There are many ways to invest and get a good profit. One of them is NSC or National Savings Certificate. It is a post office saving which is quite popular since it gives good returns and it is a risk-free investment. I will share more with you about what is National Saving Certificate.
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The National Savings Income (NSC) is a fixed income investment that you can open in any post office branch. The scheme was initiated by the Government of India. NSC comes with a fixed maturity of 5 years. There is no maximum limit on buying NSC. But you can get a tax exemption of Rs. 1.5 lac as the guideline of Section 80C of the Income-tax Act.
What is the interest rate of National Saving Certificate?
The National Saving Certificate has a fixed interest rate of 6.8% per annum. But this interest rate is revised by the Government on a periodic basis.
You can start investing as low as Rs. 1,000 (or multiples of Rs 100) and increase your amount over the time period of five years.
There are two types of certificates that are NSC VIII Issue and NSC IX Issue. The Government has stopped the NSC IX Issue in December 2015. So, now you can get the subscription for the NSC VIII Issue.
The good news about NSC is that banks and NBFCs accept NSC as collateral or security while securing loans. The interest you earn from the investment gets compounded which is reinvested by default.
The investor can nominate a family member so that the family member can inherit the money after demise.
This scheme is only eligible for Indian resident citizens.
Since it is a scheme for individual Hindu Undivided Families (HUF) cannot invest in this scheme.
I hope you now know what is National Saving Certificate.
Read more:
How to get loan against NSC?
Where to Open
NPSAccount?
Can I Open
NPSAccount Online?
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What is national saving certificate?
Siddharth
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2022-08-17T10:33:32+00:00 2022-08-17T13:21:51+00:00Comment
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