Complete information of Post office National Savings Certificate
Complete information of Post office National Savings Certificate Please find below the details of post office MIS Minimum INR. 100/- No maxi...
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Complete information of Post office National Savings Certificate
Please find below the details of post office MIS
Minimum INR. 100/- No maximum limit available in denominations of INR. 100/-, 500/-, 1000/-, 5000/- & INR. 10,000/-.
8% Interest compounded six monthly but payable at maturity. INR. 100/- grows to INR 160.10 after 6 years.
One person can be nominated for certificates of denomination of INR 100 and more than one person can be nominated for higher denominations.
Maturity period is 6 years. No premature encashment is permitted in the normal course.
PREMATURE ENCASHMENT under sub-rule (1) of rule 16 after the expiry of three years from the date of purchase of certificate. Table below for a certificate of INR 100 denomination and at a proportionate rate for a certificate of any other denomination.
A single holder type certificate can be purchased by an adult for himself or on behalf of a minor or to a minor. Deposits quality for tax rebate under Sec. 80C of IT Act.
The interest accruing annually but deemed to be reinvested will also qualify for deduction under Section 80C of IT Act.
Interest Rate
Period during which purchased
From To MATURITY VALUE
FOR A DENOMINATION
OF INR 100.00
01.01.1999 14.01.2000 INR 195.60
15.01.2000 28.02.2001 INR 190.12
01.03.2001 28.02.2002 INR 174.52
01.03.2002 28.02.2003 INR 169.59
01.03.2003 onwards INR 160.10
SOURCE;ASSET TREAT
Please find below the details of post office MIS
Minimum INR. 100/- No maximum limit available in denominations of INR. 100/-, 500/-, 1000/-, 5000/- & INR. 10,000/-.
8% Interest compounded six monthly but payable at maturity. INR. 100/- grows to INR 160.10 after 6 years.
One person can be nominated for certificates of denomination of INR 100 and more than one person can be nominated for higher denominations.
Maturity period is 6 years. No premature encashment is permitted in the normal course.
PREMATURE ENCASHMENT under sub-rule (1) of rule 16 after the expiry of three years from the date of purchase of certificate. Table below for a certificate of INR 100 denomination and at a proportionate rate for a certificate of any other denomination.
A single holder type certificate can be purchased by an adult for himself or on behalf of a minor or to a minor. Deposits quality for tax rebate under Sec. 80C of IT Act.
The interest accruing annually but deemed to be reinvested will also qualify for deduction under Section 80C of IT Act.
Interest Rate
Period during which purchased
From To MATURITY VALUE
FOR A DENOMINATION
OF INR 100.00
01.01.1999 14.01.2000 INR 195.60
15.01.2000 28.02.2001 INR 190.12
01.03.2001 28.02.2002 INR 174.52
01.03.2002 28.02.2003 INR 169.59
01.03.2003 onwards INR 160.10
SOURCE;ASSET TREAT