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This post office savings scheme is an ideal option for investors who want to enjoy guaranteed returns and tax savings with low risk. This plan not only protects your capital but also allows it to grow at a steady pace.
If you are an investor looking for safe investments, tax savings, and long-term capital growth, the Post Office National Savings Certificate (VIII Issue), also known as the NSC (VIII Version), is a viable savings scheme offered by the Indian Postal Department. This scheme offers investors the option to invest over a long period at a fixed interest rate, ensuring the safety of their capital and generating good returns.
Significant Features of the Post Office National Savings Certificate
Investment Period: 5 Years
Interest Rate: Fixed by the government from time to time, compounded annually.
Interest Payment: Interest is paid upon maturity, but its benefits are accrued during the investment period for tax savings.
Tax Benefits: The invested amount is eligible for income tax exemption under Section 80C, resulting in tax savings.
Reinvestment: Interest earned can be reinvested.
Loan Facility: Loans can also be availed based on the investment amount.
Security: This scheme is fully government-backed, so investments are protected.
Account Opening Process: An account can be opened by visiting the nearest post office or by applying online.
Deposit Amount and Interest Rate
You can invest a minimum of ₹1,000 in the Post Office National Savings Certificate Scheme, and any amount you wish in multiples of 10 thereafter. There is no maximum investment limit in this scheme.
A ₹4,00,000 deposit will yield a return of ₹1,79,613.52.
If you deposit ₹4,00,000 in the Post Office National Savings Certificate Savings Scheme, then after five years, as calculated, you will receive a return of ₹1,79,613.52 at an interest rate of 7.7 percent. That too, guaranteed. Therefore, after five years, you will have a total corpus of ₹5,79,613.52.
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