Minimum balance of Rs. 500 to be kept in Post Office Savings Account.
Posted on: 25/Dec/2019 12:00:38 PM
Generally, as regards the banks, a minimum balance amount has to be kept in the savings account depending on the type of the savings account up to Rs. 5000. However, until now, the Post Office Savings Account needed only a minimum balance of Rs. 50.
As such, several lakhs of customers have opened Post Office Savings Accounts and maintain them.
In this situation, the central government department of Posts has ordered that henceforth, a minimum balance of Rs. 500 must be kept in the Post Office Savings Accounts as well.
