Minimum Rs. 500/- balance should be maintained in Post office Saving Account from 11.12.2020

The Postal Directorate has issued a letter to all the Head of Circle regarding message dissemination related to the Post office Saving Back account minimum prescribed limit.

As you know, the minimum balance for a Post Office Saving Account (both cheque and non-cheque) is fixed at Rs. 500/- and in case of non-maintenance of the prescribed minimum balance a maintenance fee of Rs. 100/- plus taxes will be charged from in such accounts and if the balance of the account becomes Nil after deducting the maintenance fee the Post Office Saving Account will be automatically treated as closed. This is applicable for silent accounts also.

The Postal Directorate has been directed to all HOC that SMSs are being sent to these account holders having registered mobile numbers informing them to do a deposit transaction in such account and maintain the minimum prescribed balance to avoid paying the maintenance fee of Rs. 100/- plus taxes and closure of their Post Office Saving Accounts. 

Circles are also requested to disseminate the following message to POSB customers in their jurisdiction using different mediums including display on Circle's website both in English and the local language for the benefit of POSB customers: -

Dear Customer, All Post Office Savings Account holders who are having Rs. 500 or less as balance in their account are hereby requested to raise their balance to Rs. 500 or more on or before 11.12.2020 to keep it active and avoid maintenance fee of Rs.100/- plus taxes.

Click here to download the PDF file of the above orders.