Minimum Balance in Post Office Savings Account
Now you need to maintain minimum balance in your post office savings account too. Read the details here.
Until now, most terms applicable to a savings account with a bank were applicable to the Post Office savings account except minimum balance requirements. However, from 11th December you will have to maintain a minimum balance of Rs. 500 in your Post Office savings account also.
No withdrawals will be permitted if the resulting balance will be less than Rs. 500 after the transaction. Failure to meet the minimum balance requirements will attract a penalty of Rs. 100 plus GST as Account Maintenance Fee. The account shall be automatically closed if the account balance becomes zero.