InvestorQ : My relatives residing in my native town are opening a post office savings account. Is there any minimum number of transactions to be made to ensure the account stays active?
Diya Chitale made post

My relatives residing in my native town are opening a post office savings account. Is there any minimum number of transactions to be made to ensure the account stays active?

Answer
image
2 years ago
Follow

This is a very good decision your relatives are taking. The post office savings account is one of the most basic deposit accounts that has helped bring a significant part of rural India in the banking net.

Yes, one has to make at least one deposit or withdrawal every three financial years to ensure the post office savings account stays active.

0 Views