NSC problem - name on cheque

[Ramesh Apte]

I have a nsc worth of Rs 50,000. This is matured and I am getting Rs. 80,000. However I am being told that I will get the amount via cheque. The NSC is in my mother's name and so I will get the cheque in her name, which I don't want. The NSC agent told me that I will have to renew the NSC again in joint name this time so that after maturity I will be able to get the cheque in my name.

Is there any other option? Can't I get the entire money in cash?
Or may be if I partially withdraw Rs. 20,000 which they claim to give it in cash and the remaining to be reinvested in NSC. or is there anyother solution.

Please help urgently.

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[Master]

What is the issue is cashing in the NSC in cheque?
All govt department pay in cheque, you can't change that.

I don't know whether you can transfer after maturity. But if you could then you just transfer it in your name and encash.

[Master]

Yes, you can transfer it.

Rules :
1- The NSC certificate can be transferred from one person to another with the consent of the Postmaster.
2- The transfer can be made after expiry of a period of at least one year from the date of the certificate.
3- The transfer is permitted only for the whole amount and not for the part of it.