2. Post Office Savings Accounts:
This account can be opened by a single adult or two-three adults jointly or also by group accounts by provident fund, superannuation fund or gratuity fund or by an employee, contractor, or agent of a government company or of a university for depositing security amounts. This account can be opened with a minimum of Rs.20 to maximum of Rs.1 lakh for single holders and Rs.2 lakhs for joint holders. There is no lock-in / maturity period prescribed. Any amount subject to keeping a minimum balance of Rs.50 can be withdrawn and the present interest rate is 3.5 percent per annum for general public.
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