Frequently Asked Question - Savings Bank Account -1

Question Answer What is the current rate of interest on savings accounts ?    3.5 % How many single Savings accounts may be opened by...

Question	Answer
What is the current rate of interest on savings accounts ?	3.5 %
How many single Savings accounts may be opened by an adult in his own name in any post office ?	Only Once
How many adults may open a joint savings account?	2 or 3
Where is the minimum age for opening a single savings account by a minor  himself in his name	10 year
How many savings accounts can be opened by a minor in his  own name ?	Only once
In which form the amount for opening a savings account can be presented whether by a cash or cheque or demand draft	By  Cash
What is the fee for making nomination in a  savings account first time ?	No Fee
What is the fee for getting the nomination altered in a savings account	One Rupee
In what manner the fee for getting the  nomination cancelled in a savings account to be  paid ?	A fee of Rs 1/-  ( This will be paid in the shape of Postage Stamp and affixed on the application form)
How many times withdrawal can be made from a savings account standing at a BO in a day ?	Only Once
How many time withdrawal can be made from a savings account standing at HO or SO	Any number of times
Up to what amount payment order for withdrawal from savings account  may  be sanctioned by   a Branch Postmaster ?	Rs  5000/-
What minimum balance should remain in a savings account without cheque book after withdrawal	Rs 50 /-
What minimum balance should remain  in a savings account with cheque book facility after withdrawal ?	Rs  500/-
Whether nomination facility  is available in savings account opened in the name of a minor by his guardian	No
Whether a minor can appoint a messenger for making withdrawal from the savings account opened  by him in his /her name ?	No, minor has to attend the post office personally to withdraw money from his/her account

Link :  Frequently Asked Question - Savings Bank Account -1