PM Modi Investment: PM Modi strongly believes in small savings schemes. He has invested in the National Savings Certificate Scheme (NSC) offered by the Post Office. NSC is a popular fixed income investment option that offers guaranteed returns. This government scheme offers an annual interest rate of 7.7%.
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PM Modi Investment: If you’re looking for a safe, risk-free investment, the Post Office’s National Savings Certificate (NSC) scheme may be a good fit. Your money is completely secure and comes with a government guarantee. It’s ideal for those looking to build a fund for the future while avoiding market fluctuations. Investing ₹10 lakh in this scheme can earn you up to ₹449,034 in interest upon maturity. This government-guaranteed scheme is not only safe but also offers tax benefits. Prime Minister Narendra Modi has also invested in this scheme.
The NSC has a maturity period of 5 years. You can start investing with as little as ₹1,000. Fortunately, there’s no maximum investment limit, meaning you can deposit as much as you want according to your capacity. Investing in NSC also benefits you from tax exemptions. Under Section 80C of the Income Tax Act, you can avail a tax deduction of up to ₹1.5 lakh annually. The interest earned each year is also considered a reinvestment, which provides tax relief.
PM Modi’s Investment in National Savings Certificates
According to a report published in Financial Express, Prime Minister Narendra Modi has invested his money in the National Savings Certificate scheme offered by the Post Office. He has invested ₹9.12 lakh in the National Savings Certificate scheme. He also invests in bank FDs. The National Savings Certificate is an initiative of the Government of India. It is a fixed income investment scheme. Any Indian citizen can obtain a National Savings Certificate from any post office.
The current issue of National Savings Certificates is Issue VIII. The maturity period of NSC is 5 years. The Post Office National Savings Certificate Scheme offers a return of 7.7%. The special feature of the National Savings Certificate Scheme is that you can start investing in this scheme with just ₹1,000.
How to open a Post Office account
Opening an NSC account at a Post Office is quite easy. You can open it directly at your nearest post office or through net banking. If you want to open an account online using net banking, you must first have a Post Office savings account.
Who cannot buy NSC?
As per the rules, NSC cannot be purchased by Non-Resident Indians (NRIs), Hindu Undivided Families (HUFs), public or private companies, trusts, societies, or other institutions. If a person becomes an NRI after purchasing the certificate, they can hold it until maturity on a non-repatriable basis.
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