The rate of interest is
- 8.0% (8.1% on certificates issued during 1.4.2016 to 30.9.2016, 8.5% on certificate issued during F.Ys.2013-14 to 2015-16,
- 8.6% on certificates issued during F.Y. 2012-13, 8.4% on certificates issued during 1.12.2011 to 31.3.2012 and
- 8% on certificates issued up to 30.11.2011.
- On certificate issued w.e.f. 1.4.2016, interest shall be compounded yearly.
- On certificates issued up to 31.3.2016 interest shall be compounded half-yearly. The amount of interest accruing on a certificate of Rs.100 shall be as follows:
NSC’s VIII Issue Interest Accrual Table Chart
The amount of interest accruing on certificates of other denominations shall be proportionate to the amount specified above. `
Post Maturity Interest: Where, on maturity, the amount has become due but not paid, it shall carry interest from the date of maturity up to the date of repayment (subject to a maximum of two years) at the prevailing POSB A/c rate.
Maturity Period: A certificate shall mature after fiver years. (Six years for certificates issued upto 30.11.2011) from the date of the certificate. The amount payable on maturity for a certificate of Rs.100 denomination (proportionately for other certificates), shall be
|For NSC certificates issued up to 30.11.2016||Rs.160.10|
|For NSC certificates issued during 1.12.2011 to 31.3.2012||Rs.150.90|
|For NSC certificates issued during F.Y. 2012-13||Rs.152.35|
|For NSC certificates issued during 1.4.2013 to 31.3.2016||Rs.151.62|
|For NSC certificates issued during 1.4.2016 to 30.9.2016||Rs.147.61|
|For NSC certificates issued during 1.10.2016 to 31.3.2017||Rs.146.93|
The amount payable on maturity shall be rounded off to the nearest rupee.
NSC Certificate Premature Encashment: Premature encashment of a certificate (any time before 6 years) is allowed under specific circumstances only like
- death of holder(s)
- forfeiture by a pledgee being a Gazetted officer under court notice.
No interest is payable on encashment within one year. After one year and before 3 years, simple interest is payable a the POSB rate (at present 4%) for the completed months only. The amount payable for a certificate of Rs.100 denomination, on encashment after three years as follow:
|Amount Payable On||Completed Period (Yrs)|
|Certificate issued up to 30.11.2011||121.15||125.09||129.16||133.36||137.69||142.16|
|Certificate issued during 1.12.2011 to 31.3.2012||123.14||127.49||131.99||136.65||–||–|
|Certificate issued during F.Y.2012-13||124.60||129.26||134.08||139.09||–||–|
|Certificate issued during 1.4.2013 to 31.3.2016||124.24||128.81||133.56||138.48||–||–|
|Certificate issued during 1.4.2016 to 30.9.2016||122.85||127.13||131.57||136.16||–||–|