Post Office Savings Account : A post office savings account is similar to a savings bank account. Its salient features are as follows:
- The interest rate is 6 percent per annum.
- The interest is tax exempt.
- The amount of first deposit should be at least 20 for an ordinary account and 250 for a cheque book account.
- The maximum balance that can be held is 50,000 for a single account and 1,00,000 for a joint account.
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