SCSS-Maturity

SCSS-Maturity
    • The deposit made at the time of opening of account shall be paid by the concerned deposit office after the expiry of five years from the date of opening of the account on production of the passbook accompanied by a written application (withdrawal form) in Form E.
    • In case the depositor does not close the account on maturity and also does not extend the account, the account will be treated as matured and the depositor will be entitled to interest at the rate applicable to the deposits under post office savings account during the post maturity period.
    • In case of death of the depositor before maturity the account shall be closed and deposit refunded on application in Form F along with interest to the nominee or legal heirs in case the nominee has also expired or nomination was not made as per rules.
    • If the total amount including interest payable is upto rupees one lakh it may be paid to the legal heirs on production of

1. letter of indemnity
2. an affidavit
3. a letter of disclaimer on affidavit
4. a certificate of death of the depositor on stamped paper in the form as in Annexure to Form F.

Feedback