Banks give guaranteed returns to their customers on FD for different tenures. Similarly, National Savings Certificate is a scheme where you get more returns than bank FD.
Post Office NSC Scheme: If you are thinking of earning bumper profits by investing in Fixed Deposit (FD), then this news is of great use to you. Actually, many banks give guaranteed returns to their customers on FD for different tenures. Apart from this, there are many government schemes where you get more interest than banks on FD. One such scheme is National Savings Certificate (NSC) where you get more returns than bank FD. This scheme is run under the post office, hence there is no risk of investment in it. Let us tell you that in this scheme, along with better returns, you also get tax exemption. Let us know the special things related to this scheme in detail.
How much interest do you get?
Let us tell you that the National Savings Certificate (NSC) Scheme of the Post Office is a savings certificate like FD in which investment is made for 5 years. At present, customers are getting 7.7% interest on this scheme. Whereas for this period, SBI is giving interest of 6.50%, Punjab National Bank 6.50%, Bank of India 6.50%, HDFC 7% and ICICI Bank 7%.
How much can you invest?
Customers can start investing in the National Savings Certificate Scheme of the Post Office with a minimum of Rs 1,000. Let us tell you that there is no limit on maximum investment in this scheme. This scheme matures in 5 years. Whereas compounding of interest is done on annual basis. Under this scheme, accounts can also be opened in the name of children.
How much is the tax benefit?
Let us tell you that on investing in the National Savings Certificate Scheme of the Post Office, customers get a rebate of Rs 1.50 lakh under Section 80c of Income Tax. Apart from this, no TDS is deducted on the interest received under investment in this scheme.
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