New Delhi. People like the National Savings Certificate the most for Small Saving Schemes. In this, along with high interest, tax exemption is also available. Also, from October 1, the interest rate on 5-year NSC has been reduced to 6.8 percent. Let us tell you that at present no big bank of the country is giving this much interest. In such a situation, it can be more beneficial for you to invest in NSC.
The total investment period under the post office NSC scheme is 5 years. According to India Post, under this scheme, an account can be opened with a minimum of Rs 1000. In this, you can deposit in multiples of 100 rupees. At the same time, the maximum limit of investment in this is not fixed.
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Where can open account
Account under NSC can be opened in any post office branch across the country. Who can invest: Any person can invest in it. You can also buy it in the name of your children. The maturity period of these certificates is 5 years. Interest is added every year and this money keeps on increasing with compound interest.
The thing to keep in mind here is that tax exemption is available only on investment up to 1.5 lakhs. The biggest feature of this scheme is that this scheme is government. That is, one, your money is completely safe and secondly, you will get the return as promised by the government. Apart from this, you do not have to run a lot.
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Where to buy certificate
National Savings Certificate is a long term investment vehicle. Through this, the investor keeps getting returns at a fixed interest rate. The special thing is that it is issued under the post office scheme of the Government of India. You can buy National Savings Certificate from your nearest post office.
When can I withdraw money
Its maturity is of 5 years. The good thing is that if you fulfill certain conditions, you can withdraw the account amount after the maturity period of 1 year. The interest rate in National Savings Certificate is changed or fixed every 3 months. Therefore, the investor should also change the amount of investment along with the increasing interest rates.
Tags: investment money, post office, Small Savings Schemes, Small Savings Schemes
FIRST PUBLISHED : November 19, 2022, 08:00 IST