Post Office NSC Scheme Update : Post Office National Savings Certificate Scheme Have you ever thought of saving and investing in the post office! If not, think about it as there are many beneficial schemes in the post office to keep your money safe and give more return in return than any other sources! Moreover, the result of small savings can be big in the times to come and provide big relief in future.
Investors will continue to get interest at the rate of 6.8 percent annually on the schemes of Post Office National Savings Certificate Scheme. This is great news for investors who have zero risk appetite and want guaranteed returns on their investments! Post Office (India Post) Small Savings Schemes are tried and tested and it helps an investor to raise funds manifold in a short span of time.
Post Office National Savings Certificate Scheme (Post Office NSC Scheme) attracts most of the investors. This investment tool helps investors to start investing with just Rs 100! In this way you can invest in government schemes. There are many such schemes in the Post Office (India Post) where you can get good return on investment. National Savings Certificate is also a great scheme of post office. In this Post Office National Savings Certificate Scheme, you can add big money in a few years!
Post Office National Savings Certificate Benefits
The maturity period of the National Savings Certificate Scheme is 5 years. The special thing is that with certain conditions you can withdraw the account amount after the maturity period of 1 year! The interest rates in the National Savings Certificate are set by the government at the beginning of every quarter of the financial year.
You can start investing in it with as little as Rs 100! This Post Office National Savings Certificate Scheme (Post Office NSC Scheme) is currently getting 6.8 percent interest annually! Under this scheme, you can also get tax exemption of Rs 1.5 lakh annually under section 80C of Income Tax.
Post Office NSC Scheme
Indian citizens can get NSC from any post office. This investment option is the preferred choice of individuals who are looking for safe investment avenues. Because it is backed by the Government of India, resulting in less risk.
Currently available for NSC with a tenure of 5 years. The interest rates for NSC range between 7-8% PA and are decided by the Ministry of Finance every financial year. For example, the interest rate of the National Savings Certificate for the financial year 2019-20 is 8% compounded annually.
While the minimum investment amount is Rs 100, there is no limit on the maximum amount that can be deposited unlike PPF. However, only Rs 1.5 lakh per annum is eligible for tax exemption under section 80C.
21 lakhs will mature in 5 years
For example, if you initially invest Rs 15 lakh in the National Savings Certificate Scheme. So after 5 years you will get an amount of Rs 20.85 lakh at an interest rate of 6.8! In this, your investment will be 15 lakhs, but there will be a benefit of about 6 lakhs in the form of interest. You can go further if you want!
What is National Savings Certificate?
National Savings Certificate is one of the small savings schemes offered by India Post. Since it is a government backed investment instrument, an investor’s money here is considered more secure than in banks. Hence, investors’ money here is free from any risk.
National Savings Certificate Calculator
How to become a millionaire in just five years through investing in NSC! SEBI registered tax and investment expert Manikaran Singhal said, In the Post Office National Savings Certificate Scheme (NSC), one can maximize one’s return on lump sum investment. Using NSC Calculator, if an investor invests Rs 1 lakh in this India Post scheme, the net return after five years will be Rs 1,38,949!
National Savings Certificate (Post Office NSC Scheme)
You can invest in National Savings Certificate with a small deposit of Rs. 100 as an individual, jointly or as a guardian of a minor. The lock-in period for this Post Office National Savings Certificate Scheme is 5 years. Also, the annual interest on NSC is reinvested and paid as accumulated amount at the time of maturity.
