1. Welcome To
Savings Bank in PO

2. TYPES OF SAVINGS SCHEMES
Saving Account (SB)
Recurring Deposit (RD)
Time Deposits ( 1/2/3/5 – TD)
Monthly Income Scheme ( MIS)
Public Provident Fund ( PPF)
Senior citizen savings scheme ( SCSS)
National Savings certificates ( NSC)

3. Small savings schemes Savings Accounts:--
Deposits and withdrawals permitted
every day
Rate of interest :-3.5% up to
With effect from rate of interest is 4% per annum.
Minimum Rs. 50/-
Maximum Single A/C:-
Joint A/C: NO LIMIT

4. Recurring Deposit:---
Monthly deposit of fixed Amount for 5 years
Min. of Rs. 10 and multiples of Rs.5/-
Maturity Value for Dn Rs 10/- for accounts opened on or after is Rs
8.4% interest w.e.f
Maximum limit :-No limit.
Pre Matured Closure is allowed after completion of 3 years

5. Time Deposit:-----
1/2/3/5 yr accounts
Only one deposit in an account
Minimum amount of deposit Rs.200/- or in multiples of Rs. 200/-
Maximum limit :-No limit.
Joint account is permissible
Pre Matured Closure is allowed.
Interest is compounded quarterly and paid annually

6. TD rate of interest 1 Year 7.7 8.2 2 Years 7.8 8.3 3 Years 8.0 8.4
Period of Deposit
Rate of interest (Quarterly compounded)
w.e.f
w.e.f
1 Year
7.7
8.2
2 Years
7.8
8.3
3 Years
8.0
8.4
5 Years
8.5

7. MIS accounts Period of the account -5 years
Rate of interest will be 8.2% per annum w.e.f , 8.5% w.e.f
Minimum Deposit amount is Rs.1500/-or multiples of Rs. 1500/-
Maximum.:-Single A/C-4.5 lacs.
Joint A/C—9.00 lacs.
No Bonus for MIS accounts.
Interest will be paid on the date of opening
Pre Matured Closure is allowed

8. PPF accounts opened with effect from 01-12-2011
Minimum amount of deposit is Rs.500/- in a financial year and in multiples of Rs.5/-
Maximum limit of subscription in a financial year shall be Rs
Rate of interest wef will be 8.6% per annum , 8.8% w.e.f
Period of account :-15 Years from the end of the year in which account is opened.
PPF accounts can be continued after maturity

9. Senior Citizen Savings scheme :
Opened by an adult age of 60 years and above.
Minimum Deposit is Rs.1000/- and in multiples of Rs.1000/-
Maximum Deposit : Rs.15 Lacs.
Rate of Interest:----9% up to
Rate of interest 9.3% w.e.f
Interest will be payable quarterly basis.

10. Change of interest rates
Schemes
Prior to
w.e.f
w.e.f SB
3.50
4.0 RD
7.50
8.0
8.4
MIS
8.00
8.2
8.5
SCSS
9.00
9.0
9.3
1 year TD
6.25
7.7
2 year TD
6.50
7.8
8.3
3 year TD
7.25
5 year TD
PPF
8.6
8.8
5-NSC
10- NSC -
8.7
8.9

11. Exercise 1.1 to 1.3

12. Savings schemes available at BOs
Saving Account (SB)
Below poverty line (BPL) account
Recurring Deposit (RD)
Time Deposits ( 1/2/3/5 – TD)

13. Process flow Opening of account Subsequent deposits Withdrawals
Closure
Transfer
Misc (issue of duplicate pass book)

14. Forms SB-3 card ( Application) SB-103 ( Pay in slip)
SB-7 ( withdrawal form)
SB-7(a) ( Closure form)
SB-10 (b) (Transfer application form)
SB-5 ( pass book)

15. Documents SB- Journal RD – Journal TD - Journal
Specimen Signature Book

16. What is Money Laundering?....
People want to legitimize the ill – gotten money through money laundering which is gained through criminal means such as Illegal arms sales, Smuggling, Prostitution rings, Embezzlement, Insider trading, Bribery, Computer frauds, Fake Currency Notes circulation, Drugs trafficking etc.
The money so generated is tainted and is in the nature of ‘dirty money’.
Processing of conversion of such proceeds of crime, the ‘dirty money’ to make it appear ‘Legitimate Money’ is Money Laundering

17. Actions which can be taken against persons involved in Money Laundering?
Attachment of property. The attached properties may be confiscated and disposed off.
Persons found guilty are punishable with imprisonment for a term which shall not be less than three years but may extend up to seven years and shall also liable to a fine up to Rs.5 lakhs.

