Launch of 10 Year National Savings Certificate - National Savings Certificates (IX Issue) Rules, 2011 Notified
THE Notification for launch of a new savings instrument, namely 10-Year National Savings Certificate (IX-Issue), 2011, was issued yesterday i.e. November 29, 2011.
The major highlights of this scheme are as follows:
++ Investments in Certificate will earn Interest at the rate of 8.7% p.a. compounded semi-annually.
++ On investment of Rs. 100, the depositor will get Rs. 234.35 on maturity of the Certificate.
++ This Certificate will be available in the denominations of Rs. 100, Rs. 500, Rs. 1000, Rs. 5000 and Rs. 10,000.
++ There is no upper limit for investment in the Certificate.
++ This Certificate can be transferred from a post office where it is registered to any other post office and it can be pledged as a security.
The scheme will come into effect from 1st December 2011.