NSC Calculator Post Office : The government has increased the interest rates on many small savings schemes of the post office, including NSC, from April 1, 2023. Now you are getting interest on it at the rate of 7.7%.
NSC Calculator Post Office : Investment in Post Office Schemes remains the choice of common people for safe and guaranteed returns even today. The government has increased the interest rates on many small savings schemes of the post office from April 1, 2023, including NSC or National Savings Certificate. Now you are getting interest at the rate of 7.7% on it. NSC is one of the popular savings schemes of the post office. This scheme is run by the government, which guarantees you safe returns. You can start investing in this scheme by visiting any post office branch. The best thing is that you get the benefit of compounding interest on investing in the scheme (NSC Interest Rate Calculator).
NSC Interest Rates & Maturity Period
There are two types of NSC – NSC VIII Issue and NSC IX Issue. But right now only the eighth issue is available for investment. The ninth issue has been discontinued since December 2015. The eighth issue comes with a lock-in period of 5 years, on which you get 7.7% annual interest. That means after five years you get both the principal amount and the interest money back. Apart from this, you also get tax exemption on the initial investment and interest under section 80C of Income Tax in the first four years. You get exemption on investment up to Rs 1.5 lakh in this.
NSC Calculator: How much interest will you get on investing in NSC?
Suppose you invest Rs 10 lakh in NSC. On this, you will get a return of 7.7% per annum (NSC Interest Rate). Your investment will be in lock-in period for 5 years. So according to the calculator, your principal amount is Rs 10 lakh, on this you will get Rs 4,49,034 just from interest. And by combining the principal amount and interest, you get a total return of Rs 14,49,034 on your investment.
How do you get money after maturity?
When your investment in NSC matures (NSC maturity period), you can withdraw it in cash. You can also choose to transfer this amount to your bank account. If you do not withdraw this money and let it remain in NSC, then you keep getting the interest rate of Post Office Savings Account on it for the next two years, but after two years this interest rate stops and your money remains lying in it.