18. What is PMLA and its Objective?
Prevention of Money Laundering Act
It has come into effect from 1st July 2005 amended on
It extends to whole India including Jammu & Kashmir.
To prevent money- laundering and to provide for confiscation of property derived from, or involved in, money – laundering.

19. Know Your Customer Purpose
To prevent money laundering and combating of financing in terrorism under PML Act-2002 and CFT
Deposits are classified under three categories
(1) Monthly average balance below Rs.50000/- It includes
(A) (i) All types of accounts opened in their name
(ii)Accounts opened in the name of minor(s) as guardian
(B) (i) All types of certificates in their name
(ii) Certificates purchased in the name of minor(s) as guardian

20. Know Your Customer
(2) Monthly average balance between Rs.50,000/- and Rs.10 lakhs
(A) (i) All types of accounts opened in their name
(ii)Accounts opened in the name of minor(s) as guardian
(B) (i) All types of certificates in their name
(ii) Certificates purchased in the name of minor(s) as guardian

21. Know Your Customer (3) Monthly average balance above Rs10 lakhs
(A) (i) All types of accounts opened in their name
(ii)Accounts opened in the name of minor(s) as guardian
(B) (i) All types of certificates in their name
(ii) Certificates purchased in the name of minor(s) as guardian

22. Documents for opening of A/c
Category
Documents required for opening A/C
Recent Photograph
Identity Proof
Address Proof
Source of Fund
Physical Verification of address
Category-1
Required
Copy of PAN card, Electoral photo ID, Ration Card, Passport, Driving License, ID from Central / State Govt. or PSU
Copy of the any of the documents i.e. Electoral Photo ID, Bank / PO Passbook, Current Electricity Bill, Current Telephone Bill or letter from any recognized authority
Not Required

23. Documents required for opening A/C Physical Verification of address
Documents for opening of A/c
Category
Documents required for opening A/C
Recent Photograph
Identity Proof
Address Proof
Source of Fund
Physical Verification of address
Category-2
Required
Copy of PAN card and copy of any one of the documents like Electoral photo ID, Ration Card, Passport, Driving License, ID from Central / State Govt. or PSU
Copy of the any of the documents i.e. Electoral Photo ID, Bank / PO Passbook, Current Electricity Bill, Current Telephone Bill
Not Required
PPT 5.1.1

24. Documents required for opening A/C Physical Verification of address
Documents for opening of A/c
Category
Documents required for opening A/C
Recent Photograph
Identity Proof
Address Proof
Source of Fund
Physical Verification of address
Category-3
Required
Copy of PAN card and copy of any one of the documents like Electoral photo ID, Ration Card, Passport, Driving License, ID from Central / State Govt. or PSU
Copy of the any of the documents i.e. Electoral Photo ID, Bank / PO Passbook, Current Electricity Bill, Current Telephone Bill
Copy of document proving source from which funds received
Address should be verified from State Govt/ Gram Panchayat / Postman of that area before opening A/c. Also followed in case of Transfer of A/c from other office
PPT 5.1.1

25. Opening Of Savings Bank Account…
If minor of 10 years age , he can open independently
Minimum deposit Rs. 50/- ordinary account & Rs.500/- for cheque account
Maximum deposit – No Limit
Rate of interest 3.5 % up to
WEF Rate of interest 4% per annum

26. Single account by an adult and by a Minor who is aged 10 years and above.
Joint account by two or three adults
In case of Joint A/c all the depositor to sign
In case of Minor a/c date of birth and maturity should be mentioned in application form.

