Important Instruction: Payment of Pending Interest Before Account Closure

Dear Sir/Madam,

It is hereby informed that, in respect of TD, MIS, SCSS and similar accounts, where the interest due has not been paid through the Sundry Account, the pending interest must be paid to the account holder before initiating the account closure process.

Key Points

• Verify whether any interest payment is pending before processing account closure.
• If interest is pending, ensure that the due interest is paid to the account holder first.
• The account closure process should be initiated only after payment of the pending interest.
• Once the account is closed, the system does not permit payment of pending interest.
• All concerned officials are therefore requested to exercise due care and ensure that all interest due, if any, is paid before closing the account.

All concerned officials may kindly ensure strict compliance with the above instruction.