Post Office Savings Account: New Rules in 2023

Post Office Savings Account (Amendment) Scheme, 2023

Stay updated about the recent changes in your Post Office Savings Account. The government has introduced three important amendments to enhance your savings experience.

1. Change in Number of Account Holders

You can now have up to three joint account holders in your Post Office Savings Account. Enjoy greater flexibility and accessibility with this expanded option.

2. Simplified Withdrawal Process

Withdrawals of not less than fifty rupees can now be made using Form-3. Just fill and sign the form, present your passbook, and access your funds hassle-free.

3. Enhanced Interest on Deposits

Enjoy an enhanced interest rate of 4% annually on amounts held in your account between the 10th day and the end of the month. Interest will be credited at the end of each year.

4. Account Closure and Interest

In the unfortunate event of the account holder's passing, interest will be disbursed at the end of the month preceding the account closure, as per the new scheme.

Stay Informed About Your Savings

These amendments are designed to make managing your Post Office Savings Account simpler and more rewarding. Stay tuned for further details and enjoy the benefits of the Post Office Savings Account (Amendment) Scheme, 2023!