The Post Office Savings Account is a deposit scheme provided by post offices across the country. The account, which provides a fixed rate of interest on the deposited balance, is beneficial for those who require fixed, steady returns.

The steps to open a Post Office Savings Account are as follows:

1. Visit the official website of India Post ( and download the application form. 

2. Fill the application form and visit the nearest post office, with the filled form and relevant documents. The documents include cheque book, ATM card and AADHAR card, among others.

3. Pay the deposit amount, the minimum for which is set at Rs 500 at the time of opening.

4. Every subsequent deposit amount must not be less than Rs 100.

According to the official India Post website, interest is payable at the rate of 4% per annum on individual/joint accounts.

It should be noted that nomination is mandatory at the time of opening of the account and conversion from a single to joint account (and vice versa) is not permitted.

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