Rule 13 - Premature encashment - Kisan Vikas Patra Rules, 1988

Premature encashment 13. (1) Notwithstanding anything contained in rule 12, a certificate may be prematurely encashed any time in any of the following circumstances :— ( a ) on the death of the holder or any of the holders in the case of joint holder; ( b ) on forfeiture by a pledgee being a Gazetted Government Officer; ( c ) when ordered by a court of law. (2) If a certificate is encashed under sub-rule (1) within a period of one year from the date of certificate only the face value of the certificate shall be payable and no interest shall be payable. (3) If a certificate is encashed under sub-rule (1) after the expiry of one year but before the expiry of two years and six months from the date of certificate, face value of the certificate, together with simple interest calculated at the rate applicable from time to time to accounts under Post Office Sav ings Account Rules, 1981, for the complete months for which the certificate has been held, shall be payable. (4) Notwithstanding anything contained in rule 12 or in sub-rule (1), if a certificate is encashed any time after expiry of two years and six months from the date of certificate, the amount payable inclusive of interest shall be as specified in the Table below for denomination of Rs. 1,000 and at a proportionate rate for any other denominations : Table Period from the date of the certificate to the date of its encashment Amount payable inclusive of interest Rs. 1. 2 years and 6 months or more but less than 3 years 1,280 2. 3 years or more but less than 3 years and 6 months 1,380 3. 3 years and 6 months or more but less than 4 years 1,450 4. 4 years or more but less than 4 years and 6 months 1,590 5. 4 years and 6 months or more but less than 5 years 1,690 6. 5 years or more but less than 5 years and 6 months 1,880 (5) Notwithstanding anything contained in rule 12 or in sub-rule (1), if a certificate purchased on or after 16th December, 1991, is encashed at any time after the expiry of two years and six months from the date of the certificate, the amount payable inclusive of interest shall be as specified in the Table below for certificate of the denomination of Rs. 1,000 and at a propor tionate rate for any other denomination, namely :— Table Period from the date of the certificate to the date of its encashment Amount payable inclusive of interest Rs. 1. 2 years and 6 months or more but less than 3 years 1,340 2. 3 years or more but less than 3 years and 6 months 1,460 3. 3 years and 6 months or more but less than 4 years 1,550 4. 4 years or more but less than 4 years and 6 months 1,690 5. 4 years and 6 months or more but less than 5 years 1,800 6. 5 years or more but less than 5 years and 6 months 1,940. (6) Notwithstanding anything contained in rule 12 or in sub-rule (1), if a certificate issued on or after 24th April, 1992, is encashed at any time after the expiry of two years and six months from the date of the certificate, the amount payable inclusive of interest shall be as specified in the Table given below for certificate of the denomination of Rs. 1,000 and at a proportionate rate for any other denomination, namely :— Table Period from the date of the certificate to the date of its encashment Amount payable inclusive of interest (in rupees) 1. Two years and six months or more but less than three years 1,340 2. Three years or more but less than three years and six months 1,460 3. Three years and six months or more but less than four years 1,550 4. Four years or more but less than four years and six months 1,690 5. Four years and six months or more but less than five years 1,800. (7) Notwithstanding anything contained in rule 12 or in sub-rule (1), if a certificate issued on or after 2nd September, 1993, is encashed at any time after the expiry of two years and six months from the date of the certificate, the amount payable inclusive of interest shall be as specified in the Table given below or certificate of the denomination of Rs. 1,000 and at a proportionate rate for any other denomination, namely :— Table Period from the date of the certificate to the date of its encashment Amount payable inclusive of interest (in rupees) 1. Two years and six months or more but less than three years 1,310 2. Three years or more but less than three years and six months 1,420 3. Three years and six months or more but less than four years 1,500 4. Four years or more but less than four years and six months 1,620 5. Four years and six months or more but less than five years 1,730 6. Five years or more but less than five years and six months 1,860. (8) Notwithstanding anything contained in rule 12 or in sub-rule (1), if a certificate issued on or after 1st January, 1999 is encashed at any time after the expiry of two years and six months from the date of the certificate, the amount payable inclusive of interest shall be as specified in the Table given below for certificate of the denomination of Rs. 1,000 and at proportionate rate for any other denomination, namely :— Table Period from the date of the certificate to the date of its encashment Amount payable to inclusive of interest (in rupees) 1. Two