The 10-Year National Savings Certificate (IX-Issue), 2011 is being launched from December 1, 2011. The new scheme was part of the recommendations for higher rate of interest for small savings schemes.

The Notification for launch of new savings instrument, namely 10-Year National Savings Certificate (IX-Issue), 2011, has been issued  on the 29^thNovember, 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 1^st December 2011.

Please Search Here for more stories of your interest. Thanks.

Subscribe to our feed and get updates in your email inbox Send your feedback and any questions to editor@personalfinance201.com. Thanks.