MAHILA SAMMAN SAVINGS SCHEME

(i) An MSSC account cannot be closed before maturity except in the following circumstances: -

(a) On the death of the account holder.

(b) Under extreme compassionate grounds such as medical support in life-threatening diseases of the Account holder or death of the guardian and the operation or continuation of the Account is causing undue hardship to the Account holder.  

An application from the account holder/guardian shall be obtained alongwith certificate of treating doctor or death certificate of guardian.

(ii) Where an account is prematurely closed under conditions mentioned above., interest on principal amount at the rate applicable to the scheme for which the account has been held shall be payable.

(iii) Premature closure of an Account is also permitted  any time after the completion of six months from the date of opening of the account  for  reasons other than mentioned in para  (i) above by submitting an application and  in such cases account shall be eligible only for the interest rate less by two per cent  than the rate specified for this scheme (viz. 5.5%).