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Thursday, January 20, 2022

Rules in lieu of post office, now these people can open zero balance account

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To open a basic savings account in the post office, some rules have to be followed. Notification has also been issued by the Ministry of Finance in this regard.

Post Office

Till now, the facility of opening zero balance accounts was available in Jan Dhan accounts and limited banks only. But the government has decided to give the benefit of this facility to some special people by changing the rules of the Post Office. Under this, members registered as adult members in any welfare scheme of the government can take advantage of this facility.

A notification has also been issued by the Ministry of Finance in this regard. Accordingly, registered members can open Basic Savings Account (ie Zero Balance Account) in the post office. Apart from them, such minor’s guardian can also join it, although for this they will have to follow certain rules as well.

No more than one account

The benefit of this post office facility can be availed only when the applicant has only one account. Those who open more than one account will not be included in this. If you are taking any government benefits like pension, scholarship, LPG subsidy and do not want to keep minimum balance in your savings account, then you can open a zero-balance account in the post office.

Account related limits not fixed

The rules are set for everyone from depositing money in Basic Savings Bank Deposit Account (BSBDA) to withdrawals. Only a maximum of Rs 50,000 can be kept in it. Whereas a maximum of Rs 1 lakh can be deposited in a financial year. If you are withdrawing money in a month, then its limit should not be more than 10 thousand rupees. But the government has not fixed any such limits regarding the zero bank account of the post office.

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Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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