National Savings Scheme (Amendment) Rules, 2000 - G.S.R 46(E) - Income Tax

National Savings Scheme interest revised to 10.5% p.a., calculated monthly on lowest balance and credited annually.

Amendment substitutes rule 6(1) to set the interest rate at ten and a half per cent per annum from the date of notification, with interest allowed for each calendar month on the lowest balance between the close of the tenth day and the month end, and calculated and credited to the account at the end of each year; previously the rate for 15 September 1992 to 14 January 2000 had been eleven per cent per annum.