years and six months or more but less than three years 1,280 2. Three years or more but less than three years and six months 1,380 3. Three years and six months or more but less than four years 1,450 4. Four years or more but less than four years and six months 1,560 5. Four years and six months or more but less than five years 1,650 6. Five years or more but less than five years and six months 1,770 7. Five years and six months or more but less than six years 1,870. (9) Notwithstanding anything contained in rule 12 or in sub-rule (1), if a certificate issued on or after the 15th day of January, 2000 but before the 1st day of March, 2001, is encashed at any time after the expiry of two years and six months from the date of issue of the certificate, the amount payable inclusive of interest shall be as specified in the Table given below for certificate of the denomination of Rs. 1,000 and at proportionate rate for any other denomination, namely :— Table Period from the date of issue of the certificate to the date of its encashment Amount payable inclusive of interest (in rupees) 1. Two years and six months or more but less than three years 1,246 2. Three years or more but less than three years and six months 1,302 3. Three years and six months or more but less than four years 1,407 4. Four years or more but less than four years and six months 1,478 5. Four years and six months or more but less than five years 1,585 6. Five years or more but less than five years and six months 1,668 7. Five years and six months or more but less than six years 1,779 8. Six years or more but less than six years and six months 1,874. (10) Notwithstanding anything contained in rule 12 or in sub-rule (1), if a certificate issued on or after the 1st day of March, 2001 but before the 1st day of March, 2002, is encashed at any time after the expiry of two years and six months from the date of issue of the certificate, the amount payable inclusive of interest shall be as specified in the Table given below for certificate of the denomination of Rs. 1,000 and at proportionate rate for any other denomination, namely :— Table Period from the date of issue of the certificate to the date of its encashment Amount payable inclusive of interest (in rupees) 1. 2 years 6 months or more but less than 3 years 1,209 2. 3 years or more but less than 3 years 6 months 1,274 3. 3 years 6 months or more but less than 4 years 1,327 4. 4 years or more but less than 4 years 6 months 1,409 5. 4 years 6 months or more but less than 5 years 1,470 6. 5 years or more but less than 5 years 6 months 1,572 7. 5 years 6 months or more but less than 6 years 1,644 8. 6 years or more but less than 6 years 6 months 1,770 9. 6 years 6 months or more but less than 7 years 3 months 1,857. (11) Notwithstanding anything contained in rule 12, if a certificate issued on or after the 1st day of March, 2002 but before the 1st day of March, 2003 , is encashed at any time after the expiry of two years and six months from the date of issue of the certificate, the amount payable inclusive of interest shall be as specified in the Table given below for certificate of the denomination of Rs. 1,000 and at proportionate rate for any other denomination, namely :— Table Period from the date of issue of the certificate to the date of its encashment Amount payable inclusive of interest (in rupees) 1. 2 years 6 months or more but less than 3 years 1,195 2. 3 years or more but less than 3 years 6 months 1,256 3. 3 years 6 months or more but less than 4 years 1,305 4. 4 years or more but less than 4 years 6 months 1,382 5. 4 years 6 months or more but less than 5 years 1,439 6. 5 years or more but less than 5 years 6 months 1,534 7. 5 years 6 months or more but less than 6 years 1,602 8. 6 years or more but less than 6 years 6 months 1,672 9. 6 years 6 months or more but less than 7 years 1,800 10. 7 years or more but less than 7 years 8 months 1,883. (12) Notwithstanding anything contained in rule 12, if a cer tificate issued on or after the 1st day of March, 2003, is en cashed at any time after the expiry of two years and six months from the date of issue of the certificate, the amount payable inclusive of interest shall be as specified in the Table given below for certificate of the denomination of Rs. 1,000 and at proportionate rate for any other denomination, namely:— Table Period from the date of issue of the certificate to the date of its encashment Amount payable inclusive of interest (in Rupees) 1. 2 years 6 months or more but less than 3 years 1,170.51 2. 3 years or more but less than 3 years 6 months 1,207.95 3. 3 years 6 months or more but less than 4 years 1,267.19 4. 4 years or more but less than 4 years 6 months 1,310.80 5. 4 years 6 months or more but less than 5 years 1,355.90 6. 5 years or more but less than 5 years 6 months 1,435.63 7. 5 years 6 months or more but less than 6 years 1,488.49 8. 6 years or more but less than 6 years 6 months 1,543.30 9. 6 years 6 months or more but less than 7 years 1,649.13 10. 7 years or more but less than 7 years 6 months 1,713.82 11. 7 years 6 months or more but less than 8 years 1,781.06 12. 8 years or more but less than 8 years 7 months 1,850.93