Rules for Nomination in Post Offices - Nomination Mandatory for all types of Accounts & Two witnesses for illiterate depositor, etc.,

GSPR - Government Savings Promotion General Rules 2018 Nomination: Nomination is mandatory   for all types of accounts. Maximum four individ...

GSPR - Government Savings Promotion General Rules 2018

Nomination:

• Nomination is mandatory for all types of accounts.
• Maximum four individuals can be nominated.
• If nominee is a minor, the depositor to authorize an appointee.
• Nomination can be varied by the depositor any time before the maturity of the account.
• Nomination stands cancelled on:

i. death of all the nominee,
ii. transfer of the account as security (pledging)

• If depositor is illiterate, attestation by two witnesses is required while making/altering nomination. No witness is necessary for literate depositors.