At present, the scheme is getting 5.9% interest annually. Under this scheme, you can get tax exemption of Rs 1.5 lakh annually under Section 80C.
Post Office‘s National Saving Certificate Scheme (NSC) is time-tested and an extremely safe investment option. If you invest as little as Rs 100 a month in the NSC scheme, you can become a millionaire in a few years.
The National Saving Certificate Scheme (NSC) lets you make money by keeping your investment safe without any risk and make your and your family’s future secure.
Benefits of National Saving Certificate:
The maturity period of the National Savings Certificate scheme is 5 years. However, you can withdraw money from your account after 1 year with certain conditions. The interest rates are set by the government at the beginning of every quarter (3 Months) of the financial year.
What is the interest rate?
At present, the scheme is getting 5.9 per cent interest annually. Under this scheme, you can get tax exemption of Rs 1.5 lakh annually under Section 80C of Income Tax. Interest for National Saving Certificate NSC is compounded half-yearly. The interest is payable to the investor at the end of the five years. The interest earned every year is reinvested.
You can start investing in this scheme with as little as Rs 100 a month.
If you want the amount of Rs 20.06 lakh after 5 years at an interest rate of 5.9 then you have to make an investment of Rs 15 lakh over 5 years and you will gain about Rs 5.06 lakh as interest.
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