National Savings Certificates: five-year maturity with specified annual accruals and staged encashment amounts for purchases from April 1, 2013. Certificates purchased on or after 1 April 2013 have a five year maturity; the maturity encashment for Rs.100 is Rs.151.62 with proportionate rates for other denominations. Interest for a Rs.100 certificate accrues yearly (First 8.68; Second 9.43; Third 10.25; Fourth 11.14; Fifth 12.11 rupees) and interest accrued each year up to end of the fourth year is deemed reinvested and aggregated with face value.
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Provisions expressly mentioned in the judgment/order text.
National Savings Certificates: five-year maturity with specified annual accruals and staged encashment amounts for purchases from April 1, 2013.
Certificates purchased on or after 1 April 2013 have a five year maturity; the maturity encashment for Rs.100 is Rs.151.62 with proportionate rates for other denominations. Interest for a Rs.100 certificate accrues yearly (First 8.68; Second 9.43; Third 10.25; Fourth 11.14; Fifth 12.11 rupees) and interest accrued each year up to end of the fourth year is deemed reinvested and aggregated with face value.
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