National Savings Certificates: five-year maturity for purchases from Jan 1, 2018, with prescribed annual interest and encashment amounts. Certificates purchased on or after 1 January 2018 have a five-year maturity from issue; Rs.100 redemption at maturity is Rs.144.23 (proportionate for other denominations). Annual interest for Rs.100 accrues as Rs.7.60, Rs.8.18, Rs.8.80, Rs.9.47 and Rs.10.19 for years one through five; interest accrued through year four is deemed reinvested and aggregated with face value. Specific tiered encashment amounts apply for encashment after three years, with proportionate rates for other denominations after discount adjustment.
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Provisions expressly mentioned in the judgment/order text.
National Savings Certificates: five-year maturity for purchases from Jan 1, 2018, with prescribed annual interest and encashment amounts.
Certificates purchased on or after 1 January 2018 have a five-year maturity from issue; Rs.100 redemption at maturity is Rs.144.23 (proportionate for other denominations). Annual interest for Rs.100 accrues as Rs.7.60, Rs.8.18, Rs.8.80, Rs.9.47 and Rs.10.19 for years one through five; interest accrued through year four is deemed reinvested and aggregated with face value. Specific tiered encashment amounts apply for encashment after three years, with proportionate rates for other denominations after discount adjustment.
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