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Minimum Balance And Service Charges For Post Office Savings Account Scheme

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The Department of Posts (DoP) plays an important role in Indian economy for more than 150 years, there are more then 1,55,000 post offices in India and has become the widely distributed postal network all over the world. There are various kinds of financial services and schemes provided by post office, For so many years post office has become the backbone of communication.

 

If you are planning to start savings with Post Office or if you already have savings account with post office, its important for a person to know about the service charges applicable as well as minimum balance to be maintained in all types of Small Savings Accounts, in Post office. Its also Mandatory to maintain minimum balance in "Silent Account".

"Silent Account" are those accounts in which there is no deposit or withdrawal taken place for complete 3 financial years. If a person do not maintain the minimum balance in post office penalty will be applicable for such account. If any account does not have enough amount to be deducted and is nil such accounts will be automatically closed by post office department.

There are various types of Small Savings Schemes in post office. The
minimum balance varies in respect to the types of Small Savings Accounts we choose to make.

According to the department of post ministry of communications, government of India, here is the Minimum Balance in respect to the types of Small Savings Accounts, in Post Office:

Minimum Balance in respect to the types of Small Savings Accounts, in Post Office:

Minimum Balance in respect to the types of Small Savings Accounts, in Post Office:

Post Office Savings AccountINR. 500/-
National Savings Recurring Deposit AccountINR. 100/-
Monthly Income Scheme INR. 1000/-
Time Deposit AccountINR. 1000/-
Public Provident FundINR. 5​00/-
Sukanya Samriddhi AccountINR. 250/-
Senior Citizen Savings Scheme​INR. 1000/-
​National Savings Certificate (VIIIth Issue)​INR. 1000/-
​Kisan Vikas Patra​​INR. 1000/-

According to the department of post ministry of communications, government of India, here is the Service Charges or Schedule Fee for Savings Accounts, in Post office.

Service Charges or Schedule Fee for Savings Accounts, in Post office.
 

Service Charges or Schedule Fee for Savings Accounts, in Post office.

1. Duplicate Passbook - Rs. 50

2. Statement of Account or Deposit Receipt- Rs. 20 in each case

3. Issue of pass book in instead of Missing, stolen or destroye certificate -Rs. 10 per registration.

4. Transfer of account - Rs. 100

5. Pledging of account - Rs.100

6. Change or Cancellation of Nomination - Rs.50

7. Dishonour of cheque - Rs.100

8. No fee is applicable up to 10 leafs of cheque book in Savings Bank Account in calender year and thereafter Rs. 2 per cheque leaf.

Conclusion:

Conclusion:

These minimum balance and Schedule Fee for post office savings account are updated for the today's date i.e 20/12/2021, there might change in future. Always keep yourself updated with post office topic with us or make your own research.

Story first published: Monday, December 20, 2021, 13:20 [IST]
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