HANDLING OF UNCLAIMED ACCOUNTS AND SAVINGS CERTIFICATES
|
Sl.No |
Category |
Period |
|
1 |
1,2,3,5RD,
MIS, NSC, KVP, S5A |
10 years from the date of maturity |
|
2 |
NSS- 87 & NSS-92 |
10 years from the date of last withdrawal |
|
3 |
RD (Not extended) |
10 years from the date of maturity |
|
4 |
RD (extended with deposits) |
10 years from the revised dates of maturity |
|
5 |
RD (extended without deposits) |
10 years from the revised dates of maturity |
|
6 |
SCSS (Not extended) |
10 years from the date of maturity |
|
7 |
SCSS (extended) |
10 years from the extended date of maturity |
|
8 |
Savings Accounts (Any type) |
10 years from the last transaction F/Y |
|
9 |
PPF (If not extended or closed after maturity) |
10 years from the date of maturity |
|
10 |
PPF (If extended after maturity) |
10 years from the revised date of maturity |
|
11 |
Discontinued Schemes/Accounts/certificates |
10 years from the date of maturity 10 years from the date of discontinuance. |
- Every year as on 30th September, accounts certifying the above criteria will be identified centrally in Finacle (National level) and frozen.
- A list of such accounts shall be published in the official Website.
- Circles should download the list relating to their Circle and details shared to the concerned post offices.
- Post offices shall display the details in their office notice board and contact the concerned customers at least two times within a span of sixty days from the date of displaying the details on their office notice board.
- If any of these depositors attends the post office with passbook or certificate, they will be requested to contact the concerned Head Post office along with their KYC and two witnesses alongwith their KYC.
- At HPO, the Head Postmaster will confirm whether the account/certificate has actually been lying frozen and thereafter verify the KYC documents. If he is satisfied, he will record "Closure Allowed' on the Closure application or on the Savings certificate. He will also attest the KYC documents of Depositor and two witnesses.
- The HO supervisor will thereafter unfreeze the account and another Supervisor will verify it in Finacle.
- The account/certificate will thereafter be closed as per the prescribed procedure.
HANDLING OF MATURED ACCOUNTS NOT CLOSED EVEN AFTER 3 YEARS:
The above orders have been amended vide SB Order No 10/2025 dated 15.07.2025 as per which, the freezing of accounts which have matured but not closed even after three years should be done two times in a year from 1st July and and 1st January for the periods ending 30th June and 31st December and the work should be completed within 15 days.
