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Post office schemes: Here are the minimum balance limits for post office savings schemes

There are many options for saving or investing in the post office. However, you have to maintain a minimum balance in the account

  • Last Updated : May 17, 2024, 14:11 IST

Post office savings account: The minimum balance a post office savings account holder must maintain is Rs 500. An account maintenance fee of Rs 50 is charged if the balance falls below Rs 500 and the difference is not deposited before the end of the financial year.
National Savings Recurring Deposit Account(RD): You must maintain a minimum balance of Rs 100 in any case if you have opened a National Savings Recurring Deposit Account at a post office.
National Savings Monthly Income Account(MIS): Post Office Monthly Income Scheme is one such scheme where you invest a certain amount and earn a fixed interest every month. Account can be opened with minimum of Rs. 1000 and in multiple of Rs. 100. And minimum balance needed is Rs 100.
National Savings Time Deposit Account(TD): The minimum amount required to open a National Savings Time Deposit Account is Rs.1,000. Individuals can deposit in multiples of Rs.100 thereof. While minimum account balance has to be Rs 100.
Senior Citizens Savings Scheme Account(SCSS): It is a government-backed scheme. The current interest rate applicable to SCSS is 7.4%. The minimum balance needed to maintain SCSS account is Rs 1000.
Public Provident Fund Account(PPF): The minimum amount required to open a PPF account is just ₹100. But, to keep one’s PPF account active, one needs to deposit at least ₹500 in one financial year.
Sukanya Samriddhi Account(SSA): The minimum amount to be maintained in the account at any given point is Rs 250, failing which a penalty of Rs 50 will be charged for every financial year.
National Savings Certificate(NSC):  NSC is a fixed income instrument that falls under the central government’s Small Savings Scheme. NSC investments offer flexibility to its investors due to the low minimum investment requirement of Rs. 100 and there is no maximum limit for investing in it.
Kisan Vikas Patra(KVP): The scheme is a Government of India initiative, where the minimum amount that must be deposited is Rs. 1,000. There is no upper limit on the amount that can be invested in the scheme.
Published: July 27, 2021, 18:18 IST

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