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[Cites 0, Cited by 0] [Section 11] [Entire Act]

Union of India - Subsection

Section 11(1) in National Savings Recurring Deposit Scheme, 2019

(1)Notwithstanding anything contained in the foregoing paragraphs, if sixty monthly deposits have been made in an account during its maturity period or maturity periods as extended under sub-paragraph (1) of paragraph 6, the account holder may, at his option, retain in it the amount of repayment due, by making an application in Form-3, under sub-paragraph (1) of paragraph9 for a further period upto a maximum of five years without making any fresh deposits during such further period.