Post Office Savings Account (POSA)

iAbout This Scheme

The Post Office Savings Account is a basic savings deposit account operated by India Post under the National Small Savings Fund. It offers 4% per annum interest on individual and joint accounts with a minimum balance of ₹500. It is one of the most accessible savings instruments available across 1.55 lakh post offices nationwide.

🎁Key Benefits

• 4% interest per annum on deposits
• Minimum balance of ₹500 required
• Up to ₹10,000 interest per year is tax-exempt under Section 10(15)
• Nomination facility available
• Cheque book and ATM/debit card available at select offices
• No TDS on interest earned

✅Eligibility Criteria

• 1
  Any resident Indian individual
• 2
  Joint accounts allowed (up to 3 adults)
• 3
  Minor accounts can be opened by guardian

📝How to Apply

❓Frequently Asked Questions