Small Saving Schemes - Post Office Savings Account

"Interest Receivd: 4.0%/ Annum How To Open An Account?: The account can be opened by cash only Minimum Balance: Minimum balance to be maintained in a non-Cheque facility account is INR 50/- Facilities: -Cheque facility available if an account is opened with INR 500/- and for this purpose minimum balance of INR 500/-in an account is to be maintained -Cheque facility can be taken in an existing account also Interest earned is Tax Free up to INR 10,000/- per year from the financial year 2012-13 Account Opening: -Nomination facility is available at the time of opening and also after the opening of an account -The account can be transferred from one post office to another -One account can be opened in one post office -The account can be opened in the name of the minor and a minor of 10 years and above age can open and operate the account -The joint account can be opened by two or three adults -At least one transaction of deposit or withdrawal in three financial years is necessary to keep the account active -The single account can be converted into Joint and Vice Versa -Minor after attaining majority has to apply for conversion of the account in his name Deposits and Withdrawls: Deposits and withdrawals can be done through any electronic mode in CBS Post offices. ATM facility is available"