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Untitled Document
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National Saving Certificates |
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Interest Rate
It is an assured return scheme with tax rebates under sec. 80C IT Act, 1961. Interest is payable at 8% - compounded half yearly for a duration of 6 years.
Period during which purchased |
Maturity Value for a Denomination of Rs.100.00 |
From |
To |
01.01.1999 |
14.01.2000 |
Rs.195.60 |
15.01.2000 |
28.02.2001 |
Rs.190.12 |
01.03.2001 |
28.02.2002 |
Rs.174.52 |
01.03.2002 |
28.02.2003 |
Rs.169.59 |
01.03.2003 |
onwards |
Rs.160.10 |
Features
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One person can be nominated for certificates of denomination of Rs. 100- and more than one person can be nominated for higher denominations.
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Maturity period is 6 years. No premature encashment is permitted in the normal course.
- Maturity value is rounded off to nearest rupee; i.e., 50 paise and above is taken as next rupee.
- PREMATURE ENCASHMENT under sub-rule (1) of rule 16 after the expiry of three years from the date of purchase of certificate. Table below for a certificate of Rs.100 denomination and at a proportionate rate for a certificate of any other denomination.
- Post maturity interest will be paid for a maximum period of 24 months at the rate applicable to individual savings account.
Table
Period from the date of the certificate to the date of its encashment. |
Issued from 01.03.2001 to 28.02.2002 |
Issued from 01.03.2002 to 28.02.2003 |
01.03.2003
onwards . |
Three years or more, but less than three years and six months |
126.43 |
124.62 |
121.15 |
Three years and six months or more, but less than four years. |
131.71 |
129.51 |
125.09 |
Four years or more, but less than four years and six months. |
136.90 |
134.29 |
129.16 |
Four years and six months or more, but less than five years. |
142.48 |
139.43 |
133.36 |
Five years or more, but less than five years and six months. |
147.98 |
144.46 |
137.69 |
Five years and six months or more, but less than six years |
153.89 |
149.83 |
142.16 |
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