Interest Rates & Premature Encashment of National Savings Certificate

Interest Rate

Period during which purchased  

Maturity Value for a Denomination of      INR 100.00    

From   To  
  01.01.1999   14.01.2000   INR 195.60
15.01.2000 28.02.2001   INR 190.12  
01.03.2001 28.02.2002   INR 174.52  
01.03.2002 28.02.2003   INR 169.59  
01.03.2003 onwards   INR 160.10  

 Features

One person can be nominated for certificates of denomination of INR  100 and more  than one person can be nominated for higher denominations.  

  Maturity period is 6 years.No premature encashment is permitted in thenormal course.   

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 INR 100 denomination and at a proportionate rate for a certificate of any other denomination.

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




Author: admin

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