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[Cites 0, Cited by 0] [Section 16] [Entire Act]

Union of India - Subsection

Section 16(4) in National Savings Certificates (VIII Issue) Rules, 1989

(4)
(i)If a certificate is encashed under sub-rule (1) after expiry of three years from the date of certificate purchased before the 1st day of March 2001, the amount payable, inclusive of interest accrued under rule 15 and after adjustment of discount, shall be as specified in the Table given below for a certificate of Rs. 100 denomination and at a proportionate rate for a certificate of any other denomination.
Period from the date of the certificate to thedate of its encashment Amount payable of interest (in)
1. 3 years or more but less than 3 years and 6months 132.00
2. 3 years and 6 months or more but less than 4years 138.50
3. 4 years or more but less than 4 years and 6months 145.00
4. 4 years and 6 months or more but less than 5years 152.00
5. 5 years or more but less than 5 years and 6months 159.00
6. 5 years and 6 months or more but less than 6years 166.50
(ii)If a certificate is encashed under sub-rule (1) after expiry of three years from the date of certificate purchased on or after the 1st day of March 2001 but before the 1st day of March 2002, the amount payable, inclusive of interest accrued under rule 15 and after adjustment of discount, shall be as specified in the Table given below for a certificate of Rs. 100 denomination and at a proportionate rate for a certificate of any other denomination.
Period from the date of the certificate to thedate of its encashment Amount payable inclusive of interest (inrupees)
1. 3 years or more but less than 3 years and 6months 126.43
2. 3 years and 6 months or more but less than 4years 131.71
3. 4 years or more but less than 4 years and 6months 136.90
4. 4 years and 6 months or more but less than 5years 142.48
5. 5 years or more but less than 5 years and 6months 147.98
6. 5 years and 6 months or more but less than 6years 153.89
(iii)If a certificate is encashed under sub-rule (1) after expiry of three years from the date of certificate purchased on or after the 1st day of March 2002 but before the 1st day of March 2003, the amount payable, inclusive of interest accrued under rule 15 and after adjustment of discount, shall be as specified in the Table given below for a certificate of Rs. 100 denomination and at a proportionate rate for a certificate of any other denomination.
[Period from the date of the certificate to thedate of its encashment [Substituted by Notification No. G.S.R. 711(E), dated 17.10.2002 (w.e.f. 8.5.1989).] Amount payable inclusive of interest (Rupees)
1. 3 years or more but less than 3 years and 6months 124.72
2. 3 years and 6 months or more but less than 4years 129.39
3. 4 years or more but less than 4 years and 6months 134.25
4. 4 years and 6 months or more but less than 5years 139.28
5. 5 years or more but less than 5 years and 6months 144.50
6. 5 years and 6 months or more but less than 6years 149.92]
[Inserted by Notification No. G.S.R. 501(E), dated 16.7.2019 (w.e.f. 8.5.1989).]
(iv)If a certificate is encashed under sub-rule (1) after expiry of three years from the date of certificate purchased on or after the [1st day of December, 2011,] [Substituted '1st day of March, 2003' by Notification F.NO.1/7/2011-NS-II, dated 25.11.2011 (w.e.f. 8.5.1989).], the amount payable, inclusive of interest accrued under rule 15 and after adjustment of discount, shall be as specified in the Table given below for a certificate of Rs. 100 denomination and at a proportionate rate for a certificate of any other denomination.
Period from the date of the certificate to thedate of its encashment Amount payable inclusive of interest (inrupees)
1. 3 years or more but less than 3 years and 6months 121.15
2. 3 years and 6 months or more but less than 4years 125.09
3. 4 years or more but less than 4 years and 6months 129.16
4. 4 years and 6 months or more but less than 5years 133.36
5. 5 years or more but less than 5 years and 6months 137.69
6. 5 years and 6 months or more but less than 6years 142.16
(v)[ 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 December, 2011 [1st day of April, 2012] [Inserted by Notification F.NO.1/7/2011-NS-II, dated 25.11.2011 (w.e.f. 8.5.1989).], 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.
Period from the date of the certificate to thedate of its encashment Amount payable inclusive of interest (Rupees)
(1) (2)
Three years or more, but less than three yearsand six months 123.14
Three years and six months or more, but lessthan four years 127.49
Four years or more, but less than four years andsix months 131.99
Four years and six months or more, but less thanfive years 136.65]
[Inserted by Notification No G.S.R. 163(E), dated 1.3.2002 (w.e.f. 8.5.1989).]
(vi)[ 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, 2013] [Inserted by Notification No. G.S.R. 318(E), dated 25.4.2012 (w.e.f. 8.5.1989).], 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.
Period from the date of the certificate to thedate of its encashment Amount payable inclusive of interest (Rupees)
(1) (2)
Three years or more, but less than three yearsand six months 124.60
Three years and six months or more, but lessthan four years 129.26
