9911796707
TMI BlogPremature encashmentX X X X Extracts X X X X X X X X Extracts X X X X ..... payable. (3) If a certificate is encashed under sub-rule (1) after expiry of one year but before the expiry of three years from the date of certificate, the encashment shall be at a discount. On encashment of the certificate, an amount equivalent to the face value of the certificate together with simple interest shall be payable. Such simple interest shall be calculated on the face value at the rate applicable from time to time to single accounts under the Post Office Savings Account Rules, 1981, for the complete months for which the certificate has been held. The difference between the aforesaid simple interest and the interest accruing under rule 15 shall be deemed to be the discount. 1 [ (4)(i) ] If a certificate is encashed under sub-r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ut before the 1st day of April, 2014 ]] , the amount payable, inclusive of interest accrued under rule 15 and after adjustment of discount, shall be as specified in the Table below for a certificate of Rs. 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 Amount payable inclusive of interest (Rupees) (1) (2) 3 years or more, but less than 3 years and 6 months 124.60 3 years and 6 months or more, but less than 4 years 129.26 4 years or more, but less than 4 years and 6 months 134.08 4 years and 6 months or more, but less than 5 years 139.09 5 years or more, but less than 5 years and 6 months 145.20 5 years and 6 months or more, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ess than 7 years 161.38 7 years or more, but less than 7 years and 6 months 167.43 7 years and 6 months or more, but less than 8 years 173.71 8 years or more, but less than 8 years and 6 months 180.22 8 years and 6 months or more, but less than 9 years 186.98 9 years or more, but less than 9 years and 6 months 193.99 9 years and 6 months or more, but less than 10 years 201.27] 6 [ (iv) If a certificate is encashed under sub-rule (1) after the expiry of three years from the date of certificate purchased on or after the 1st day of April 2014, the amount payable, inclusive of interest accrued under rule 15 and after adjustment of discount, shall be as specified in the Table below for a certificate of Rs. 100 denomination and at a proportionate ..... X X X X Extracts X X X X X X X X Extracts X X X X
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