PO Rule Lookup
Paraphrased common post office rules: leave, pay, conduct, SB orders, PLI, delivery and GDS.
A Post Office Savings Account must keep the prescribed minimum balance (currently Rs 500 for a cheque facility). Accounts with no transaction for three financial years turn silent.
Ref: POSB (CBS) Manual / SB Orders
Nomination may be registered, varied or cancelled at any time while the account is active. Nomination at opening greatly simplifies settlement of claims after death.
Ref: POSB Rules / GSPR 2018
A guardian may open and operate an account for a minor. On attaining majority the account holder operates it independently after fresh KYC and signatures.
Ref: POSB (CBS) Manual
Post office savings accounts can be transferred free of charge between post offices on application; under CBS most transactions are anyway possible at any office.
Ref: POSB (CBS) Manual
Proof of identity and address (e.g. Aadhaar, PAN) is required at account opening, and periodic re-KYC applies to higher-risk categories of accounts.
Ref: SB Orders on KYC / PMLA rules
Interest beyond the Income-Tax threshold (Rs 10,000 generally, higher for senior citizens) attracts TDS. Eligible depositors may file Form 15G/15H to avoid deduction.
Ref: Income Tax Act s.194A / SB Orders