The rate of interest is. 7.6% (7.8% on certificates issued during 1-7-2017 to. 7.9% on certificates issued during 1.4-2017 to 30-6-2017. 8.0% on certificates issued during 1.-10-2016 to 31-3-2017. 8.1% on certificates issued during 1-4-2016 to 30-9-2017.
8.5% on certificates issued during F.Y.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. 8.0% on certificates issued up to On certificates 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 certificates of other denominations shall be proportionate to the amount specified above.
From January 1, 2018, interest rates are Post Office RD accounts are as follows: 6.9 per cent per annum (quarterly compounded) On maturity, a Rs 10 account fetches Rs 717.43.
Post Maturity InterestWhere, 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 PeriodA certificate shall mature after five years. (Six years for certificates issued upto ) 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 certificates issued upto Rs. 160.10For certificates issued during 1.12.2011 to 31.3.2012Rs.
150.90For certificates issued during F.Y. 152.35For certificates issued during 1.4.2013 to 31.3.2016Rs. 151.62For certificates issued during 1.4.2016 to 30.9.2016Rs. 147.61For certificates issued during 1.10.2016 to 31.3.2017Rs.
146.93For certificates issued during 1.4.2017 to 30.6.2017Rs. 146.25For certificates issued during 1.7.2017 to Rs.
145.58For certificates issued during 1.1.2018 to 31.3.2018Rs. 144.23The amount payable on maturity shall be rounded off to the nearest rupee. NSC Certificate Premature EncashmentPremature 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: Completed Period (Yrs.)/ Amount payable on33-1/244-1/2Certificate issued during F.Y. 2012-9.9.09Certificate issued during 1.4.2016 to 30.9.208.8.48Certificate issued during 1.4.2016 to 30.9.207.6.16Certificate issued during 1.10.2016 to 31.3.206.5.59Certificate issued during 1.4.2017 to 30.6.206.5.02Certificate issued during 1.7.2017 to 121.0.10134.45Certificate issued during 1.1.2018 to 31.3.205.9.32. Siri had four NSC in 2002 of face value 27000 rupees which were to mature in 2008. I had given these to my brother as collateral for his MSIL chit.
Later my brother left me and he has not returned these NSC. He has not given me letter of pledge to MSIL his loan account of these NSCs. When i checked with MSIL chit company they have adjusted proceeds of these NSC to his chit amount, without intimation to me. What shall i do. My brother absconding and not returned either money or NSC. Please advise. S.DAS.I have purchased from my retirement benefit on 6.2.2017, 5 nos of NSC VIII issue @ Rs.1.00 lac each.
Prevailing interest rate was 7.90% at that time. Interest earned from NSC is taxable in the hands of I.T assessee. I now want to know the three methods to calculate my accrued interest to declare my interest income from 17-18 onwards as well as deduction under Sec.80C.
Also please let me know is it required to strict only one principal method of calculation for all the NSC purchase on 6.2.17 as mentioned above or may take separate method of int calculation for each purchase during the entire period of investment. Hello Sir,I have a query regarding maturity amount of my NSCs. I had purchased 5 numbers of 6 years of NSCs(8th issue) for principal amount of 5000 each from post office, punjab. I had paid Rs 25,000 in total. On each certificate it is printed that Rs.
10,075 against Rs.5,000 willbe given at the time of maturity. But at the time of maturity, I recieved a cheque of 40,025 rupees only instead of 50,375 (as per printed) on the certificates. Please tell me if it is wrongly calculated or not?Thanks.