For reinvestment / Maturity value remarks should write on voucher mentioned below as Per SB Order 11/2021

For reinvestment /Maturity value remarks should write on voucher mentioned below as Per SB Order 11/2021.

For reinvestment /Maturity value remarks should write on voucher mentioned below as Per SB Order 11/2021:

Open by Account Holder (Direct Reinvestment)

1. In acquittance portion of account closure form (SB-7A) or backside of preprinted KVP/NSC, account holder shall write ‘Credit maturity value into my Post Office Savings Account No. ………………” and sign

2. In acquittance portion of withdrawal form (SB-7) of Post Office Savings Account or on the backside of POSB cheque, account holder shall write ‘For Reinvestment in………………………scheme in lieu of closed A/c No. ………….. for Rs. ……………… and sign'.

Open by Account through SAS agent

In SAS agency rules/existing procedure, re-investment of maturity value through withdrawal form (SB-7) is allowed. However new investment under SAS agency rules is allowed only through Cash (up to Rs.20, 000) or By cheque.

1. In acquittance portion of account closure form (SB-7A) or backside of preprinted KVP/NSC, account holder shall write ‘Credit maturity value in to my Post Office Savings Account No. ………………” and sign.

2. In acquittance portion of withdrawal form (SB-7) of Post Office Savings Account or on the backside of POSB cheque, account holder shall write ‘For Reinvestment in ________ scheme in lieu of closed A/c No. ………….. for Rs. ………………through the agent……………………………………..(name of agent and C.A. number) and sign

Note:

1. Reinvestment should be done on same day when account closed.

2. The re-investment can be made either for the amount equal to or less amount and up to maturity value credited.

3. The reinvestment can only be made under same CIF and in the name of account holder/one of the joint holders/minor under the guardianship of the account holder i.e. The account holder (s) of the matured account shall be the sole account holder or one of the joint account holders or the guardian of the minor / person of unsound mind as the case may be, of the new account opened under reinvestment.