinion
and queries ,
please intimate by
email Email id
|
Saturday, 17 August 2013
FAQ for Post office Savings Bank Account - A study material for various Examination
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