Rule 4 - Types of certificates and issue thereof - National Savings Certificates (VIII Issue) Rules, 1989

Types of certificates and issue thereof. 4. (1) The certificates shall be of the following types, namely:— (a) Single holder type certificates; (b) Joint 'A' type certificates; and (c) Joint 'B' type certificates. (2) [(a) A single holder type certificate may be issued to:— (i) an adult for himself or on behalf of a minor or to a minor; (ii) [ *** ] (iii) [***] (b) A joint 'A' type certificate may be issued jointly to two adults payable to both the holders jointly or to the survi vor; (c) A joint 'B' type certificate may be issued jointly to two adults payable to either of the holders or to the survivor. [ (3) Non-Resident Indians (NRIs) are not eligible to purchase the National Savings Certificates : Provided that if a resident who subsequently becomes NRI during the currency of maturity period, shall be allowed to avail the benefits of the certificates on maturity on a non-repatriation basis. ]