The maturity period in NSC is 5 years. The scheme has a fixed interest rate of 6.8 per cent for the January-March quarter. It is known that the interest rates of small savings schemes are fixed every quarter.
It is considered safe to invest in the post office scheme. In some post office schemes, banks are given more benefits than schemes. Often when it comes to investing the savings amount, people get a fixed deposit (FD) in the bank. But by investing in the post office, even better returns can be achieved.
The National Saving Certificate is one such post office scheme. The best returns can be achieved through this small savings scheme of the post office. The investor gets better returns through interest earned on it. The scheme has a fixed interest rate of 6.8 per cent for the January-March quarter. It is known that the interest rates of small savings schemes are fixed every quarter.
Talk about the terms of this scheme, it has a maturity period of 5 years but after completion of the maturity period it can be extended for five-five years. In such a situation, you do not have to invest even a single penny, instead you get interest on what you invested in the beginning. Also Read: Indian Railways, IRCTC: Rail passengers will get new 44 Vande Bharat Express, know its features
According to India Post’s website, the National Saving Certificate can be opened in the name of the person himself or a minor. There is also the benefit of tax exemption on investing in this scheme. Tax benefits under Section 80C of Income Tax. NSCs can be invested only in the name of a minor for the adult himself.
