National Savings Certificate Scheme is a small savings scheme of post office.
How to Transfer NSC: However, investors also invest in this scheme to save their tax. But today we are talking here that if you want to transfer this scheme to someone else, then how can you do it. Please note that the maturity period of NSC VIII is 5 years and it can be transferred only once in between.
NSC Transfer Rules
If it has been 1 year since you have invested in NSC, then you can transfer it to another person. To transfer your NSC account, you have to fill Form NC 34. In this form, you need to have the name of the person to whom you want to transfer NSC, the name of the person doing the transfer, serial number of the certificate, amount of the certificate, date of issue of NSC and the signature of the NSC holder.
It is also necessary to have KYC
If you want to transfer your NSC then your KYC details (KYC) must be complete. The old certificate will be checked by an officer in the post office. It will have the post master’s stamp on it and the post office date seal. Apart from this, the person who transfers NSC will also have to pay the fee.
How much interest
National Savings Certificate is a safe investment scheme. If you want to invest in NSC then there is a lock in period of 5 years. That is, money will be available after 5 years of investment in it. In this, you get an interest of 6.8 percent. One can invest in this with a minimum of Rs 1000. If you are taking loan from bank then you can keep NSC as security.
How can you invest
You can invest in this in three ways. First, one can invest in a single type either for himself or for a minor. Second, in Joint A type, two investors can invest together and thirdly, in Joint B type, two people invest money together but on maturity the money is given to only one investor.
It is necessary to take into account these conditions
You cannot transfer NSC before 1 year. But if the court orders to transfer it in the event of the death of the NSC holder, then it can be done. Apart from this, it is also to be kept in mind that the NSC which is being transferred is worth buying. If NSC is being transferred to a minor, then the signature of the guardian is necessary.
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