Zero Balance Savings Account can be opened in the post office on fulfilling certain conditions.
At present, banks are allowed to open Zero Balance Savings Accouunt. The Reserve Bank of India (RBI) has approved banks to open zero balance accounts under the PM Jan Dhan Yojana (PM Jan Dhan Yojana) and Basic Savings Bank Deposit Account.
There will be a ban on opening more than one zero balance savings account
According to the new rules, these people cannot open more than one such account. Government welfare deposits and other deposits are allowed in the Basic Savings Account of the post office. In this way, if you are taking any government benefits like pension, scholarship, LPG subsidy and do not want to keep minimum balance in your savings account, then you can open a zero-balance account in the post office. According to the current rules of the scheme, a minimum balance of 500 rupees is required to be kept in the post office savings account. If not done, then maintenance fees are deducted from the account.
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Currently, zero balance accounts are allowed to be opened in banks. The Reserve Bank of India (RBI) has approved banks to open zero balance accounts under the PM Jan Dhan Yojana (PM Jan Dhan Yojana) and Basic Savings Bank Deposit Account. However, a maximum of Rs 50,000 can only be kept in such bank accounts. A maximum of Rs 1 lakh can be deposited in such an account in a single financial year. Similarly, no more than 10 thousand rupees can be withdrawn from it (Withdrawal). At the same time, no more than four withdrawals can be done in a month. Such restrictions have not been mentioned in the government notification issued on the Post Office Savings Account.