Hello friends, welcome to our blog Earn Money Bangla. We have already discussed various investment schemes of Post Office in this blog. Today, we have returned with such an investment scheme. In today’s post we are going to discuss about Post Office National Savings Certificate or NSC Scheme. So, to know all the details about Post Office National Savings Certificate or NSC Scheme, read this article completely.
Who can apply for National Savings Certificate or NSC Account in Post Office?
- Any Indian citizen.
- joint account may be opened by maximum of three Indian citizens.
- His/her guardian on behalf of a minor.
- His/her guardian on behalf of a mentally ill person.
- Any minor above 10 years of age can apply for National Savings Certificate or NSC Scheme in the post office in his/her own name.
Current interest rate on the Post Office’s National Savings Certificate or NSC scheme
- At present the interest rate on Post Office National Savings Certificate or NSC Scheme is 7.7%.
- In this case interest is payable at compounded rate every year.
Post Office National Savings Certificate or NSC Calculator
- At the current interest rate, if Rs.1,000 is invested in this scheme, after 5 years it will become Rs. 1,414.18. If you invest Rs.10,00,000 in this scheme, after 5 years it will become Rs.14,14,778.
Minimum amount needed to apply for National Savings Certificate or NSC Account at Post Office?
- A National Savings Certificate or NSC may be purchased with a minimum investment of Rs. 1,000.
- In this case, there is no maximum limit of having NSC Certificate, which means you can invest as much as you want in NSC .
- Not only that. You can purchase as many NSC as you want.
Post Office National Savings Certificate or NSC – Maturity Period
- Post Office’s National Savings Certificate or NSC matures in 5 years.
Can NSC account may be closed before maturity period ?
- The NSC account can be closed before the maturity period in case of death of the person or any of the persons (in case of joint holding) with a court order only.
Some more information about Post Office’s National Savings Certificate or NSC Scheme
- You will also get income tax exemption as per Section 80C of the Income Tax Act on the amount deposited in NSC Scheme.
How to apply for National Savings Certificate or NSC Account at Post Office?
- Step 1: – Go to your nearest post office and tell the person in the counter that you want to apply for NSC or National Savings Certificate. Then, you will be given an application form.
- Step 2: – Fill in all the information in the application form.
- Step 3: – Arrange the following documents. These will be required while submitting the application form. These documents are –
- Aadhaar card
- PAN card
- Two copies of passport size photo.
- Step 4: – Then submit these documents along with the application form to the counter.
Step 5: – Deposit the amount.
- After that National Savings Certificate or NSC will be allotted in your name.
Apart from this, if you have any questions or doubts regarding Post Office’s National Savings Certificate Scheme or any other financial issue, please let us know in the comment box or email us at [email protected] and if you like this post, share it with others and give others a chance to know.
Also Read: –
Post Office Senior Citizen Savings Scheme | Post Office SSC Scheme
Highest Interest Rates in Savings Account – Bank or Post Office ?