What is Post Office Savings Account?

• Under this scheme, you can open your account only by cash. The minimum amount required to open an account is Rs 20.
  
  
• This scheme offers an interest rate of 4% per annum, both on individual and joint accounts. Compounded annually.
  
  
• You can transfer your post office savings account from one post office in India to another.
  
  
• A savings account may either be individual or joint account. The maximum number of
  members of a joint account can be three adults.
  
  
• You have to make at least one monetary transaction every three financial years, be it a deposit or a withdrawal.
• This scheme allows you to avail ATM facility.
• Savings calculator can be used to find the returns in this scheme

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