27. Opening Of Savings Bank Account
Customer to present
filled Up Form I (SB-3 card )
Pay In Slip (SB 103)
2 specimen signature slip
Cash
Introducer details is compulsory in SB-3
Customer should furnish the details of witness in case of nomination

28. Opening Of Savings Bank Account
The following documents are to be submitted compulsorily -
3 copies of recent photograph
Identity Proof
Address Proof

29. Opening Of Savings Bank Account (continued)
For ID Proof any one of the following accepted
Electoral Photo Identity Card
Ration Card
Passport
Identity card from Central/State Govt or PSU
POSB Identity card
Post Office Identity Card

30. Opening Of Savings Bank Account (continued)
For Address Proof the following be accepted
Electoral Photo Identity Card
Bank or PO Passbook
Current Electricity Bill
Current Telephone Bill
Letter from any recognized authority

32. BLUE INK → BY CUSTOMER , RED INK → BY OFFICE32

33. BLUE INK → BY CUSTOMER , RED INK → BY OFFICE33

36. Role of BPM – Opening Of Savings Bank Account
Scrutiny of form 1 (SB-3) & pay in slip(SB-103).
Collect cash & Check w.r.t SB 103
Check eligibility for opening of account
See that all information furnished by the depositor in SB-3 is correct.

37. Role of BPM – Opening Of Savings Bank Account
Prepare following documents
Specimen Signature Book (S S Book)
Issue SB 26 receipt
Make deposit entry in BO SB journal showing account as new account in remark column along with SB 26 receipt number.

38. SB-26 Receipt Book
It is issued to a depositor who opens SB/RD/TD accounts at BO
50 receipts in triplicate in each book
1st copy given to depositor
2nd copy sent to Account office along with new account documents
3rd receipt will be office copy

39. SB-26 Receipt Book
On receipt of new a/c pass book from AO, it should be given to depositor by collecting back SB-26 receipt
It should be pasted along with office copy of SB-26
Acquittance for receipt of PB by depositor obtained on reverse of SB-26
Account number should be noted in SS book, SB journal
Date of delivery of PB is to be noted on SB journal

45. Opening of BPL account
Normal procedure for opening of Savings Bank account should be followed
In addition to the ID and Address proof prescribed in the KYC norms, a self attested (attested by a Gazetted Officer/Sarpanch/Postmaster in case of illiterate individuals) copy of any document issued by the State/District Authority identifying the individual as member of the BPL household should be taken and attached with SB-3.

46. Opening of BPL account
Documentary proof of BPL household should be attached with SB-3 and a remark in red ink as “BPL” should be recorded in SS Book.
Remark “BPL” should be recorded in the SB-26, BOSB Journal .

47. Exercise 1.4 & 1.5

48. Subsequent Deposit
Depositor has to fill up the pay in slip (SB-103) properly.
Depositor should hand over the cash, SB-103 & passbook to BPM.
Pass Book & counterfoil of SB-103 should be handed over to the depositor after completion of the transaction.

49. Minimum amount of deposit Rs. 5/-
Mode of deposits – Cash, DD, Cheque, Refund Vouchers, Dividend warrant, Interest warrant, Maturity Instrument, Crossed IPO.
A/c becomes silent if no transaction made during last three financial years

50. Role of BPM (Subsequent Deposit)
Examine passbook and pay in slip (SB-103).
Check the cash tendered with SB-103.
Make entry in following record
Passbook
BO SB journal
Return passbook & counter foil to depositor

51. SAVINGS BANK --- Subsequent Deposits By Cheque
Date of deposit is the date of clearance of cheque
If mode of deposit is cheque, then
The Cheque should be drawn in favor of depositor or postmaster
For out station cheques clearing charges collected at following rate
up to Rs Rs. 30/-
above Rs and Part - Rs. 3/-
No clearing charges for local cheques

