The gross small savings collection from Post Office Small Savings schemes in Assam recorded Rs 1617.52 crore in the Financial Year 2017-18 against the target of Rs 400 crore which was set for the state by the Ministry of Finance, Government of India during the last financial year.
Finance Minister Himanta Biswa Sarma in a tweet said that the entire development in small savings in Assam in last financial year was a progressive achievement of 404.38%.
Assam has shown constant upward trend in small savings in last few years. The outcome was result of constant efforts from concerned departments to raise savings from all section of people in post offices
In Assam, with a minimum amount of Rs 20, an individual (or a few individuals in case of joint account) can open his/her/their postal savings account.The minimum balance that needs to be maintained in a non-cheque facility account is Rs 50 and with cheque facility it is Rs 500. Interest earned from an account, up to Rs 10,000 per annum, is tax free.
For recurring deposit account, an account can be opened with a minimum investment of Rs 10 per month or any amount in multiples of Rs 5. There is no maximum limit. Nomination facility is available at the time of opening and also after opening of account.