National Savings Certificates: maturity set at five years for purchases from July 1, 2017 with specified interest accrual. Certificates purchased on or after 1 July 2017 have a five-year maturity from date of issue; annual interest for a Rs.100 denomination accrues at 7.80, 8.41, 9.06, 9.77 and 10.55 rupees in years one through five, with interest accrued up to the end of the fourth year deemed reinvested and aggregated with face value; amount payable on encashment after maturity is Rs.145.58 for Rs.100 denomination, with proportionate rates for other denominations.
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Provisions expressly mentioned in the judgment/order text.
National Savings Certificates: maturity set at five years for purchases from July 1, 2017 with specified interest accrual.
Certificates purchased on or after 1 July 2017 have a five-year maturity from date of issue; annual interest for a Rs.100 denomination accrues at 7.80, 8.41, 9.06, 9.77 and 10.55 rupees in years one through five, with interest accrued up to the end of the fourth year deemed reinvested and aggregated with face value; amount payable on encashment after maturity is Rs.145.58 for Rs.100 denomination, with proportionate rates for other denominations.
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