Do I need to be physically present to withdraw MIS after maturity ?

POSTED BY heartshacker ON December 10, 2013 10:40 am COMMENTS (3)

I would like to withdraw (not monthly interest) MIS as it has matured. But postmaster is saying that I need to be present to withdraw MIS. No authorization will work. I am out of India and no plan to visit soon. As it is matured, i will not get interest that I was getting. Interest rate is normal as savings bank.

Any suggestion?

3 replies on this article “Do I need to be physically present to withdraw MIS after maturity ?”

  1. ashalanshu says:

    Dear Ashish, well this may happen if the Post Master is agreeing to process despite your absense.

    Thanks

    Ashal

  2. ashalanshu says:

    Dear Heartshacker, yes the Post Master is saying right. You need to be physically present to claim it.

    Thanks

    Ashal

    1. Ashish Garg says:

      Hi Ashal,

      I may be wrong here if MIS maturity procedure is considered, but I also had an MIS in Delhi which got matured about a year back. During this period I moved from Delhi to Mumbai and later to Bangalore. In my case it was not possible to personally go and do the formalities.

      I had to give an authority letter stating that since I can not come personally, I authorise my representative to collect the money on my behalf. Along with the letter I had handed over my ID proof, MIS passbook and also my representative’s ID proof.

      The post office did issued the cheque in my name and handed over to the representative. I got the money credited to my account once the cheque was deposited.

      Regards,

      Ashish Garg

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