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Section 8: Extension after maturity

Senior Citizens Savings Scheme 2019Central Rules · 1873

(1) The account holder may extend the account for a further period of three years by making an application in Form-4 within a period of one year from the date of maturity.

(2) The extension of the account under sub-paragraph (1) shall be deemed to have been made from the date of maturity irrespective of the date of application.

(3) Extension of an account under sub-paragraph (1) shall be available only once.

(4) The account holder may close the account any time after one year from the date of extension of account without any deduction under sub-paragraph (1) of paragraph 6.

Where this provision sits

ActSenior Citizens Savings Scheme 2019
Section8
Marginal noteExtension after maturity
JurisdictionCentral
StatusIn force as published by the source

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