TMI BlogPremature encashmentX X X X Extracts X X X X X X X X Extracts X X X X ..... e, only the face value of the certificate shall be payable. (3) If a certificate is encashed under sub-rule (1) after expiry of one year but before the expiry of three years from the date of certificate, the encashment shall be at a discount. On encashment of the certificate, an amount equivalent to the face value of the certificate together with simple interest shall be payable. Such simple interest shall be calculated on the face value at the rate applicable from time to time to single accounts under the Post Office Savings Account Rules, 1981, for the complete months for which the certificate has been held. The difference between the aforesaid simple interest and the interest accruing under rule 15 shall be deemed to be the discount. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rule 15 and after adjustment of discount, shall be as specified in the Table below for a certifi cate of ₹ 100 denomination and at a proportionate rate for a certificate of any other denomination. Table Period from the date of the certificate to the date of its encashment Amount payable inclusive of interest (Rupees) Three years or more, but less than three years and six months 126.43 Three years and six months or more, but less than four years 131.71 Four years or more, but less than four years and six months 136.90 Four years and six months or more, but less ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 149.92.]] [(iv) If a certificate is encashed under sub-rule (1) after the expiry of three years from the date of certificate purchased on or after the 1 [ 1st day of March, 2003 but before the 1st day of December, 2011 ] , the amount payable, inclusive of interest accrued under rule 15 and after adjustment of discount, shall be as specified in the Table below for a certificate of ₹ 100 denomination and at a proportionate rate for a certificate of any other denomination. TABLE Period from the date of the certificate to the date of its encashment Amount payable inclusive of interest (Rupees) Three years or more, but less than three years an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Four years or more, but less than four years and six months 131.99 Four years and six months or more, but less than five years 136.65 ] 4 [ ( vi ) If a certificate is encashed under sub-rule (1) after the expiry of three years from the date of certificate purchased on or after the 1st day of April, 2012, the amount payable, inclusive of interest accrued under rule 15 and after adjustment of discount, shall be as specified in the Table below for a certificate of ₹ 100 denomination and at a proportionate rate for a certificate of any other denomination. TABLE Period from the date of the certificate to the date of its encashment ..... X X X X Extracts X X X X X X X X Extracts X X X X
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