Complete information of Post office National Savings Certificate

Complete information of Post office National Savings Certificate

Please find below the details of post office MIS



Minimum INR. 100/- No maximum limit available in denominations of INR. 100/-, 500/-, 1000/-, 5000/- & INR. 10,000/-.



8% Interest compounded six monthly but payable at maturity. INR. 100/- grows to INR 160.10 after 6 years.



One person can be nominated for certificates of denomination of INR 100 and more than one person can be nominated for higher denominations.



Maturity period is 6 years. No premature encashment is permitted in the normal course.



PREMATURE ENCASHMENT under sub-rule (1) of rule 16 after the expiry of three years from the date of purchase of certificate. Table below for a certificate of INR 100 denomination and at a proportionate rate for a certificate of any other denomination.



A single holder type certificate can be purchased by an adult for himself or on behalf of a minor or to a minor. Deposits quality for tax rebate under Sec. 80C of IT Act.



The interest accruing annually but deemed to be reinvested will also qualify for deduction under Section 80C of IT Act.



Interest Rate



Period during which purchased                   



From                              To                             MATURITY VALUE

                                                                        FOR A DENOMINATION

                                                                         OF INR 100.00



01.01.1999                   14.01.2000                     INR 195.60



15.01.2000                   28.02.2001                      INR 190.12



01.03.2001                   28.02.2002                       INR 174.52



01.03.2002                   28.02.2003                         INR 169.59



01.03.2003                    onwards                             INR 160.10

SOURCE;ASSET TREAT