Rule 9 - Closure of account - Post Office (Monthly Income Account) Rules, 1987

Closure of account 9. (1) The deposit made at the time of opening of account shall be paid by the Post Office at which the account stands to the depositor on or after the expiry of six years from the date of the opening along with bonus equal to 10 per cent of the amount deposited, on production of the pass book accompanied by a writ ten application. Provided that no bonus shall be paid on the deposits made in the accounts opened on or after the 13th day of February, 2006 Provided further that a bonus equal to five per cent of the amount deposited, on production of the pass-book accompanied by a written application (withdrawal form) shall be paid on the deposits made in new accounts opened on or after the 8th day of December, 2007. (2) In case of death of a depositor before maturity, account may be closed and deposit refunded along with interest up to the month preceding the month in which refund is made.