Post Office Saving Scheme

Sectiearning can be spent then save it by opening an account with 500 & create a future. The post office account offers 4% p.a.

Post Office Saving Scheme

One of the popular bank accounts in India, this account offers a tax exemption for interest upto 10000 rupees during financial year under the Income Tax Act80TTA. The accounts can be opened on a minimum balance and the maximum that could be retained is 500 rupees. Currently, the interest which is provided by the post office is 4% p.a. Minors from age of 10 can also avail the benefit of this account. While there is no maximum limit and only one can be opened by an individual.

Requirements

Minors with ten years of age.
A guardian is needed on behalf of the minor.
Someone who has an unsound mind.
A joint account can be opened by two or three adults.
Aadhar Card, Voter ID, & Driving License.
Passport Size Photo.
Electricity Bill, Ration car, or Bank Passbook.

Sectiearning can be spent then save it by opening an account with 500 & create a future. The post office account offers 4% p.a.

Post Office Saving Scheme

Requirements

Features

Securing money without tax up to 10000, for a better future.

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