Post Office Application Form For Pre-Mature Closure Of Account

Post Office Application Form For Pre-Mature Closure Of Account from Download

Based on the provided document, here are the key points for completing and submitting Form SB-7B (Application for Pre-Mature Closure of Account):

Target Action: Used by depositors to close an investment account and withdraw funds before it completes its official maturity tenure.
Universal Application: Valid across various National Savings Schemes, including RD, TD, MIS, SCSS, PPF, SSA, and KVP.
Penalty Acceptance: The applicant explicitly requests the payout after the deduction of any applicable penalty or outstanding dues under the scheme guidelines.

The left side of the form must be completed by the account holder or guardian:

Account Tracking: The name of the Post Office branch, the specific type of scheme, the unique account number, and the current balance amount.
Statutory Compliance: A formal declaration confirming that all specific scheme-related provisions required for early closure have been met.
Minor/Unsound Mind Clause: If applicable, a mandatory certification stating the beneficiary is alive and that the withdrawn funds are explicitly for their direct use.

The depositor must specify how they wish to receive the final liquidated balance:

Option 1: Direct credit to an active Post Office Savings Bank (SB) Account (requires the account number and branch name).
Option 2: Issuance of a standard Account Payee Cheque.
Option 3: Cash payment (strictly permitted only if the total amount falls below the legally permissible cash limit).

Double Signature Requirement: The depositor or legal guardian must sign the form in two distinct places: once on the initial application side (left) and once inside the “Acquittance” receipt block (bottom right).
Thumb Impressions: If the applicant uses a thumb impression, a witness must formally attest to the print by providing their name and full address in both signing sections.
Contact Information: The acquittance block requires the applicant’s current mobile number.

The top-right section is reserved for the Postmaster to issue the final “Payment Order”:

Breakdown Ledger: It captures the original principal amount, adds the accrued interest due, subtracts any historically overpaid interest recovery, and subtracts penal interest deductions.
Authorization: The final total payable amount is written in figures and words, then authorized by a unique Transaction ID, the Postmaster’s signature, and the branch date stamp.