The Department of Posts of Ministry of Communication has introduced common or modified forms to be used in National Savings Schemes such as PPF, NSC, KVP, Sukanya Samriddhi Account, monthly income account, Time Deposits, SCSS etc. The application form for investing in PPF will be the same as that for investing in NSC or even for opening a post office savings account. Similarly, the common form has been introduced for extension of investments in post office recurring deposit, PPF or SCSS. Such new account opening form (AOF) will apply to both CBS (core banking solution) and non-CBS Post Offices and can be used to apply for the opening of an account under Savings account, RD or time deposits for 1,2,3,5 Years, MIS, SCSS, PPF, KVP, NSC etc.
Earlier, in December 2019, new application forms for opening an account, taking a loan, or for extension of account were introduced. The Department of Posts has clarified that in case, any depositor submits any of the notified forms in revised schemes rules 2019, that form may also be accepted.
The Department of Posts in its latest circular states that it has been receiving various references from Field Units and other stakeholders citing difficulties in the use of separate forms for each Savings Scheme as well as serious issues in printing and procurement and ensuring the availability of all these forms in all the Post Offices. So, in consultation with NSI and since this is a purely operational issue, they have decided to allow the use of the following common forms by the all Post Offices, instead of separate form.
These are the common forms for each purpose:
1. Application form for Opening of Account/Purchase of Certificate (AOF)
2. Pay-in Slip (SB-103)
3. Application form for Closure of Account on Maturity. (SB-7A)
4. Application form for Premature Closure of Account. (SB-7B)
5. Application form for Loan/withdrawal from RD/PPF and SSA Accounts (SB-7C)
6. Application form for extension of RD/TD/PPF/SCSS Accounts.
For those who wish to extend the PO accounts such as PPF, SCSS, RD etc, there will be a common form. One has to mention the account number of the PO scheme, account opening and maturity date. Thereafter, they will have to apply for an extension of the PPF account or SCSS scheme. The PPF can be extended in block of 5-years and SCSS can be extended in a block of 3 years.
For normal withdrawal from Post Office Savings or NSS-87 Accounts and withdrawal of periodical interest from TD/MIS/SCSS accounts, existing withdrawal form (SB-7) will continue to be used.
Depending on the investments, the depositor has to make the declaration in the AOF. In the case of Sukanya Samriddhi Account one will have to declare that no other account has been opened under Sukanya Samriddhi Account in the name of the depositor in any of the Post office/Bank in the country.
Also, in the case of PPF, one will have to declare that no other account has been opened under Public Provident Fund Account in the name of self or minor in any of the Post office or bank in the country. Further, a declaration has to be made that the ceiling of maximum deposit in the accounts opened in my name and in the name of minors as per provision of the scheme and any deposit in excess of the ceiling will be treated as in contravention to the Scheme provisions.
