The recommendations of the committee for comprehensive review of National Small Savings Fund (NSSF) dated 11th November, 2011, the small saving instruments interest rates have been changed as an enhance. This changes makes by the Ministry of Finance on Long Time. The Reserve Bank of India, Notifications on changes made in various small saving schemes except 10-Year National Savings Certificate, have already been issued on 25th November 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
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