Section 19 in Government Savings Promotion General Rules, 2018
19. Closure of account.
(1)The closure of an account shall be permitted on its maturity:Provided that pre-mature closure of an account may be permitted if provided for in the Savings Scheme and subject to the conditions specified therein.(2)Payment of eligible balance under sub-rule (1) shall be made, at the option of depositors or guardian or nominee or legal heir, as the case may be, through any of the following means; namely:-(a)by transfer to the Savings Bank account of the payee,(b)by a crossed cheque,(c)by cash, if the amount is below the limit prescribed in this regard under the Income Tax Act, 1961.(3)Pre-mature closure of an account shall be permissible as per the provisions of the Savings Scheme.
