Post Saving National Saving Certificates is a great scheme for investors. After investing 1 lakh in it, after five years it will become 1 lakh 40 thousand. PM Modi himself has also invested in it.
Ever since Narendra Modi has become the Prime Minister of the country, he has given much publicity to the post office. In the past few times, the attraction of people towards post office saving schemes has increased. PM Modi himself has also invested in India Post’s schemes. Here you also get good returns, along with it is considered very safe. Today we are going to tell you about a scheme where if you invest 1 lakh rupees, then after five years this amount will be close to 1 lakh 40 thousand. Prime Minister Modi himself has invested in this scheme.
National Savings Certificates is a one-time investment. The maturity period for the National Saving Certificate of the Post Office is 5 years. The scheme currently offers an interest rate of 6.8 percent, which is compound interest and calculates on an annual basis. However, interest is paid on maturity. In this scheme, a minimum of 1000 rupees and multiples of 100 rupees can be deposited. There is no maximum limit of investment. You get the benefit of deduction under section 80C by investing in it. The limit of section 80C is 1.5 lakh rupees.
Interest rate of 6.8%
Talking about returns, if its interest rate is 6.8 percent now. The government reviews the interest rate every quarter. Investors get the benefit of compound interest on an annual basis. Under this, if you invest 1000 rupees then after five years your amount becomes 1389.49 rupees. Means interest income was Rs 389.49. In this way, interest income is Rs 3890 for investing 10 thousand rupees and Rs 38949 as interest for investing 1 lakh.
PM Modi has also invested more than 84 thousand
Prime Minister Narendra Modi has also invested in the National Savings Certificate. According to last year’s data, PM Modi has invested Rs 843124 in this scheme. Talking about other features of the scheme, it can be opened only in the post office. Individual under 18 years of age, 3 people can join joint account and a minor over 10 years of age can open an account under this scheme. NSC cannot be discontinued before five years. However, it can be closed after the death of the account holder.
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