Post Office Scheme National Saving Certificate: This is one of the post office’s most well-liked schemes since it provides investors with substantial returns quickly. This scheme’s unique feature is that there is no upper investment limit. Additionally, it is resistant to market risk and capable of providing customers with substantial profits.
What is the National Savings Certificate Scheme?
One of the most well-known post office schemes is the National Savings Certificate (NSC). A certificate equal to the investor’s investment can be purchased from the post office under this scheme. This is a small postal savings initiative. Depending on your needs, you can invest in it. The minimum investment threshold for this scheme is Rs 1,000. At the same time, there is no cap on the maximum investment.
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Know the interest and investment period of the scheme:
Customers receive a 6.8 per cent interest rate on their National Savings Certificates from the Post Office. Remember that this interest is offered based on compounding. For a maximum of five years, you can invest money in this plan. A person who invests Rs 1,000 in this scheme will, after 5 years, receive a return of Rs 1,340, so keep that in mind. Only multiples of Rs. 100 should be invested in the scheme.
Check out some unique features of the NSC scheme:
In the NSC plan, you can open a single or a joint account.
A joint account can be opened by two or three people concurrently.
Parental supervision of a 10-year-old child’s account is in place until the child becomes 18 years old.
You can receive Rs. 1.5 lakh tax rebate under Section 80C of the Income Tax Rebate by investing in this scheme.
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Know how much return will the customers get:
After five years of maturity, an investor who invests Rs. 10 lakh in this scheme will receive a return of Rs. 13.40 lakh. Significantly, you will receive Rs 3.40 lakh in interest through this scheme in just 5 years. You can open this account by going to any nearby post office to take advantage of this scheme.
