Post office savings account


What facilities are offered by post office savings account?



Here are the facilities that you can avail.

Cheque facility

Cheque facility is available and can be requested for existing accounts as well.

ATM/Debit card

For those account holders who have maintained the prescribed minimum balance on the day of issuance of the Debit Card, CBS Post Offices can grant ATM/Debit cards.

Net Banking

CBS post offices provide net banking facility to savings accountholders.

Electronic Facilities

Customers can make withdrawals and deposits through any electronic mode in CBS Post offices.

Minor Accounts

Post Office Savings Account is available to minors. For minors below the age of 10, an account can be opened in their name, but the parent or guardian will be given rights to operate the account on their behalf. Minors of 10 years and above can operate the account on their own.


If you shift your residence or are not happy with the services of the post office branch or for any other reason, you can shift your Post Office Savings Account to a branch of your choice. Only one account can be opened in one post office.


The facility to nominate someone is made available under these accounts at the time of opening the account. The account holder can also choose to nominate a person to receive the proceeds of this account after their demise at any time.

Joint Holdings

Two or three adults are allowed to hold an account together under the joint account facility. A single account can be converted to a joint account and vice versa.

Tax Exemptions

Under the provisions of section 80L of the Income Tax Act, interest earned from the savings in these accounts are exempt from tax for up to Rs. 10,000 earned per year.

Long period of inactivity

In order to keep the account active you only need to carry out one transaction - a deposit or withdrawal in 3 financial years. The account will not be deemed inactive unless there are no transactions for 3 financial years.

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BB Expert