Four years or more, but less than four years andsix months 134.08
Four years and six months or more, but less thanfive years 139.09]
(vii)[ 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] [Inserted by Notification No. G.S.R. 397(E), dated 25.6.2013 (w.e.f. 8.5.1989).], 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.
Period from the date of the certificate to thedate of its encashment Amount payable inclusive of interest (Rupees)
(1) (2)
Three years or more, but less than three yearsand six months 124.24
Three years and six months or more, but lessthan four years 128.81
Four years or more, but less than four years andsix months 133.56
Four years and six months or more, but less thanfive years 138.48]
(viii)[ 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 2016] [Inserted by Notification No. G.S.R. 494(E), dated 11.7.2014 (w.e.f. 8.5.1989).], 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 thedate of its encashment Amount payable inclusive of interest (Rupees)
(1) (2)
Three years or more, but less than three yearsand six months 124.24
Three years and six months or more, but lessthan four years 128.81
Four years or more, but less than four years andsix months 133.56
Four years and six months or more, but less thanfive years 138.48]
(ix)[ 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 October, 2016] [Inserted by Notification No. G.S.R. 354(E), dated 29.3.2016 (w.e.f. 8.5.1989).], 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 thedate of its encashment Amount payable inclusive of interest (Rupees)
(1) (2)
Three years or more, but less than three yearsand six months 122.85
Three years and six months or more, but lessthan four years 127.13
Four years or more, but less than four years andsix months 131.57
Four years and six months or more, but less thanfive years 136.16]
(x)[ 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 2017] [Inserted by Notification No. G.S.R. 944(E), dated 30.9.2016 (w.e.f. 8.5.1989).], 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 thedate of its encashment Amount payable inclusive of interest (Rupees)
(1) (2)
Three years or more, but less than three yearsand six months 122.50
Three years and six months or more, but lessthan four years 126.72
Four years or more, but less than four years andsix months 131.08
Four years and six months or more, but less thanfive years 135.59]
(xi)[ 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 July 2017] [Inserted by Notification No. G.S.R. 382(E), dated 31.3.2017 (w.e.f. 8.5.1989).], 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 thedate of its encashment Amount payable inclusive of interest (Rupees)
(1) (2)
Three years or more, but less than three yearsand six months 122.16
Three years and six months or more, but lessthan four years 126.31
Four years or more, but less than four years andsix months 130.59
Four years and six months or more, but less thanfive years 135.02]
(xii)[ 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 October, 2017] [Inserted by Notification No. G.S.R. 863(E), dated 30.6.2017 (w.e.f. 8.5.1989).], 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 thedate of its encashment Amount payable inclusive of interest (Rupees)
(1) (2)
Three years or more, but less than three yearsand six months 121.82
Three years and six months or more, but lessthan four years 125.89
Four years or more, but less than four years andsix months 130.10
Four years and six months or more, but less thanfive years 134.45]
(xiii)[ 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 October, 2018] [Inseretd by Notification No. G.S.R. 30(E), dated 1.1.2018 (w.e.f. 8.5.1989).], 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 thedate of its encashment Amount payable inclusive of interest (Rupees)
(1) (2)
Three years or more, but less than three yearsand six months 121.14
Three years and six months or more, but lessthan four years 125.07
Four years or more, but less than four years andsix months 129.13
Four years and six months or more, but less thanfive years 139.32]
(xiv)[ 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 July, 2019] [Inseretd by Notification No. G.S.R. 957(E), dated 28.9.2018 (w.e.f. 8.5.1989).], 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 thedate of its encashment Amount payable inclusive of interest (Rupees)
(1) (2)
Three years or more, but less than three yearsand six months 122.50
Three years and six months or more, but lessthan four years 126.72
Four years or more, but less than four years andsix months 131.08
Four years and six months or more, but less thanfive years 135.59]
(xv)[ 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 July 2019, 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 `100 denomination and at a proportionate rate for a certificate of any other denomination. [Inserted by Notification No. G.S.R. 501(E), dated 16.7.2019 (w.e.f. 8.5.1989).]
Table
Period from the date of the certificate to thedate of its encashment Amount payable inclusive of interest (Rupees)
(1) (2)
Three years or more, but less than three yearsand six months 122.16
Three years and six months or more, but lessthan four years 126.31
Four years or more, but less than four years andsix months 130.59
Four years and six months or more, but less thanfive years 135.02]