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

Union of India - Subsection

Section 7(4) in National Savings Certificates (VIII Issue) Scheme, 2019

(4)If an account is prematurely closed under sub-paragraph (1) after the expiry of three years from the date of the opening, the amount payable, inclusive of interest accrued under paragraph 5 for a deposit of one thousand rupees and at a proportionate rate for other amounts of deposits, shall be as specified in the table below:-TABLE(Table showing premature closure value of account opened on or after date of notification with 1000 rupees)
Period from the date of the account to thedate of its pre-mature closure Amount payable inclusive of interest (Rupees)
(1) (2)
Three years or more, but less than three yearsand six months 1221.61
Three years and six months or more, but lessthan four years 1263.05
Four years or more, but less than four years andsix months 1305.90
Four years and six months or more, but less thanfive years 1350.20