Post Office's Small Savings Scheme National Savings Certificate (NSC) is a great investment option. This saves the savings as well as the benefits of tax benefits. Therefore, even Prime Minister Narendra Modi likes this post officer's scheme very much. He has invested more than Rs 8 lakh in it. Let us know what are the benefits of investing in NSC.
The National Savings Certificate is a long-term investment vehicle. These can be purchased from any post office. It has been issued under the Post Officer Scheme of the Government of India. In addition to the fixed return, there is also a tax deduction. There is also no limit to the amount of investment. You can start with a minimum investment of Rs. The NSC is currently earning an interest rate of 6.8 per cent.
Learn the benefits of this scheme
>> The maturity period of NSC is 5 years. The current annual interest rate is 6.8 percent.
>> Interest is calculated on an annual basis and payment is made on maturity.
>> Investment in NSC can be started with a minimum of Rs. There is no maximum investment limit.
Under Section 80C of the Income Tax Act, 1961, under NSC, the benefit of tax deduction is available on investment up to Rs. 1.5 lakhs per annum.
>> Interest is credited annually but payment is made on maturity only. In which TDS is not deducted.
>> An investor can nominate any member of his family.
>> From the time of issuance to NSC, maturity date can be transferred from one person to another.
Who can buy NSC?
NSC can be purchased in single or joint, by a minor over 10 years of age, by an adult in the name of a minor, by a parent in the name of a mentally retarded person. It is issued as a passbook.
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