Points to be noted while closing RD account under Claim Case

RD Claim Closure: - The following points have to be noted.

91. (2) (iii) If maturity value of a discontinued account is retained by the account holder after the date of maturity, interest at the rate applicable to this Scheme for completed years, and at the rate applicable to the Post Office Savings Account for completed months. If the period is less than a year, POSA rate of interest shall be paid on the maturity value on the date of maturity. The interest in this case may be paid up to a maximum period of five years from the date of maturity of the account.

Source : POSB (CBS) Manual Page No 59 Corrected upto 31.12.2021