National Savings Certificates (NSC) is available for a period of 5 (earlier 6 years) or 10 years.
Key Benefits:
For 5 years:
No maximum limit for investment.
No Tax deduction at source.
Certificates can be kept as collateral security to get loan from banks.
Investment up to INR 1,00,000/- per annum qualifies for IT Rebate under section 80C of Income Tax Act.
Trust and HUF cannot invest.
Rate of interest 8.60%.
Maturity value of a certificate of INR.100/- purchased on or after 1.4.2012 shall be INR. 152.35 after 5 years.
For 10 years:
No maximum limit for investment.
INR. 100/- grows to INR 234.35 after 10 years.
Minimum investment can be a low as INR. 100
Rate of interest 8.90%.
Maturity value of a certificate of INR.100/- purchased on or after 1.4.2012 shall be INR. 238.87 after 10 years.
Source:India Post
No maximum limit for investment.
No Tax deduction at source.
Certificates can be kept as collateral security to get loan from banks.
Investment up to INR 1,00,000/- per annum qualifies for IT Rebate under section 80C of Income Tax Act.
Trust and HUF cannot invest.
Rate of interest 8.60%.
Maturity value of a certificate of INR.100/- purchased on or after 1.4.2012 shall be INR. 152.35 after 5 years.
For 10 years:
No maximum limit for investment.
INR. 100/- grows to INR 234.35 after 10 years.
Minimum investment can be a low as INR. 100
Rate of interest 8.90%.
Maturity value of a certificate of INR.100/- purchased on or after 1.4.2012 shall be INR. 238.87 after 10 years.
Source:India Post
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