P.O. S.B. Manual Vol. III - India Post

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42Note 1:- Prior to 1.4.1995, the account could be opened by a banking company (excluding cooperatives)company, a corporation, an association, institution, a body register as a society under any law for thetime being in force (excluding cooperatives) , a firm registered under the Indian Partnership Act, 1932 (9of 1932) and a local authority.Note 2:- Non-Resident Indians are not eligible to open Time Deposit Account, provided that if a residentwho opened the Time Deposit Account, subsequently becomes Non Resident Indians during thecurrency of the maturity period, may continue such account till its maturity on a Non Repatriation Basis.Note 3:- The Opening of new accounts under the headings ‘Group Accounts’, Institutional Accountsand miscellaneous Accounts have been discontinued w.e.f. 13.5.2005 vide MOF (DEA) Notification No.GSR 287 (E) dated 13.5.2005. If any such account have been opened on or after 13.5.2005, these may beclosed immediately and deposits repaid without interest to the depositors. The existing accounts underthese headings opened prior to 13.5.2005 shall continue till maturity and withdrawals from the accountsshall be allowed in accordance with the said rules. No extension will be allowed after maturity.5. Deposit and Repayment:- (1) There shall be only one deposit in an account. The deposit shallbe in multiple of two hundred rupees. There is no maximum limit for the amount of deposit in anaccount.(2) The deposit shall be repayable only after the expiry of the period for which it is made,namely, one year, two years, three years or five years, as the case may be.(3) The repayment of a deposit under sub-rule (2) or payment of interest on a deposit underrule-7 or rule-8 or rule-9, as the case may be, shall be made by the Post Office Savings Bank at which theaccount stands, on the production of the passbook accompanied by a written application.Provided that such repayment or payment of interest, as the case may be, shall not be made by anExtra Departmental Sub Savings Bank or Branch Savings Bank except with prior sanction of the relevantHead Savings Bank or relevant Sub Savings Bank.(4) The amount of repayment of a deposit and payment of interest on a deposit shall beentered in the passbook over the signature of the Postmaster.6. Re-deposit:- (1) Where a deposit in an account has become due for repayment, the depositor mayre-deposit the amount in a new account to be opened, tendering his application for withdrawal of theoriginal deposit in the prescribed form duly discharged.(2) Subject to sub-rule (3), the date of re-deposit shall be date of withdrawal of the originalsubject.(3) (a) Where the redeposit is made during the period specified in column (1) of the Table belowand such re-deposit is for the period specified in the corresponding entry in column (2) thereof, the dateof re-deposit shall be deemed to be the same as the date of maturity of the original deposit.T A B L EPeriod elapsed between the date of maturity and Minimum period of re-depositthe date of re-deposit1. 2.1. 6 months or less 1 Year2. More than 6 months and upto 12 months 2 Years3. More than 12 months and upto 18 months 3 Years4. More than 18 months 5 Years(b) In the case of re-deposit falling under item-4 of the Table if more than thirty months haveelapsed after the maturity of the original deposit, the date of re-deposit shall be deemed to be the datepreceding the date of withdrawal of the original deposit by thirty months.
7. Interest:- (1) The deposit shall carry interest at the rate specified in the Tables below and suchinterest shall be payable at the end of each year in the period of deposit;Provided that in the case of a deposit made before 23 rd July, 1974, the rates of interest notifiedprior to that date by the Central Government from time to time for such deposit shall be applicable forthe period of deposit upto and inclusive of the 22 nd July, 1974 and the rates of interest specified in Table-A below shall be applicable for any remaining period of deposit commencing from the 23 rd July, 1974.43(2) Where the interest contains part of a rupee and if such part is 50 paise or more, it shall be roundedoff to one complete rupee and if such part is less than 50 paise, it shall be ignored.T A B L E -A[For deposits made before the 1 st March, 1978]Period of depositRate of interest per annum1 Year 8 per cent2 Years 8.5 per cent3 Years 9 per cent5 Years 10 per centT A B L E -B[For deposits made on after the 1 st March, 1978 but before the 1 st October, 1979]Period of depositRate of interest per annum1 Year 7 per cent2 Years 7.5 per cent3 Years 8 per cent5 Years 10 per centT A B L E -C[For deposits made on after the 1 st October, 1979 but before the 2 nd March, 1981]Period of depositRate of interest per annum1 Year 8 per cent2 Years 8.5 per cent3 Years 9 per cent5 Years 10.5 per centT A B L E -D[For deposits made on after the 2 nd March, 1981 but before the 1 st April, 1982]Period of deposit Rate of interest perannum1 Year 8.5 per cent2 Years 9 per cent3 Years 10.5 per cent5 Years 10.5 per centT A B L E -E[For deposits made on after the 1 st April, 1982 but before the 1 st March, 1983]Period of depositRate of interest per annum1 Year 9 per cent2 Years 9.75 per cent
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POST OFFICE SAVINGS BANK MANUALVOLU
Page 3 and 4:
1CHAPTER-1THE GOVERNMENT SAVINGS BA
Page 5 and 6:
emaining in his hand unadministered
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5CHAPTER-2THE GOVERNMENT SAVINGS CE
Page 9 and 10:
minor, or where neither parent is a
Page 11 and 12: eing in force other than this Act o
Page 13 and 14: 1. Short title and commencement:- (
Page 15 and 16: 6. Withdrawal:- (1) Withdrawal from
Page 17 and 18: sub-rules (2) to (4).(2) (a) If a n
Page 19 and 20: 16F O R M -1[See Rule 3, 12 (1) and
Page 21 and 22: 17(SB-55)F O R M -2[See rule 12(1),
Page 23 and 24: 18CHAPTER -5THE POST OFFICE SAVINGS
Page 25 and 26: (e) An authoritycontrolling aProvid
Page 27 and 28: 3. PensionAccountA pensioner,being
Page 29 and 30: from the first day of the month in
Page 33 and 34: 24C H A P T E R-6THE PO ST OFFICE R
Page 35 and 36: datesinclusive)From 1.5.1971 to 31.
