Rule 15 - Encashment on maturity - National Savings Certificates (IX-Issue) Rules, 2011

15. Encashment on maturity,- 1 [ (1) ] The maturity period of a certificate of any denomination shall be ten years commencing from the date of the certificate. The amount, inclusive of interest, payable on encashment of a certificate at any time after the expiry of its maturity period shall be ₹ 234.35 for denomination of ₹ 100 and at proportionate rate for any other denomination. The interest specified in the Table below shall accrue to the holder or holders of the certificate at the end of each year and the interest so accrued at the end of each year up to the end of the ninth year, shall be deemed to have been re-invested on behalf of the holder and aggregated with the amount of face value of the certificate. TABLE The year for which interest accrues Amount of interest (Rs.) accruing on certificate of ₹ 100 denomination (1) (2) First Year 8.89 Second Year 9.68 Third Year 10.54 Fourth Year 11.48 Fifth Year 12.50 Sixth Year 13.61 Seventh Year 14.82 Eighth Year 16.13 Ninth Year 17.57 Tenth Year 19.13 Note: The amount of interest accruing on a certificate of any other denomination shall be proportionate to the amount specified in Table above. 2 [ (2) Where a certificate has been purchased on or after the 1st day of April, 2012 the amount inclusive of interest, payable on encashment of the certificate at any time after the expiry of its maturity period shall be ₹ 238.87 for denomination of ₹ 100 and at proportionate rate for any other denomination. The interest as specified in the Table below shall accrue to the holder or holders of the certificate at the end of each year and the interest so accrued at the end of each year upto the end of the fourth year shall be deemed to have been reinvested on behalf of the holder and aggregated with the amount of face value of the certificate. TABLE The year for which interest accrues Amount of interest (rupees) accruing on certificate of ₹ 100 denomination First Year 9.10 Second Year 9.93 Third Year 10.83 Fourth Year 11.81 Fifth Year 12.89 Sixth Year 14.06 Seventh Year 15.34 Eighth Year 16.74 Ninth Year 18.26 Tenth Year 19.92 Note: The amount of interest accruing on a certificate of any other denomination shall be proportionate to the amount specified in the Table above ] 3 [ (3) Where a certificate has been purchased on or after the 1st day of April, 2013 the amount inclusive of interest, payable on encashment of the certificate at any time after the expiry of its maturity period shall be Rs. 236.60 for denomination of Rs. 100 and at proportionate rate for any other denomination. The interest as specified in the Table below shall accrue to the holder or holders of the certificate at the end of each year and the interest so accrued at the end of each year upto the end of the fourth year shall be deemed to have been reinvested on behalf of the holder and aggregated with the amount of face value of the certificate. TABLE The year for which interest accrues Amount of interest (rupees) accruing on certificate of Rs. 100 denomination First Year 8.99 Second Year 9.80 Third Year 10.68 Fourth Year 11.64 Fifth Year 12.69 Sixth Year 13.83 Seventh Year 15.08 Eighth Year 16.43 Ninth Year 17.91 Tenth Year 19.52 Note: The amount of interest accruing on a certificate of any other denomination shall be proportionate to the amount specified in the Table above ] 4 [ (4) Where a certificate has been purchased on or after the 1st day of April, 2014, the amount inclusive of interest, payable on encashment of the certificate at any time after the expiry of its maturity period shall be Rs.236.60 for denomination of Rs. 100 and at proportionate rate for any other denomination and the interest as specified in the Table below shall accrue to the holder or holders of the certificate at the end of each year and the interest so accrued at the end of each year upto the end of the fourth year shall be deemed to have been reinvested on behalf of the holder and aggregated with the amount of face value of the certificate. TABLE Year for which interest accrues Amount of interest (rupees) accruing on certificate of Rs. 100 denomination First Year 8.99 Second Year 9.80 Third Year 10.68 Fourth Year 11.64 Fifth Year 12.69 Sixth Year 13.83 Seventh Year 15.08 Eighth Year 16.43 Ninth Year 17.91 Tenth Year 19.52 Note: The amount of interest accruing on a certificate of any other denomination shall be proportionate to the amount specified in the Table above. ] ************** NOTES:- 1 . Re-numbered vide Notification No. GSR 319(E) dated 25-4-2012 2 . Inserted vide Notification No. GSR 319(E) dated 25-4-2012 3 . Inserted vide Notification No. GSR 403(E) dated 25-06-2013 w.e.f. 01-04-2013 4 . Inserted vide Notification No. G.S.R. 495(E) dated 11-07-2014 w.e.f. 01-04-2014