Updated Dec 10, 2020 | 07:05 IST
If the minimum balance is not maintained, a charge of Rs 100 will be deducted and if the balance becomes nil then the account shall be closed, according to India Post Official website. Maintain Rs 500 minimum balance in Post Office Savings Account or face penalty from today | Photo Credit: BCCL
If you have a Post Office Savings Bank (POSB) account of India Post, you will need to maintain at least Rs 500 minimum balance, effective December 11, 2020. A failure to comply with the same will attract a penalty of Rs 100 as maintenance charges, India Post said in a notification earlier.