Opening of Account:
i)A separate account shall be opened in a post office by every depositor for each year.
ii) In the case of depositors being individuals, and account may be opened by:
a. a single adult, or
b. Two adults jointly, the amount due on the account being payable, or
iiii) to both jointly or survivor, or
iv) to either of them or survivor,
v) a guardian, on behalf of a minor

Deposits:
i.No account shall be opened with deposit of less than Rs 100.
ii. All deposits shall be made in multiples of Rs 100.
iii)The deposits made by a depositor in the National Savings Scheme, 1987,from 15 January 2000 to 01 March 2001 will attract an interests of 10.5% p.a.

Interest on Deposits:
i.Interest at the rate of 9 per cent, per annum shall be allowed for a calendar month on the lowest balance at credit of an account between the close of the 10th day and the end of the month and such interest shall be calculated and credited in the account at the end of each year.

ii. Where the interest contains part of a rupee and if such a part is 50 paise or more, it shall be increased to one complete rupee and if such part is less than 50 paise, it shall be ignored.

Withdrawal:
i.) The interest credited in the account may be withdrawn at any time at the option of the depositor.
ii.) The deposits may be withdrawn after the expiry of four years from the end of the year in which the account was opened, at the option of the depositor.
iii.) The deposits or interest amount not withdrawn after it becomes due, will continue to earn interest at the rate of 9 per cent, per annum upto the date of its withdrawal.

Pass Book:
i.On opening an account, the depositor, shall be given a pass-book bearing the number of his account, his name, address and entry of his first deposit duly initialed by an authorised official of the post office.
ii. The pass-book shall ordinarily be presented for all deposits and withdrawals.

Confirmation of Balance:
The depositor shall present his pass-book as soon as possible after the 31st day of March every year to the post pffice where his account stands, for addition of interest and confirmation of balance amount at his credit.

Closure of Account:
Closure of the account will be permitted on expiry of 4 years from the end of the year in which the account was opened; provided that, in the event of the death of depositor, the account may be closed at any time after his death, and interest at the rate of 9 per cent, per annum will be admissible in such cases also upto the date of withdrawal of the amount.

Power to relax:
Where the Central Government is satisfied that the operation of any of the provisions of these rules causes hardships to the depositor, it may, by order, for reasons to be recorded in writing, relax the requirements of that provision in a manner not inconsistent with the provisions of the Act.