National Savings Certificate (NSC)

National Savings Certificate III Issue


• Account matures within 5 years
• Minimum deposit 1000, and thereafter multiples of 100
• There is no maximum deposit limit
• An adult can open a single-holder account for himself or his minor child.
• A minor may open a single-holder account upon reaching the age of 10 years.
• A joint 'A' type account can be opened by three adults. The accounts are payable to each of the holders or the survivor.
• A joint 'B' type account can be opened by up three adults and paid to one of the survivors.
• Pledging with banks can get you a loan facility


Features of National Savings Certificates

Here are some of the most popular features and benefits offered by the National Savings Certificate.

Fixed Income Rate: An individual can get a guaranteed return on investment of 8% annually starting at 01.01.2019. They have the opportunity to enjoy the peace and security of a steady source of income.

Types of National Savings Certificates: The National Savings Certificate had originally two versions. These were the NSC VIII and NSC IX Issue. In December 2015, the Government discontinued the NSC IX issue. Currently, the NSC VIII Issue can only be subscribed to.

Tax saving: The National Savings Certificate is a government-backed tax-saving scheme. One can easily invest up to Rs 1.5 lakhs to get the benefits of section 1980C of the Income Tax Act 1961.

Start small: You can invest as low as Rs. 100 or in multiples of Rs. 100 as a starting point for the investment and increase it gradually as you can.

Fixed Interest Rate: The current rate of interest for the National Savings Certificate at the moment is 8%, effective 01.01.2019. The rate of interest on National Savings Certificate was 7.6% earlier. The interest rate for the National Savings Certificate is updated every quarter by the government.

Fixed maturity period: The current maturity period for the investor is 5 years.

Easy Access: Anyone can purchase the National Savings Certificate scheme at any of the local post offices. All you have to do is submit the required documents and complete the KYC forms. It is also possible to transfer the National Savings Certificate between post offices.

The availability of loan collateral: All major Banks and NBFCs will accept the National Savings Certificate either as collateral or as security for secured loans. To do this, the relevant postal official must stamp a transfer stamp on the National Savings Certificate. Then, the National Savings Certificate will be transferred to the bank's custody.

The power of compounding: Although the Interest on the National Savings Certificate is compounded, it is reinvested automatically by default. However, the returns may not beat inflation.

Nomination facilities: Investors can nominate any member of their family (minors are also permitted) to inherit the investment in the unfortunate event of an investor's death.

Corpus post maturity: The individual would be entitled to the full maturity value. The National Savings Certificate payouts are exempt from TDS, so the subscriber will have to pay the appropriate tax.

Early withdrawal: In general, you cannot withdraw early from the National Savings Certificate. They will accept it in certain cases, such as when the investor dies or when a court orders


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KYC Required to Invest in Investment schemes

Know Your Customer, commonly referred to as KYC, enables banks and financial institutions to verify the identity of their customers. You only need to do this once as a first-time investor. A KYC form will include identity, address, financial status, occupation, and demographic information.


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NOTE: As this is a Govt. of India scheme, customers are advised to visit National Savings Institute website for latest instructions/ modification in the scheme.

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