The four saving schemes operated through the post office are as follow:

(i) Post Office Savings Bank Account: It is a type of account in which we can deposit our savings in post offices and withdraw it whenever required. A minimum amount of Rupees Fifty is required to open the account and we can deposit a maximum of Rupees one lac in our account in the case of an individual. Post office pays interest on our deposits, which is totally exempted from income tax. 

(ii) 5-Year Post Office Recurring Deposit Scheme: A Recurring Deposit account can be opened with a minimum amount of Rs 10/ with is a multiple of Rs.5/- without any maximum limit. The deposit is to be made every month for a period of 5 years. After one year, 50% of the deposit can be withdrawn only once during the five year period. On maturity INR 10/ account fetches INR 728.90. This account can be continued for another 5 years on year to year basis. 

(iii) Post Office Time Deposit Account: Any individual can open this account with a minimum balance of Rs. 200/-, without any maximum limit. The depositor makes deposit in lump sum and that amount matures after the expiry of a fixed period like one, two, three or five years. Interest on this account is given on annual basis but computed quarterly. This account can also be opened by a Trust. 

(iv) Post Office Monthly Income Scheme: Under this scheme a fixed sum of money is deposited for six-years and the depositors get the interest on it every month. A minimum amount of Rs.1,500/- and maximum of Rs.4.5 lakh in individual account and Rs.9 lakh in case of joint account can be deposited. In addition to interest the deposit amount also earns a bonus at the rate of 5% which is payable on maturity.