NSC transfer rules: How to transfer National Savings Certificate to someone else, you get strong interest on investment in it!

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How To Transfer NSC: By investing in NSC (National Savings Certificate), money also increases and tax exemption is also available.


In such a situation, many people choose NSC for investment. But did you know that NSC can also be transferred? If you also want to know how to transfer your NSC to someone else, then know here.

How To Transfer NSC: National Savings Certificate is a small savings scheme of the post office as well as a tax saving investment. By investing in National Savings Certificate, you can avail tax benefit of up to Rs 1.5 lakh under section 80C (Tax saved by NSC). People also invest in VPF, PPF, EPF and many other options to get tax exemption. At present, investing in NSC is getting interest at the rate of 6.8 percent. Please note that NSC VIII has a maturity period of 5 years and can be transferred only once during this period.

NSC transfer rules

NSC can be transferred to another person only after one year of issue. A person who wants to transfer his NSC to someone else has to fill Form NC 34. The name of the NSC to be transferred, the name of the person making the transfer, the serial number of the certificate, the amount of the certificate, the date of issue of the NSC and the signature of the NSC holder are required to be filled in Form NC 34.


It is also necessary to complete KYC

The one who is transferring his NSC must also complete his KYC, such as photo, address, valid ID etc. In the post office, the old certificate will be checked by an officer, which will be stamped by the post master and will be stamped with the date of the post office. Apart from this, the person making NSC transfer will also have to pay a prescribed fee.

These conditions must also be fulfilled

NSC cannot be transferred before one year, but it can be transferred if there is a court order to transfer it in the event of the death of the NSC hold. Apart from this, also note that the person to whom NSC is being transferred is eligible to buy NSC. If the person to whom the NSC is being transferred is a minor, then the signature of one of his guardians will also be required.

Investment in NSC and some important things

If you are thinking of investing in NSC, the first thing to keep in mind is that it has a lock-in period of 5 years. That is, after investing in it, the money is returned only after 5 years. The current interest rate in this is 6.8 percent. One can start investing with a minimum of Rs 1000 and there is no investment limit in multiples of 100. NSC is also used as security while taking loan from bank.


There are three ways to invest in NSC

Single Type- This type of certificate can be taken for self or for a minor.

Joint A Type- This type of certificate can be taken by two investors together i.e. two people can invest together in it.

Joint B Type- In this type of joint account, money is invested by two people together, but on maturity the money is given to only one investor.


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