Types of Savings Accounts and matters connected therewith:-
The types of accounts, the persons by whom such accounts may be opened and operated upon, maximum amount that can be credited to the account and other matters connected therewith shall be as specified in the Table below, namely:-

Type of Account (1)	Who may open (2)	Maximum balance Excluding interest for the current year (3)	Number of Accounts that can be opened (4)
1.Single Account	a) A person who has attained the age of majority and who is of sound mind (hereinafter referred to as an adult). b) A minor who has attained the age of 10 years. c) A guardian on behalf of a minor. d) i) A guardian of a person of unsound mind. ii) The Superintendent of the Mental Hospital where a person of unsound mind is confined. e) An authority controlling a provident fund, Superannuation Fund or Gratuity Fund on behalf of its individual members.	Rs.50,000 in an account or in all the accounts taken together, if a depositor has more than one account. Rs.50,000 Rs.50,000 inclusive of the balance in the account, if any, opened by the minor himself. Rs.50,000 Rs.50,000 Without limit	Any number of accounts but not more than one account at one Post Office Savings Bank One The minor. One on behalf of each person of unsound mind. One on behalf of each person of unsound mind. One on behalf of each member.
2.Joint Account. i) A type that is to say, payable to the depositors jointly or to two survivors jointly or to the sole survivor. ii) B-Type, that is to say, payable to any one of the depositors or the either of two survivors or to the sole survivor.	Two or three adults ii) Two or three adults	Rs,1,00,000 in an account. If the depositors have more than one account (single, pension or joint), the balances or shares of balances in all such accounts taken together should not exceed Rs.50,000 for each of the depositors. Rs.1,00,000 in an account, if the depositors have more than one account (single, pension or joint), the balances or shares of balances in all such accounts taken together should not exceed Rs.50,000 for each of the depositors.	Any number of accounts but not more than one joint account at one Post Office Savings Bank Any number of accounts but not more than one joint account at one Post Office Savings Bank.
3.Pension Account	A pensioner, being a retired Railway servant or a servant of the Posts and Telegraphs Department.	Rs.50,000 inclusive of balances in single accounts, if any, and shares of balances in joint accounts, if any, opened by the depositor.	One.

Deposit and withdrawals in an account:-
i) No account shall be opened with a deposit of less than twenty rupees provided
that the first deposit at the time of opening an account shall be made in cash only.
ii) No subsequent deposit shall be of sum less than five rupees.
iii) No withdrawal shall be for a sum less than five rupees.
iv) No withdrawal shall be permitted which has the effect of reducing the balance to less than twenty rupees in an account not having cheque facility and two hundred and fifty rupees in an account in which cheque facility has been provided) Not more than one withdrawal in a day shall be allowed from an account standing at an Extra Departmental Sub Savings Bank or Branch Savings Bank.
vi) Withdrawal of not less than five rupees may be made by cheque at any Head Savings Bank or Sub Savings Bank, authorised in this behalf, subject to the next integer of five paise.

Interest on deposits in an account:-
i) Interest at the rate, notified by the Central Government in the official gazette from time to time, shall be allowed for calendar month on the lowest balance at credit of an account between the close of the tenth day and end of the month and such interest shall be calculated and credited in the account at the end of each year.

ii)Interest shall be allowed only on sums of complete rupees and shall be rounded off to nearest multiple of five paise and for this purpose any amount of 2.5 paise or more shall be treated as five paise and any amount less than 2.5 paise shall be ignored.

iii) No interest shall be allowed on an account for any month in which the balance at credit is below twenty rupees at any time between the tenth and last date of the month.

iv) No interest shall be allowed on an account for any year in which the amount of interest for the year is less than one rupee.

v) No interest shall be allowed on an account opened by any Provident Fund, Superannuition Fund or Gratuity Fund in the name of a member, after the expiry of six months from the first day of the month in which the order, or as the case may be, the authorisation for final withdrawal of the balance at credit is issued by the authority controlling the fund.

vii) No interest shall be allowed on a security deposit account after the expiry of three months from the first day of the month in which the amount secured has been withdrawn by the pledgee, or the pledgee has authorised repayment of such amount to the pledger, as the case may be.

viii) If an account is closed in the course of a year, interest shall be allowed upto the end of the month proceeding the month in which the account is closed.
a) In the event of death of a depositor, the interest in his account shall be allowed only till the end of the month preceding the month in which notice is issued to the person or persons recognised by the Post Office Savings Bank as entitled to receive the balance in the said account.
b) Interest for any subsequent period shall be allowed only if the balance in the account of the deceased or the share therein which the claimant is entitled together with the balances or share of balances, if any, in other savings accounts held by him, does not exceed fifty thousand rupees and the claimant gives a declaration to the Post Office Savings Bank

Confirmation of Balance:
The depositor shall present his pass book as soon as possible after the 31st day of March to the Post Office Savings Bank where his account stands, for addition of interest and confirmation of balance at credit in the account and if the pass book is not so presented by the depositor or collected by him from the Post Office Savings Bank within three months of its presentation it may entail acceptance by the depositor of balance as appearing in the books of the Post Office Savings Bank as final.

Final withdrawal on closure:
i) Final withdrawal on closure of an account shall be allowed at a Sub-Savings Bank, Extra Departmental Sub-Savings Bank or Branch Savings bank, only after obtaining the sanction of the relevant Head Savings Bank.
ii) When payment of interest is not involved, final withdrawal on closure of an account may be allowed by a Sub-Savings Bank without obtaining the prior sanction of the Head Savings Bank.

Supply of Savings bank Ledger copy:
A depositor may, on payment of a fee of two rupees for every thirty entries or part thereof, obtain copy of his savings account as appearing in the ledger of the Post Office Savings bank for any period for which such ledger is available.