Post Office Savings Bank Account Opening Form
Post Office Savings Bank Account can be opened by using the Post Office Savings Bank Account Opening Form PDF and this can be obtained from the nearest branch of the post office or it can be directly downloaded from the link given at the bottom of this page. Only one account can be opened by an individual as a single account.
Post Office Savings Bank Account is similar to a regular savings account. It is considered to be a highly secure instrument to deposit funds into and offers the option of full or partial liquidation of funds at very short notice in case the need arises. These accounts generally offer a guaranteed return on investment and are ideal for senior citizens and people who are looking to earn a regular income without exposure to risk.
Post Office Savings Bank Account Opening Form – Eligibility Criteria
- A single adult
- Two adults only (Joint A or Joint B)
- A guardian on behalf of a minor
- A guardian on behalf of a person of unsound mind
- A minor above 10 years in his own name
- Only one account can be opened by an individual as a single account
- Only one account can be opened in the name of minor/above 10 years of age (self)/person of unsound mind
Documents Required for Post Office Savings Bank Account
- ID Proof
- Electoral Photo Identity card
- Aadhaar
- Ration Card with photograph
- Passport
- Driving License
- Photo Identity Card issued by recognized, University/ Education Board/ /College/School, Identity card from Central/State Government or PSU.
- Address Proof
- Bank or Post Office Passbook/Statement with current address
- Passport
- Ration Card with current Address
- Electricity Bill
- Telephone Bill not more than three months old
- Salary Slip from a reputed Employer with current address,
- Aadhaar
- One (two in case of EDBO) recent Passport Size Photographs are to be given. In case of Joint Account, photograph of all joint holders should be given.
Post Office Saving Bank Account Benefits
- Cheque facility: Cheque facility is available and can be requested for existing accounts as well.
- ATM/Debit card: For those account holders who have maintained the prescribed minimum balance on the day of issuance of the debit card, CBS Post Offices can grant ATM/Debit cards.
- Minor Accounts: Post Office Savings Account is available to minors. For minors below the age of 10, an account can be opened in their name, but the parent or guardian will be given rights to operate the account on their behalf. Minors of 10 years and above can operate the account on their own.
- Portability: If you shift your residence or are not happy with the services of the post office branch or for any other reason, you can shift your Post Office Savings Account to a branch of your choice. Only one account can be opened in one post office.
- Nomination: Upon opening the account, the option to nominate someone is made available under these accounts. The account holder may, at any time, choose a beneficiary to receive the account’s proceeds in the event of their passing.
- Joint Holdings: Under the joint account facility, two or three adults may jointly hold an account. Both a single account and a joint account may be transformed.
- Tax Exemptions: Two or three adults are allowed to hold an account together under the joint account facility. A single account can be converted to a joint account and vice versa.
- Electronic Facilities: Customers can make withdrawals and deposits through any electronic mode in CBS Post offices.
- Long period for Inactivity: You simply need to complete one deposit or withdrawal transaction every three fiscal years to keep the account active. Until there are no transactions for three financial years, the account will not be considered dormant.
You can download the Post Office Saving Bank Account Opening Form PDF using the link given below.