P.O. S.B. Manual Vol. III - India Post

(3) Notwithstanding anything contained in sub-rules (1) and (2), the maturity period of acertificate purchased on or after the 24 th day of April, 1992 shall be five years commencing on the dateof the certificate. The amount, inclusive of interest, payable on encashment of the certificate at any timeafter the expiry of its maturity period shall be Rs. 2000/- for a denomination of Rs.1000/- and atproportionate rate for any other denomination.(4) Notwithstanding anything contained in sub-rules (1) and (3), the matur ity period of acertificate purchased on or after the 2 nd day of September, 1993 shall be five years and six monthscommencing on the date of the certificate. The amount, inclusive of interest, payable on encashment ofthe certificate at any time after the expiry of its maturity period shall be Rs. 2000/- for a denomination ofRs.1000/ - and at proportionate rate for any other denomination.(5) Notwithstanding anything contained in sub-rules (1) and (4), the maturity period of acertificate purchased on or after the 1 st January, 1999 shall be six years commencing on the date of thecertificate. The amount, inclusive of interest, payable on encashment of the certificate at any time afterthe expiry of its maturity period shall be Rs. 2000/- for a denomination of Rs.1000/ - and at proportionaterate for any other denomination.(6) Notwithstanding anything contained in sub-rules (1) and (5), the maturity period of acertificate purchased on or after the 15 th day of January, 2000 but before the 1 st March, 2001 shall besix years and six months commencing on the date of the certificate. The amount, inclusive of interest,payable on encashment of the certificate at any time after the expiry of its maturity period shall be Rs.2000/- for a denomination of Rs.1000/ - and at proportionate rate for any other denomination.(7) Notwithstanding anything contained in sub-rules (1) and (6), the maturity period of acertificate purchased on or after the 1 st day of March, 2001 but before the 1 st of March, 2002 shall beseven years and three months commencing on the date of the certificate. The amount, inclusive ofinterest, payable on encashment of the certificate at any time after the expiry of its maturity period shallbe Rs. 2000/- for a denomination of Rs.1000/- and at proportionate rate for any other denomination.87(8) Notwithstanding anything contained in sub-rules (1) and (7), the maturity period of acertificate purchased on or after the 1 st day of March, 2002 but before the 1 st of March, 2003 shall beseven years and eight months commencing on the date of the certificate. The amount, inclusive ofinterest, payable on encashment of the certificate at any time after the expiry of its maturity period shallbe Rs. 2000/- for a denomination of Rs.1000/- and at proportionate rate for any other denomination.(9) Notwithstanding anything contained in sub-rules (1) and (8), the maturity period of acertificate purchased on or after the 1 st day of March, 2003 shall be eight years and seven monthscommencing on the date of the certificate. The amount, inclusive of interest, payable on encashment ofthe certificate at any time after the expiry of its maturity period shall be Rs. 2000/- for a denomination ofRs.1000/ - and at proportionate rate for any other denomination.12A. Payment of heirs:- (1) If a person who is the holder of a Savings Certificates, dies and thereis no nomination in force at the time of his death and probate of his will or letters of administration of hisestate or a succession certificate granted under the Indian Succession Act, 1925 (39 0f 1925) is not,within three months of the death of the holder, produced to the authority specified in the Table to subrule(2), and if the sum due on all Savings Certificates does not exceed one lakh rupees (inclusive of thesum due on the Savings Certificates issued from time to time and held by the deceased), the authoritymentioned in the said Table may pay the same to any person appearing to it to be entitled to receive thesum or to administer the estate of the deceased.(2) The authorities specified in the Table below shall be competent to sanction claims upto thelimit noted against each on the death of the holder of the Savings Certificates without production of theprobate of his will or letters of administra tion of his estate or succession certificate granted under theIndian Succession Act, 1925 (39 0f 1925).