52. Exercise 1.6 (On subsequent deposit)

53. Role of BPM -SB WITHDRAWAL
Examine passbook & SB-7 form
Verify balance with reference to SB journal
Verify/compare the signature on SB-7 with SS book
Sign below the signature of depositor in SB-7
Make entry in following records
Passbook
BO SB journal noting the Date of Last Transaction (DLT) and Date of Next Transaction (DNT) in the previous transaction

54. SB WITHDRAWAL– ROLE OF BPM
Make entry in SB-7 in warrant portion if amount is 5000/ or less than Rs. 5000
Effect the payment & return passbook
If amount is more than Issue SB-28 receipt
Forward PB, SB-7 to the A.O. duly entered in BODA
On receipt of passed warrant of payment from A.O. effect withdrawal by obtaining acquittance of depositor. Collect the SB-28 receipt

56. Exercise 1.7 Exercise on Withdrawal

57. Receipt For Depositor’s Passbook.(SB-28)
Whenever the passbook is taken by Post Office for
any purpose and not returned to the depositor
immediately, SB-28 is issued.
Prepared by BPM

58. BPM should note the following details
Purpose of collecting the pass book,
A/C Number, Name of depositor, Balance,
Probable date of receipt of PB from AO on the back of depositor’s copy of SB-28,
When passbook is returned to depositor, acquittance to be taken in depositor’s copy of SB-28 & it is to be pasted with the office copy.

60. Exercise 1.8 – SB-28

61. Role of BPM - Closure of the Account
BPM should collect application in SB-7A with pass book
He should check application with pass book and SB Journal
Compare signature with Specimen Signature book
Impress date stamp on application side
Issue receipt in SB-28

62. Closure of the Account
Forward passbook and application to account office
Passbook and passed warrant of payment are received from AO

63. Closure of the account When depositor calls at PO-
-enter withdrawal for full amount in pass book and BO SB journal
-note BAT as NIL
Note remarks ‘account closed’ in red ink in following records
below last entry in pass book and remarks column of BO SB journal
first and all unused pages of pass book
Specimen Signature book

64. Closure of the account
Pay amount to depositor after getting Acquittance in SB-7A
Get back SB-28 and file with office copy
Deliver closed passbook to depositor (Acquittance for closed passbook in SB-7A)
Impress BO date stamp on the SB-7A near AO/HO date stamp

66. Lapsed warrant of payment
Warrant of payment remaining unpaid after the expiry of 7 days in the Branch office from the date of receipt from AO is treated as lapsed warrant of payment
It should be returned to AO
If 7th day fall on Sunday or holiday, it should be paid on the following working day. If it is not paid on that day also, then it should be returned to AO

67. Preparation of SB Journal
Entry of opening of account/transaction made in existing account should be made in the BO SB Journal.
The column of account number should be left blank in case of new a/cs.
The new account number is to be noted only after the same is allotted by the AO.
PR number should be noted in the Remarks column in RED INK for new a/c.

68. Preparation of SB Journal
Note the BAT
Note DLT
Initial the appropriate column
The DNT should be entered when transaction happens in the account subsequently

70. Exercise 1.9

71. SB Account Transfer
A/C can be transferred from one PO to another without any cost/fee.
Depositor must fill up the SB-10(b) form & furnish all details properly.
Depositor must handover SB-10(b) form & passbook to BPM.
BPM should forward application to AO for further action

72. Transfer Of SB Account Procedure
Depositor to submit application with passbook
Form SB-10(b) not obligatory
Signature of depositor to tally-otherwise to be identified

73. Transfer Of SB Account– Some conditions
Transfer o SB account is not permissible after death of depositor
Silent accounts can not be transferred before revival
For transfer of Joint Account-all depositors to sign on application

74. Exercise 1.10

75. Issue of duplicate pass book
Issued by departmental SOs & HOs
Application in the prescribed form
Fee Rs.10 (postage stamp)
Depositor to furnish details
BPM to satisfy about identity of depositor

76. Issue of duplicate pass book - Role of BPM
BPM may receive application
Sign the application for identity of depositor in relevant column
Forward application to AO entered in BODA
Deliver duplicate PB on receipt from AO

77. Exercise 1.11

78. Thank You