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TMI BlogPREMATURE ENCASHMENT - 8% SAVINGS (TAXABLE) BONDS, 2003.X X X X Extracts X X X X X X X X Extracts X X X X ..... he date of issue. Premature encashment was not permissible under this scheme. 2. The Government of India has now vide Notifications dated July 29, 2013 and August 16, 2013, decided to provide the facility of premature encashment of these bonds to individual investors in the age group of sixty years and above, after a minimum lock-in period of three years from the date of issue as indicated below: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8th or 6th half-year as applicable, corresponding to the respective lock-in period, however, encashment payment will be made on the following interest payment due date. Thus, the effective date of premature encashment for the eligible investors, in case of Non-Cumulative bonds will be 1st August and 1st February every year after completion of the lock-in period as per the eligibility criteria and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... provisions for premature encashment as under: (i) Premature encashment means encashment of entire amount invested through any single application for 8% Savings (Taxable) Bonds, 2003, which has completed minimum lock-in period, as per the eligibility criteria from the date of issue. As such, investors can be allowed to withdraw entire amount of investment made on any single application. However, i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s being obtained now, for the full amount to be prematurely encashed. 6. The premature encashment of investment may be allowed even after despatch of interest warrant, but such requests, received after despatch of interest warrants, must be accompanied by the interest warrant of latest half-year issued to the investor. However, in cases where interest warrants have already been despatched, but no ..... X X X X Extracts X X X X X X X X Extracts X X X X
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