MODE OF DEPOSITS IN SAVINGS SCHEMES
(1). Deposits in an account may be made in any of the following forms, namely: -
(i) in cash in Indian rupees; or
(ii) by means of a crossed Cheque, a Demand Draft or a Pay Order drawn in favour of the authorised Officer of the Accounts office; or
(iii) by submitting a signed withdrawal Form in respect of a savings account standing in the same Office; or
(iv) by electronic transfer permitted by the Reserve Bank of India in respect of similar transactions in commercial banks.
(2). In case of deposit by means of a cheque or Demand Draft or Pay Order, the date of realisation of the cheque shall be the date of deposit.
(3). Each deposit except that made through online shall be accompanied by a duly filled in deposit form as may be prescribed by the Government Savings Bank and the counterfoil of the deposit form shall be returned to the depositor duly receipted by the Post office.
(4). Where the deposit is made by means of an outstation cheque or instrument, collection charges, as applicable, shall be payable by the Depositor on actual basis, either by debit to the Savings account of the depositor or in cash against a proper receipt.
Note: In case of an account standing at any post office with CBS platform deposit may be made at any other post office with CBS platform within the limits prescribed and by paying such fee if any applicable.
NOTE :
As per SB order No. 1/2025 and 3/2026 if the POSB account is provided with e-KYC, deposits without limit can be made without any pay in slip if made through Aadhar authentication. Similarly, without collecting withdrawal vouchers (SB-7) withdrawals upto Rs.20000/- can be made through Aadhar authentication.
Please click here for SB Order No. 1/2025 and SB Order No. 3/2026
