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NATIONAL SAVINGS CERTIFICATE (NSC)

"Popular Tax Saving Scheme"

National Savings Certificate, popularly known as NSC, is an Indian Government savings bond, primarily used for small savings and income tax saving investments in India. NSC is a cumulative scheme where one invests for a tenure of 5years and the fixed maturity amount is payable at the end of the period.

The scheme qualifies for an 80c rebate and is interest invested on a cumulative basis to give a decent amount on maturity. The return with the tax rebate is attractive and is higher than the bank FD. The certificates can be transferred but can’t be encashed prematurely.

FEATURES
  • A Tax saving instrument under SEC 80C Can be purchased individually or jointly or by a minor through a guardian

  • Cannot be purchased by companies, societies, trusts, NRIs, HUFs

  • Minimum investment is Rs 500/- and no limit on the maximum amount

  • Annual interest has to be reinvested and qualifies for a tax rebate for the first 5 years under section 80C

  • The facility of reinvestment on maturity Interest is floating and is accrued as per the prevailing rate of a particular financial year

  • Certificates can be transferred before maturity but cannot be encashed Interest income is taxable but no

  • TDS Deposits are exempted from wealth tax

  • Nomination facility available

  • The facility of getting a duplicate certificate available in case of loss of the original one

Product Note

Tenure: 5 YEARS
Rate of Interest :  (6.80.% P.A.)

  • Type of Interest:  FIXED FOR THE TENURE

  • Mode of Calculation:  COMPOUNDED ANNUALLY BUT PAYABLE AT MATURITY.

  • Minimum Amount Required: Rs. 1,000/- In multiples of Rs. 100/-
  • Maximum Amount Limit:  No maximum limit.
  • Who can Invest: (i) a single adult (ii) Joint A Account (Maximum 3 adults) (iii) Joint B Account (Maximum 3 adults) (iv) Minor above 10 years of age (iv) An adult on behalf of a minor
  • Documents Required : (I) 2 photographs (ii) along with a self-attested copy of PAN Card and Aadhaar Card

POSTAL SCHEMES AT A GLANCE