The scheme
of Regular Income Certificates was introduced in 1993. This scheme has
been specifically designed to meet the requirements of pensioners,
widows, orphans etc. These certificates are available in the
denominations of Rs. 50,000, 100,000, 500,000, 1,000,000, 5,000,000
and Rs. 10,000,000/-
|
Effective Period |
Monthly Profit
on Each
Rs.100,000/- |
Rate
(% p.a.) |
|
From |
To |
|
13-Nov-96 |
06-Jan-97 |
1,300.00 |
15.60% |
|
07-Jan-97 |
13-May-99 |
1,500.00 |
18.00% |
|
14-May-99 |
31-Dec-99 |
1,333.00 |
16.00% |
|
01-Jan-00 |
30-Jun-00 |
1,166.66 |
14.00% |
|
01-Jul-00 |
30-Jun-02 |
1,040.00 |
12.48% |
|
01-Jul-02 |
31-Dec-02 |
880.00 |
10.56% |
|
01-Jan-03 |
30-Jun-03 |
760.00 |
9.12% |
|
01-Jul-03 |
31-Dec-03 |
640.00 |
7.68% |
|
01-Jan-04 |
30-Jun-04 |
580.00 |
6.96% |
|
01-Jul-04 |
31-Dec-04 |
570.00 |
6.84% |
|
01-Jan-05 |
30-Jun-05 |
570.00 |
6.84% |
|
01-Jul-05 |
04-Jun-06 |
740.00 |
8.88% |
|
05-Jun-06 |
22-Jun-07 |
770.00 |
9.24% |
|
23-Jun-07 |
23-Jun-08 |
795.00 |
9.54% |
|
24-Jun-08 |
30-Sep-08 |
960.00 |
11.52% |
|
01-Oct-08 |
30-Nov-08 |
1108.00 |
13.30% |
|
01-Dec-08 |
Till Date |
1250.00 |
15.00% |
Note: The
above monthly profit has been worked out on Rs.100,000/-. You can
easily calculate profit on your investment by dividing the relevant
amount of the table with 100,000 and then multiplying with the amount
you have invested.
Profit under these certificates is subject to 10% withholding tax.
However, investment is these certificates is exempt from compulsory
deduction of Zakat at source. No further profit is paid on undrawn
profit(s) in this scheme. The premature encashment of the
certificate(s) purchased on or after 15-05-1999, entails service
charges as per following schedule:-
If encashed before completion of one year 4% of principal
If encashed before completion of two years 3% of principal
If encashed before completion of three years 2% of principal
If encashed before completion of four years 1% of principal |
