• For calculation of share of an individual in joint account, each joint holder have equal share in each joint account.

• Nomination facility is available at the time of opening and also after opening of account.

• Account can be transferred from one post office to another.

• Any number of accounts can be opened in any post office subject to maximum investment limit by adding balance in all accounts.

• Account can be opened in the name of minor and a minor of 10 years and above age can open and operate the account.

• Joint account can be opened by two or three adults.

• All joint account holders have equal share in each joint account.

• Single account can be converted into Joint and Vice Versa.

• Minor after attaining majority has to apply for conversion of the account in his name.

• Maturity period is 5 years.

• The deposit can be prematurely en-cashed after one year but before 3 years at the discount of 2 per cent of the deposit and after 3 years at the discount of 1 per cent of the deposit. (Discount means deduction from the deposit)

Source: India Post