Single

By any adult
Minor of 10 years of age or more
Guardian on behalf of minor.
Joint-
Two adults jointly can open Account.
Joint A
Joint B

The depositor can open TD account through SAS
agents also.
In such cases, on the top of the SB-3, a remark,
Through authorized agent..(Name and
authority number).
The agent shall note his authority number and
number of his copy of the receipt at the top of the
pay-in-slip.
The application form duly signed by the depositor,
pay-in-slip, agents receipt book containing duplicate
copy or counter foil of the receipt and money will be
presented by the agent at the post office for opening
an account in the name of the depositor.

These agents will be paid commission at the
rate of 0.5 % of deposits in TD Deposit
Accounts.
The particulars of post offices with which the
agent is authorized to transact business are
recorded in the Certificate of Authority of the
agent.
The agent can deposit money at these post
offices and claim commission at source
(i) TD account can be pledged as security in the
name of :-
(a) the President of India or Governor of a State in
his official capacity;
(b) the Reserve Bank of India or a scheduled bank or
a co-operative society including a
cooperative bank;
(c) a corporation or a Government company; or
(d) a local authority.
(ii) Pledging of account as security shall be
permitted only in respect of the whole account and
not for a part of it.
(iii) Pledging of an account opened on behalf of a minor
shall be permitted only if his guardian certifies that the
minor is alive and the transfer is for the benefit of the
minor.
(iv) When an account is pledged as security, the following
endorsement below the entry of the deposit in the
passbook in the page where the name and address of the
depositor are written namely:-
Transferred as security to.....................
(v) On release of security, the account can be re-
transferred on the written authority of the pledgee with
the previous sanction of the Postmaster and when such
re-transfer is made, the Post Office shall make the
following endorsement in the passbook :-
Re-transferred as security to.....................
Where a deposit in an account has become due for
repayment, the depositor may re-deposit the amount
in a new account to be opened, tendering his
application for withdrawal of the original deposit in
the prescribed form duly discharged.

Where the redeposit is made during the period, the
date of re-deposit shall be same as the date of
maturity of the original deposit.

Period elapsed
between the date of
maturity and the
date of re-deposit

Minimum period of
re-deposit

6 months or less 1 year
More than 6 months
and up to 12 months
2 Years
More than 12 months
and upto 18 months
3 Years
More than 18 months 5 Years

Where repayment of the deposit has become due but
has not been made, PMI allowed subject to the
following conditions, namely:-
(a) The interest shall be simple and shall be
calculated at the rate applicable on savings accounts
from time to time to.
(b) The interest is allowed for the completed months
from the date of maturity to date of payment.
(c) The interest shall be paid to the depositor in lump
sum at the time of repayment of amount due.
(d) For the purpose of payment of interest, any part
of the period which is less than one month shall be
ignored.
A depositor may, on payment of a fee of
two rupees for every thirty entries or part
thereof, obtain copy of his TD account as
appearing in the ledger of the Post Office
Savings Bank for any period for which
such ledger is available.
A depositor can change his name i.e on
adoption or otherwise or in case of female
depositor on marriage after following the
prescribed procedure.
Subject to provisions of relevant rules
and on a written application:-
A single account in the name of an adult
can be converted into a joint account in
the name of the original depositor and
another adult and a joint account in the
name of two depositors can be converted
into single account.
In case of minor attaining majority, the
minor account opened through guardian
will be converted into individual account
in the name of minor on submitting
revised (SB-3) account opening form.
The signature of Minor become major has
to be attested by the guardian on revised
SB-3 and after conversion, he can operate
account with his signatures.
In case date of maturity/payment of
interest falls on Sunday or Holiday, the
payment shall be deemed to be due on the
business day immediately preceding the
date of maturity/payment of annual
interest.
A certificate of balance in TD account and
certificate of annual interest paid to the
depositors may be issued to them on
request by the post offices without
levying any fee for the purpose of filing
Income Tax Returns.
Deposits in 5 Years TD account qualifies
for Income Tax exemption under Section
80-C if Income Tax Act.
Payment if becomes Rs.20,000/- or more
should not be made by cash.
It should either be by crossed cheque or
credit into post office savings account
standing or newly opened in the same
post office.
Thank You