Post Office Account Withdrawal Rules Relaxed for Senior Citizens; Check Details

The Department of Post has been receiving several applications from account holders that as a consequence of sickness or old age they are unable to visit post office for the withdrawal /loan/closure or premature closure of their accounts.

To ease the difficulties confronted by the Senior citizens/ Individuals who are struggling with the sickness, the postal division has announced that ‘In case of the extreme exigencies, the withdrawal/loan /account closure or premature closure could be allowed by the licensed person’.

Nevertheless, for the security of the depositor’s cash, the postal division has come out with the pointers for Post Offices & Account holders that need to be adopted for the operation of account together with the loan/withdrawal/closure/ and the untimely closure of the account by the authorized person.

New Rules for Withdrawal /Closure/loan or Premature Closure of Accounts at Post

• The account holder has to submit an application (Form-12) to the Postmaster incharge, for the required service.

• The signature of Authorized person must be attested by Account holder.

• In case of Joined B account, any one of the account holders can attest the signature of authorized person.

• The authorized person should not be Post Office agent or the worker working within Post Office savings bank branch.

• The account holder has to fill withdrawal form/ closure form/ account premature closure form/Application for loan, as per his chosen service in his/her writing and sign it.

• The self attested copy of ID & Address proof of the account holder & the Authorized person must be enclosed.

• The Authorized person has to submit the passbook, withdrawal form/ authority letter/ closure form and account premature closure form/ application for the loan as required & KYC paperwork of the account holder & the Authorized person at the concerned Post Office.

• The counter postal assistance after tallying signatures will submit case to supervisor for the approval.

• The supervisor will examine & confirm the paperwork in addition to the signature of account holder with the workplace file & if he or she is happy, then he or she shall write an order on top of the application as ‘Authorization Accepted’ & sign.

• Thereafter, the counter postal supervisor or assistant will process for the loan/withdrawal/account closure/account premature closure as the case maybe.

• The cost shall be made by the account payee cheque or the credit score in to the PO savings Account or Bank Account of account holder. No money cost, might be given to Authorized person besides in case of the withdrawal from the financial savings account.

• Signature of the Authorized person needs to be taken in an acquaintance a part of the withdrawal type or account untimely closure type.