Post office savings account holders are requested to maintain Rs.500/- as minimum balance in their savings account before 11/12/2020, to avoid penalty.

Minimum balance required to be maintained in post office savings account has been raised from Rs.50/- to Rs.500/-, for which orders have been issued by Central Government during December 2019.   If a post office savings account holder fails to maintain Rs.500/- (minimum balance), then the post office will deduct Rs.100/- as penalty from the SB account on the last working day of every financial year.

     This is stated in a press release issued by the Senior Superintendent of Post Office, Chennai City South Division, Chennai 600017.

 

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