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[Cites 0, Cited by 0] [Section 7] [Entire Act]

Union of India - Subsection

Section 7(1) in National Savings Recurring Deposit Scheme, 2019

(1)In an account which has not become a discontinued account under paragraph 6, deposits for not less than six monthly instalments may be made in advance in any month at the option of the account holder and rebate on such deposits shall be admissible as follows:-
S.No. Number of advance deposits Rebate for an account of one hundred rupeesdenomination
(1) (2) (3)
1. Six or more deposits but not exceeding elevendeposits made in any calendar month. Ten rupees.
2 Twelve or more deposits made in any calendarmonth. Forty rupees for every twelve deposits and tenrupees for the balance, if any, of not less than six deposits.