Post office Recurring Deposit Rate of Interest and Maturity Amount, DATED 25-6-2013

Post office Recurring Deposit Rate of Interest and Maturity Amount for deposit made on or after 1st April 2013

TABLE 50  (See Rule 10)

Amount, inclusive of interest, payable on an account opened on or after the 1st,day of April, 2013 and continued, with monthly deposits, beyond the maturity period or maturity period as extended under sub-rule (1) of rule 7.

Number of completed years for which the account continued

Amount (Rupees) repayable on an account of Rs. 10 denomination

One year

933.77

Two years

1139.21

Three years

1362.24

Four years

1604.37

Five years

1867.24

Note: the amount repayable on an account of any other denomination shall be proportionate to the amount specified above.

TABLE 51

(See Rule 11)

Amount, inclusive of interest, repayable on an account opened on or after the 1st, day of April, 2013 and continued, without any fresh monthly deposits, beyond the maturity period or maturity period as extended under sub-rule (1) of rule 7.

Number of completed years for which the account continued

Amount (Rupees) repayable on an account of Rs. 10 denomination

One year

808.27

Two years

877.47

Three years

952.60

Four years

1034.17

Five years

1122.71

Note: The amount repayable on an account of any other denomination shall be proportionate to the amount specified above.

TABLE 52

(See Rule 12)

Amount, payable to legal heir or nominee on the death of the depositor in a Five Year Recurring Deposit Account opened on or after the 1st day of April, 2013.

Number of deposits made

Amount (Rupee) for denomination of Rs.10

Number, or deposits made

Amount (Rupees) for denomination of Rs.10

1 to 11

Deposits made

36

409.00

12

125.43

37

422.52

13

136.35

38

435.49

14

147.34

39

448.55

15

158.41

40

461.70

16

169.55

41

474.95

17

180.77

42

488.28

18

192.06

43

501.70

19

203.44

44

515.21

20

214.88

45

528.82

21

226.41

46

542.52

22

238.02

47

556.32

23

249.70

48

570.21

24

261.46

49

584.19

25

273.30

50

598.28

26

285.23

51

612.46

27

297.23

52

626.73

28

309.32

53

641.10

29

321.48

54

655.58

30

333.73

55

670.15

31

346.07

56

684.82

32

358.48

57

699.59

33

370.98

58

714.47

34

 383.57

59

729.45

35

396.24

60

744.53

Note: The amounts shall be proportionate for other denominations .

POST OFFICE RECURRING DEPOSIT (AMENDMENT) RULES, 2013 – AMENDMENT IN RULES 9, 10, 11 AND 12

NOTIFICATION NO.GSR 398(E) [F.NO.2/2/2013-NS-II], DATED 25-6-2013

In exercise of the powers conferred by Section 15 of the Government Savings Banks Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the Post Office Recurring Deposit Rules, 1981, namely: –

1. (1) These rules may be called the Post Office Recurring Deposit (Amendment) Rules, 2013.

(2) They shall deemed to have come into force on the 1st day of April, 2013.@

2. In the Post Office Recurring Deposit Rules, 1981 (hereinafter referred to as the said rules), in rule 9, –

(a)

in the Schedule under clause (a) of sub-rule (1), for the last entry, the following entries shall be substituted, namely:-
“From 1-4-2012 to 31-3-2013 (both dates inclusive) ….746.51
From 1-4-2013 onwards ….744.53″

(b)

in the Schedule under clause (a) of sub-rule (2), for the last entry, the following entries shall be substituted, namely:-
“From 1-4-2012 to 31-3-2013 (both dates inclusive) ….746.51
From 1-4-2013 onwards ….744.53″;

3. In rule 10 of the said rules, in sub-rule (2), in items (a) and (c), for the words and figures “Tables 1, 2, 11, 13, 17, 20, 22, 26, 29, 32, 35, 38, 41, 44 or 47”, the words and figures “Tables 1, 2, 11, 13, 17, 20, 22, 26, 29, 32, 35, 38, 41, 44, 47 or 50” shall be substituted.

4. In rule 11 of the said rules, in sub-rule (2), in items (b) and (c), for the words and figures “Tables 3, 4, 12, 14, 18, 21, 23, 27, 30, 33, 36, 39, 42, 45 or 48”, the words and figures “Tables 3, 4, 12, 14, 18, 21, 23, 27, 30, 33, 36, 39, 42, 45, 48 or 51” shall be substituted.

5. In rule 12 of the said rules, –

(a)

in sub-rule (1), in item (b), in sub-item (ii), for the words and figures “Tables 5, 6, 7, 8, 9 10, 15, 16, 19, 24, 25, 28, 31, 34, 37, 40, 43, 46 or 49”, the words and figures “Tables 5, 6, 7, 8, 9,10, 15, 16, 19,24,25,28,31,34,37,40,43,46, 49 or 52” shall be substituted.

(b)

in sub-rule (3) and sub-rule (4), for the words and figures “Tables 5, 6, 7, 8, 9, 10, 15, 16, 19, 24, 25, 28, 31, 34, 37, 40, 43, 46 or 49”, the words and figures “Tables 5, 6, 7, 8, 9, 10, 15, 16, 19, 24, 25, 28, 31, 34, 37, 40, 43, 46, 49 or 52” shall be substituted.

6. After Table 49 of the said rules, the following Tables shall be inserted, namely:—

“TABLE 50

(See Rule 10)

Amount, inclusive of interest, payable on an account opened on or after the 1st,day of April, 2013 and continued, with monthly deposits, beyond the maturity period or maturity period as extended under sub-rule (1) of rule 7.

Number of completed years for which the account continued

Amount (Rupees) repayable on an account of Rs. 10 denomination

One year

933.77

Two years

1139.21

Three years

1362.24

Four years

1604.37

Five years

1867.24

Note: the amount repayable on an account of any other denomination shall be proportionate to the amount specified above.

TABLE 51

(See Rule 11)

Amount, inclusive of interest, repayable on an account opened on or after the 1st, day of April, 2013 and continued, without any fresh monthly deposits, beyond the maturity period or maturity period as extended under sub-rule (1) of rule 7.

Number of completed years for which the account continued

Amount (Rupees) repayable on an account of Rs. 10 denomination

One year

808.27

Two years

877.47

Three years

952.60

Four years

1034.17

Five years

1122.71

Note: The amount repayable on an account of any other denomination shall be proportionate to the amount specified above.

TABLE 52

(See Rule 12)

Amount, payable to legal heir or nominee on the death of the depositor in a Five Year Recurring Deposit Account opened on or after the 1st day of April, 2013.

Number of deposits made

Amount (Rupee) for denomination of Rs.10

Number, or deposits made

Amount (Rupees) for denomination of Rs.10

1 to 11

Deposits made

36

409.00

12

125.43

37

422.52

13

136.35

38

435.49

14

147.34

39

448.55

15

158.41

40

461.70

16

169.55

41

474.95

17

180.77

42

488.28

18

192.06

43

501.70

19

203.44

44

515.21

20

214.88

45

528.82

21

226.41

46

542.52

22

238.02

47

556.32

23

249.70

48

570.21

24

261.46

49

584.19

25

273.30

50

598.28

26

285.23

51

612.46

27

297.23

52

626.73

28

309.32

53

641.10

29

321.48

54

655.58

30

333.73

55

670.15

31

346.07

56

684.82

32

358.48

57

699.59

33

370.98

58

714.47

34

 383.57

59

729.45

35

396.24

60

744.53

Note: The amounts shall be proportionate for other denominations .

@ It is certified that the interests of no deposit holder would be prejudicially affected by the retrospective effect given to the notification.

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