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Interest: 7.3 percent compounded annually (Amount Invested doubles in 118 months (9 years and 10 months)) Opening: -The certificate can be purchased by an adult for himself or on behalf of a minor or by two adults -KVP can be purchased from any Departmental Post office Account Facilities: -Facility of nomination is available -The certificate can be transferred from one person to another and from one post office to another -The certificate can be encashed after 2 and 1/2 years from the date of issue.7.6 percent compounded annually but payable at maturity._/ Rs: 100/- grows to Rs: 144.23 after 5 years -A single holder type certificate can be purchased by, an adult for himself or on behalf of a minor or by a minor Taxes: -Deposits qualify for tax rebate under Sec. 80C of IT Act -The interest accruing annually but deemed to be reinvested under Section 80C of IT Act Transfers: -In case of NSC 8, transfer of certificates from one person to another can be done only once from date of issue to date of maturity -At the time of transfer of Certificates from one person to another, old certificates will not be discharged. Name of the old holder shall be rounded and the name of the new holder shall be written on the old certificate and on the purchase application(in case of non CBS Post offices) under dated signatures of the authorized Postmaster along with his designation stamp and date stamp of Post office