In this article I will be writing about the National Savings Certificate(NSC). It is one of the oldest and traditional investment schemes available for the tax savings. It is more safe compare to any other investments. This article explains some of the key facts about the National Savings Certificate(NSC). If you have any doubts, please post it in the comments section. Subscribe to free newsletter.
National Savings Certificate(NSC)
- Rate of interest 8% compounded half yearly.
- 6 years of lock-in period.
- Interest income is taxable.
- Minimum investment Rs. 500/- No maximum limit.
- No pre-mature encashment.
- Certificate can be pledged as security against a loan to banks/ Govt. Institutions.
- Deposits are exempt from Wealth tax.
- Duplicate Certificate can be issued for lost, stolen, destroyed, mutilated or defaced certificate.
- Certificates are transferable from one Post office to any Post office.
- Nomination facility available.
I hope this article would have helped you to understand the National Savings Certificate(NSC). If you have any doubts, please post it in the comments section. Subscribe to free newsletter.
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