NSS 87 WITHDRAWAL PROCEDURE :
1.
NSS 87 is a discontinued scheme in DOP
i.e., for a discontinued scheme in general we don't accept any deposits(credit
transactions).
2.
For withdrawal in an NSS 87 account the
eligibility criteria is 50% of preceding 4th financial year value from the
current financial year and in between if any withdrawals have been taken then
we have to less that amount i.e., whichever is less amount.
3.
The maximum withdrawal eligibility for
the customers 65 years and above (i.e., 15H customers) is 240000/-(two lakhs
forty thousand only).
4.
The maximum withdrawal eligibility for
the customers below 65 years (i.e., 15G customers) is 160000/-(one lakh sixty
thousand only) for Male customers and 190000/-(one lakh ninety thousand only)
for Female customers as per the DOP SB orders.
5.
Only 1 withdrawal is allowed per
financial year.
6.
If the amount of withdrawal is less
than 2500/- then their will be no tax and if the amount is 2500/- and above
then their will be 20% tax on the amount of withdrawal.If the customer provides
15G/15H then their will be no tax irrespective amount.
7.
Mode of disbursement can be cash,cheque
or SB transfer as per need.
