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[Cites 0, Cited by 0] [Section 11] [Entire Act]

Union of India - Subsection

Section 11(2) in National Savings Recurring Deposit Scheme, 2019

(2)On closure of the account at the expiry of the further period referred to in sub-paragraph (1), the account holder shall be entitled to receive repayment as specified in Table - 1 below:-Table 1
Further period for which account is retained Amount due
(1) (2)
(i) If the further period is less than one year. The amount due under sub- paragraph (1) ofparagraph9 together with interest on such amount for the completemonths in the further period.
(ii) If the further period consists of completeyears only. The amount specified in Table IV.
(iii) If the further period consists ofcompleted years not exceeding four and a part of the yearthereafter. The amount referred to in item (ii), relevant tothe number of completed years together with interest on suchamount for the complete months in the partial year.
Table 2(Amount inclusive of interest repayable on an account opened on or after day of notification of this gazette and continued without any fresh monthly deposit beyond the maturity period or maturity period as extended under sub-paragraph (1) of paragraph 11.)
Number of completed years for which theaccount continued Amount (Rupees) repayable on an account of 100rupees denomination
One year 7766.26
Two years 8340.71
Three years 8957.65
Four years 9620.23
Five years 10331.81
Amount repayable inclusive of interest on an account of any other denomination shall be proportionate to the amount specified in the table.