Post Office Scheme: Indian Post is offering many types of schemes keeping in mind the demand of its investors. All post office savings schemes guarantee returns as they are run by the Government of India.
Post Office Scheme: Indian Post is offering many types of schemes keeping in mind the demand of its investors. All post office savings schemes guarantee returns as they are run by the Government of India. Apart from this, tax exemption is available on all investments under 80C. One of these schemes is National Savings Certificate (NSC). The Government of India has created it keeping in mind the small investors who make regular savings.
NSC scheme details
Interest rate: 7.7 percent
Minimum investment: Rs 1,000
Maximum Investment: No limit
Lock-in period: 5 years
Eligibility: Only Indians can invest in this scheme.
What happens when you invest Rs 15 lakh in NSC scheme?
The minimum amount to invest in this scheme is Rs 1,000 and there is no upper limit. In this scheme, two to three people can open a joint account to invest together. For minors, their parents can invest on their behalf. By investing Rs 15 lakh, one can get Rs 6,73,551 as interest at 7.7 percent interest rate. A total of Rs 21,73,551 will be received on maturity.
To apply for NSC you will have to provide documents. You will need passport, PAN card, voter ID, driving license, senior citizen ID or government ID. You have to provide your photo.
If this happens, you can withdraw money from NSC before time.
If the certificate holder dies. The invested cash can be withdrawn if the judge orders.
