National Savings Scheme: balances from 1 October 2024 bear no interest; earlier balances earned 7.5% interest credited annually. The amendment to rule 6(1) provides that for the period from 1 March 2003 until before 1 October 2024 balances earn interest at seven-and-a-half per cent per annum on the lowest balance between the close of the tenth day and month, with interest calculated and credited annually; and that balances on or after 1 October 2024 shall bear no interest.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
National Savings Scheme: balances from 1 October 2024 bear no interest; earlier balances earned 7.5% interest credited annually.
The amendment to rule 6(1) provides that for the period from 1 March 2003 until before 1 October 2024 balances earn interest at seven-and-a-half per cent per annum on the lowest balance between the close of the tenth day and month, with interest calculated and credited annually; and that balances on or after 1 October 2024 shall bear no interest.
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