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.