Para 6 - Interest on deposits - National Savings Scheme Rules, 1992

Interest on deposits. 6. [(1) (i) For the period commencing from the [1st day of October, 1992] to the 14th day of January, 2000, the interest at the rate of eleven per cent per annum shall be allowed for a calendar month on the lowest balance at credit of an account between the close of the tenth day and the end of the month and such interest shall be calculated and credited in the account at the end of each year. [(ii) For the period commencing from the 15th day of January, 2000, but before the 1st day of March, 2001, the interest at the rate of ten-and-a-half per cent per annum shall be allowed for a calendar month on the lowest balance at credit of an account between the close of the tenth day and the end of the month and such interest shall be calculated and credited in the account at the end of each year. [(iii) For the period commencing from the 1st day of March, 2001 but before the 1st day of March, 2002, the interest at the rate of nine per cent per annum shall be allowed for a calendar month on the lowest balance at credit of an account between the close of the tenth day and the end of the month and such interest shall be calculated and credited in the account at the end of each year.] [ (iv) For the period commencing from the 1st day of March, 2002 but before the 1st day of March, 2003, the interest at the rate of eight-and-a half per cent per annum shall be allowed for a calendar month on the lowest balance at credit of an account between the close of the tenth day and the end of the month and such interest shall be calculated and credited to the account at the end of each year. (v) On and from the 1 st day of March, 2003, the interest at the rate of seven-and-a half per cent per annum shall be allowed for a calendar month on the lowest balance at credit of an account between the close of the tenth day and the end of the month and such interest shall be calculated and credited in the account at the end of each year. ] ] (2) Where the interest contains part of a rupee and if such a part is fifty paise or more, it shall be increased to one complete rupee and if such part is less than fifty paise, it shall be ignored.