What is National Savings Certificate. The National Savings Certificate is a fixed income investment scheme that you can open with any post office. A Government of India initiative, it is a savings bond that encourages subscribers – mainly small to mid-income investors – to invest while saving on income tax.
This option of saving is best for that people who don't want to take risk.
Basically this is issued by POST department of India. So we can say that we are putting our money into Government's hands.
This option is safest option to secure your money. Because if you are putting your money into the Bank, Stock Market, Mutual Fund, etc. there is risk. But by putting your money into NATIONAL SAVING CERTIFICATE there is no risk.
Current Rate of Interest is 6.8%
Compounded Annually.
Details.
- Min. ₹100/- and no max. limit.
- Certificate shall be issued on Passbook or exclusive e-mode.
- A single holder type certificate can be purchased by an adult for himself or on behalf of a minor.
- Joint 'A' Type certificate may be issued to two adults payable to both the holders jointly or to the survivor.
- Joint 'B' Type certificate may be issued to two adults payable to either of the survivor.
- Rate of interest is notified by the government from time to time on quarterly basis and is calculated on half yearly compounded basis.
- Current Rate of Interest Payable and maturity value.
- Loan facility available by pledging with the banks.
- The deposits as well as interest accruing annually but deemed to have been reinvested qualify for deduction u/s 80-C of I.T. Act.
- Interest accrual on investment of ₹100/- and in proportion for other denominations, on yearly basis for income tax purpose.
If you want to get this scheme then you have to go to the near by branch of Post Office and contact the respective officer.
No comments:
Post a Comment