Post Office to collect passbook of deposit accounts at the time of closure

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The next time you visit Post Office to close your account, i.e., Recurring Deposit/Term Deposit/Monthly Income Scheme (MIS)/Senior Citizen Savings Scheme (SCSS)/Kisan Vikas Patra (KVP) and National Savings Certificate (NSC), either on maturity or for premature closure of the account, then don’t forget to carry your passbook.

This is because Post Office Officials will collect your passbook before closing your account. This was announced in a circular dated January 13, 2022. As per the circular, “At the time of closure/premature closure of any TDA type of accounts (RD/TD/MIS/SCSS/KVP and NSC), all single and double handed post offices (including BOs) shall collect closed passbook from the account holders. The closure entry is to be noted after last transaction in the passbook by the post office concerned with date stamp.”

Account Closure Report will be given to the account holder as an acknowledgement to the account holder. Further, if the account holder demands an account statement, then the same will be provided in lieu of a passbook without any charges.

While the closing of the above accounts, ensure that your mobile number and PAN is updated in the account. If the same is not updated, then the account holder will not be able to undertake financial transactions above certain amounts.

Also Read:
No transaction in Post Office Accounts if mobile number, PAN not updated

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