PPF Account Closure procedure (with loan)

PPF Account Closure procedure (with loan)

 

1. Counter PA has to invoke loan repayment using CPDTM menu.

2. Supervisor has to verify the transaction in CPDTM menu.

3. CLPR menu (PROCESS) has to be invoked by Supervisor for processing loan account.

4. Then, HACINT is to be invoked by CPC team (at present). On invoking this, the interest for loan account is calculated and posted in PPF loan account.

5. The loan interest has to be paid through CPDTM menu again, if the PPF account is not a matured account.

6. The loan interest has to be recovered through CPWTM menu, if the PPF account is a matured account.

7. Closure of loan account has to be invoked using HCAAC by counter PA.

8. Closure has to be verified by Supervisor using HCAAC menu.

9. For closing PPF account, the procedure for closure of PPF account without loan has to be followed.