Denomination of Certificates:
The certificates are issued in denominations of Rs.200, Rs. 500, Rs.1000 and Rs.5,000.

Purchase of Certificates:-
i.The certificates of denominations of Rs.200, Rs.500, Rs.1,000, Rs.5,000 may be purchased for Rs.100, Rs.250, Rs.500 and Rs.2,500, respectively.

ii.Any number of certificates of the denominations specified above may be purchased.

Procedure for purchase of certificates:-
a) A certificate may be purchased at any post office on payment in any one of the following modes:
i. by cash
ii.by locally executed cheque, pay order or demand draft drawn in favour of the post-master
iii.by presenting a duly-signed withdrawal Form or cheque with the Pass Book for withdrawal from post office savings account standing in the credit of the purchaser at the same post office.

b) No formal application is necessary for purchase of a certificate.

Issue of Certificate:-
i.On payment being made by cash, a certificate shall be issued immediately and date of such certificate shall be the date of payment.
ii.When payment for purchase of a certificate is made by locally executed cheque, pay order or demand draft, the certificate shall not be issued before the proceeds of the cheque, pay order or demand draft, as the case may be, are realised and the date of such certificate shall be the date of encashment of the cheque, pay order or demand draft, as the case may be.
iii.If for any reason, a certificate cannot be issued immediately, a provisional receipt shall be given to the purchaser which may later be exchanged for a certificate and the date of such certificate shall be as specified above.
iv.An IVP certificate issued is transferable.

Replacement of Certificate:
i.If a certificate is multilated or defaced, the bearer is entitled for replacement from the post office of issue on payment of fee of Re 1.
ii.A certificate lost, stolen, multilated, defaced or destroyed beyond recognition, will not be replaced by any post office.

Encashment of Certificate:-
i. Certificate of any denomination may be encashed at any time after the expiry of a period of five years from the date of issue, by presenting it before the post office of issue.
ii. Where a certificate of any denomination has been purchased on or after the April 1st, 1987, it may be encashed at any time after the expiry of a period of five-and-a-half years from the date of issue by presenting it before the post office of issue.
iii. Where a certificate of any denomination has been purchased on or after March 1st, 1988, it may be encashed at any time after the expiry of a period of 5 years from the date of issue by presenting it before the post office of issue.
iv. Where a certificate of any denomination has been purchased on or after September 2nd, 1993, it may be encashed at any time after the expiry of 5 years and 6 months from the date of issue by presenting it before the post office of issue.
v. With effect from January 15th, 2000, the maturity period of IVPs has been increased to six-and-a-half years. The amount invested shall now double in six-and-a-half years.

Discharge of Certificate:-
The person presenting a certificate for encashment shall sign in the space provided in the back thereof, in token of having received the payment, and indicate thereon his name and address.

Responsibility of the post office:-
The post office shall not be responsible for any loss caused to a holder by any person obtaining possession of a certificate and fraudulently encashing it.

Power to relax:-
Where the Central Government is satisfied that the operation of any of the provisions in the above rules causes undue hardship to the holder of a certificate, it may, by order, for reasons to be recorded in writing, relax the requirements of that provision in a manner not inconsistent with the provisions of the Act.