Rule 4 - Opening of accounts - Post Office (Monthly Income Account) Rules, 1987

Opening of accounts 4. A depositor may operate more than one account under these rules subject to the condition that deposits in all accounts taken together shall not exceed rupees four lakh fifty thousand in case of single account and rupees nine lakhs in case of joint account. " Note : For the purpose of maximum balance, the depositor's share in the balance of a joint account shall be taken as one-half or one-third of such balance according to the account is held by two adults or three adults."