SB Account Latest amendments incorporated in POSB CBS Manual Volume Rule 13

Correction Slips for Savings Account and General in POSB(CBS) Manual

Rule 13 : Below this rule, Add below note

Note: From the date of receipt of SB Order 13/2019 dated 18.12.2019, Post Office Savings Account Scheme Rules 2019 shall apply to all Savings Accounts. Only below type of Savings Acount can be opened

(a) A Single adult;

(b) two adults jointly

(c) a guardian on behalf of a minor

(d) a guardian on behalf of a person of unsound mind

(e) a minor who has attained the age of ten years, in his own name

Rule 13(i)(a) :- add following text below this sub rule:_

Provided that in savings from the Account date opened of receipt with ofcheque sB order book 13/2019 or without dated cheque Lg.72.201-9, book. Arso, therejoint wi,account not be any can

one not required 1*l:o account An individual for by can opening two becan opened adurts of open savings onry..An one by anjoint Account individualas savin8s individuar'can shaaccount abesingle Rs.500/- open with account, any onty irr.rpu.tir" other on" adult singre of if individual. account. cheque Book Minimum e.ria"Jinat is required amount o

****

Let's see the athe above note to be added under the Rule Number 13 POSB CBS Manual

Rule 13 (i) (a) : Add following text below this sub Rule ( where to add> in POSB CBS Manual  shown in above image)

Provided that from the date of receipt of SB Order 13/2019 dated 18.12.2019, there will not be any difference in Savings Account opened with Cheque book or without cheque book. Also, joint account can be opened by two adults only. An individual can open only one single account. Minimum Amount required for opening of Savings Account shall be Rs.500/- irrespective of if Cheque book required or not. An Individual can open one joint account savings account with any other adult individual provided that only one account can be opened by an individual as a single account.

Rule 13(ii) : Add following text below this sub Rule

Provide that from the date of receipt of SB Order 13/2019 dated 18.12.2019 minor account through guardian can not opened if that minor has already opened a Savings account in any Post Office in his her own name

Rule 13 (iii): Replace this sub rule with below text

Savings Account opened on behalf of persons of unsound mind through Guardian

GSPR Latest Amendments dated 18.12.2019 communicated vide SB Order 12 / 2019