POSB CBS MANUAL VOLUME Chapter 4 – Post Office Savings Account Scheme
47. Types of Savings Account 1.(i)
(b). 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 across all the post offices. Minimum amount required for opening of savings account shall be Rs. 500/- irrespective of if cheque book is required or not. One individual can open any number of joint savings accounts with any other adults, provided that only one joint account can be opened in the joint names of two individuals. A person can open any number of joint accounts with different partners at the same post office or other post office.
For example, if A, B, C and D are the depositors, A can open separate joint accounts with B, C & D respectively. In other words, A can open one separate Joint Account with B and another separate Joint Account with C and another Joint Account with D. B and C can also open a separate Joint Account and C & D can also have a separate Joint Account. Only one Joint Account in the name of A & B and A & C can be opened.
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