Social Security Certificates: ten-year small-savings bonds with purchase eligibility, Rs.5,000 holding limit, pledge and nomination rules. Social Security Certificates are ten-year instruments issued in Rs. 500 and Rs. 1000 denominations, purchasable by persons aged 18-45 subject to health, identity and insurance-history declarations and a maximum aggregate holding of Rs. 5,000. Certificates are issued on payment (or on encashment of payment instruments), may be pledged to prescribed public or financial institutions with endorsements, and duplicates may be issued on loss subject to indemnity or guarantee. Interest accrues annually and is aggregated for maturity value; premature encashment is permitted after three years at a discount, and nominee or heir entitlements and nomination procedures are prescribed.
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Social Security Certificates: ten-year small-savings bonds with purchase eligibility, Rs.5,000 holding limit, pledge and nomination rules.
Social Security Certificates are ten-year instruments issued in Rs. 500 and Rs. 1000 denominations, purchasable by persons aged 18-45 subject to health, identity and insurance-history declarations and a maximum aggregate holding of Rs. 5,000. Certificates are issued on payment (or on encashment of payment instruments), may be pledged to prescribed public or financial institutions with endorsements, and duplicates may be issued on loss subject to indemnity or guarantee. Interest accrues annually and is aggregated for maturity value; premature encashment is permitted after three years at a discount, and nominee or heir entitlements and nomination procedures are prescribed.
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