National Savings Certificate Many types of investment plans are run by the government to give more benefits to the people. You can invest in these schemes. If you also invest in small savings schemes of the government, then the government has increased its interest rates. Know how much the interest rates have now been increased by the government in this scheme?
National Savings Certificate: The government has increased the interest rates of small savings schemes. Their interest rates are revised after every three months. The government has increased the rates of many small savings schemes for this quarter i.e. July-September 2023 quarter. Now their interest rates have increased by 30 bps.
Interest rates
There has been no change in the interest rate of National Savings Certificate (NSC). Still their interest rate has been kept constant at 7.7 percent. At the same time, it has been increased by 70 basis points in the last quarter. It has been reduced from 7.1 per cent to 7.7 per cent.
Tax benefit
If you also invest in this scheme, then you will get the benefit of tax benefit on the amount deposited under Section 80C of the Income Tax Act.
NSC Interest Rates
NSC interest rates are compounded annually. Think of it like this that if you invest Rs 1000, you will get Rs 1403 after 5 years. There is no limit to the amount you can deposit in this.
Maturity
Your amount will mature after five years. For maturity, you should go to the account office and submit Form-2.
Death benefit
If the depositor who invests in these schemes dies, then its amount is given to the nominee. The nominee has to provide the death certificate of the depositor.
More than one nominee
If there are two or more nominees, then the amount for the night will be given in the same proportion. This ratio was specified by the depositor at the time of making the investment. If no ratio is given then they will be given equally. If one of the nominees dies, then the other nominee will get only his share.
How to open NSC Online Account through Internet Banking
- You must first log in to DOP’s Internet Banking.
- After this you have to select General Service and go to Service Request, there you have to click on New Service.
- After this you have to click on NSC account to open KVP account.
- Here you have to enter at least Rs 1000.
- After this you have to select the PO account linked to the debit account.
- Now you read the terms and conditions related to this and click on ‘click here’.
- Now you have to submit online for which you have to enter the password.
- To know the account details, you have to login to the details of NSC.