Page 37 and 38: (2) Notwithstanding anything contai
Page 39 and 40: month of repayment irrespective of
Page 41 and 42: Five years 1207.40Note 1:- The amou
Page 43 and 44: 32T A B L E -13[See Rule 10]Amount,
Page 51 and 52: Note:- The amount repayable on an a
Page 53 and 54: Note : - The amount shall be propor
Page 55 and 56: 28 308.55 53 651.7029 320.65 54 666
Page 57 and 58: 28 306.70 53 644.1029 318.65 54 658
Page 59 and 60: 29 314.66 54 643.2330 326.41 55 657
Page 61: (a) A-type, that is to say,payable
Page 65 and 66: 44T A B L E -G[For deposits made on
Page 67 and 68: (a) No deposit shall be withdrawn b
Page 69 and 70: 12. Repeal and saving:- (1) The Pos
Page 71 and 72: (2) Where deposit is made by cheque
Page 73 and 74: 51CHAPTER-9THE SENIOR CITIZENS SAVI
Page 75 and 76: (4) Nomination facility shall be av
Page 77 and 78: continue the account on the same te
Page 79 and 80: 5512. Account opened in contraventi
Page 81 and 82: depositorpayable.1 2 3 4 5Photograp
Page 83 and 84: * Score out whichever is not applic
Page 85 and 86: 3. I shall close the account immedi
Page 87 and 88: 60FORM-D(See sub-rule (1) of rule 3
Page 89 and 90: 61ReceivedRs…………………..
Page 91 and 92: Received a sum of Rs……………
Page 93 and 94: Signature / Thumb impression of the
Page 95 and 96: 65ANNEXURE-II TO FORM - F(Affidavit
Page 97 and 98: 67FORM - G(See rule 11)Serial No…
Page 100 and 101: 69CHAPTER-10THE PUBLIC PROVIDENT FU
Page 102 and 103: satisfying itself that the amount o
Page 104 and 105: eceipt of application in Form G in
Page 106 and 107: Name of Accounts Public Provident F
Page 108 and 109: Subscriber/guardian
Page 110 and 111: 77FORM -E[See sub-paragraph (1) of
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Date………………………..
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@ To be produced by legal heirs, in
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81ANNEXURE-II TO FORM - G(Affidavit
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83FORM - H(See Sub-paragraph (3A) o
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7. Procedure for purchase of certif
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(3) Notwithstanding anything contai
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Period from the date of the certifi
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90T A B L EPeriod from the date of
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nominee3. I/We hereby agree to abid
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Identity SlipSpecimen signature of
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Address (2)NB : In the case of illi
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Post Office.Orders of the Postmaste
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(2) (a) A Single Holder Type Certif
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(c) a corporation or a Government c
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First year 12.40Second year 13.90Th
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to the amount specified in the Tabl
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Period from the date of the certifi
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maturity of the certificate to:-(a)
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105FORM 1[See Rule 6]FORM OF APPLIC
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107FORM 3DEPARTMENT OF POSTS[See Ru
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108CHAPTER-13THE POST OFFICE SAVING
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1093. Denomination in which certifi
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(v)a certificate purchased by a pro
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11216. Transfer of certificate from
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No…………….. dated……….
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11522. When Encashable:- (1) Except
Page 164 and 165:
11628. Rights of nominees:- (1) In
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