NSC Calculator: If you want a safe and guaranteed return for investment, then investing in National Savings Certificate (NSC) can be a better option.
National Savings Certificate: If you want safe and guaranteed returns for investment, then investing in National Savings Certificate (NSC) can be a better option. The specialty of this post office small savings schemes is that there is no maximum investment limit in this. At the same time, multiple accounts can be opened in this. Tax deduction up to Rs 1.5 lakh is also available under section 80C of income tax on deposits in NSC.
NSC: Interest Rate and Maturity
The National Savings Certificate (NSC) scheme of the post office is currently getting interest at the rate of 6.8 percent per annum. The interest is compounded on an annual basis but is paid on maturity only. The maturity of this scheme is 5 years. According to the information given on the post office website, if you invest Rs 1000 in NSC, then after the next 5 years you will get Rs 1389.49.
6.94 lakh will be available on 5 lakh deposit
According to the NSC calculator, if a lump sum of Rs 5 lakh is deposited in this scheme, then a total of Rs 6,94,746 will be available on maturity after 5 years. In this, there will be an income of Rs 1,94,746 from interest. You can invest in National Savings Certificate (NSC) from any post office where the facility of opening a savings account is available.
The account under the scheme opens with a minimum of Rs 1000. At the same time, there is no maximum limit for investment in this. You can make multiple deposits of Rs 100 in the scheme. Investment in this is completely safe. It is not affected by market risk.
Any adult can open an account
NSC account can be opened in post office branches across the country. Any adult can open an account. In this, apart from the joint account, the parents or legal guardian of children above the age of 10 years can buy the certificate. The minimum investment to be made in NSC is Rs 1000. After that you can buy the certificate in multiples of 100. There is no limit to invest in it. You cannot withdraw before 5 years in NSC. Exemption is available only in certain circumstances. The government revises the interest accrued on the Small Savings Scheme after 3 months.
NSC: Some other features of the scheme
- NSC can be purchased from any Indian post office.
- Interest is accrued annually but payment is made only on maturity.
- NSC is accepted by all banks and NBFCs as collateral or security for loans.
- An investor can nominate any member of his family.
- The NSC can be transferred from one person to another in the name of another person once between its issuance and maturity date.
