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Friends & Family
National Savings Certificate
Indian Postoffice Savings
Who can purchase :
- An adult in his own name or on behalf of a minor,
- A minor,
- A trust,
- Two adults jointly,
- Hindu Undivided Family.
Where available
Available for purchase/issue at all Post Offices in India.
Minimum Purchase Value
The minimum amount of investment under NSC is Rs 100/-
Maturity
Period of maturity of a certificate is six Years.
Nomination / Transferability:
- Nomination facility is available.
- Certificates can be transferred from one post office to any other post office.
- Transfer from one person to another person permissible in certain
conditions.
Denomination / Deposit limits :
500, Rs. 1000, Rs. 5000 & Rs. 10,000.
Interest/maturity value :
- Interest is avaialbe on this scheme @ 8%, compunded half-yearly
- With effect from 1st March, 2003, Maturity value a certificate of Rs. 100
denomination is Rs. 160.10. - Maturity value of a certificate of any other denomination shall be at
proportionate rate. - Interest accrued on the certificates every year is liable to income tax but
deemed to have been reinvested.
Premature encashment :
Premature encashment of the certificate is not permissible except at a
discount in the case of death of the holder(s), forfeiture by a pledgee and
when ordered by a court of law.
Place of Encashment/discharge on maturity :
Can be encashed/discharged at the post office where it is registered or any other post
office.
Income Tax relief :
- Income Tax rebate is available on the amount invested and interest accruing every
year under Section 88 of Income tax Act, as amended from time to time. [under Sec 80C] - Income tax relief is also available on the interest earned as per limits fixed vide section
80L of Income Tax, as amended from time to time.
SASWAT TRIPATHY [ 12Jun08]
This scheme is very good.
Dhananjay [ 09Jul08]
I want some more clarification about this scheme.
1)if i invest Rs.100.0 i will get 8% interest per year
Kindly explain me.
FENIL CHAUHAN [ 22Jul08]
Dear Sir,
Kindly let me know, i want to invest 150000.00 Rs for the same , kindly let me know after matuarity period what amount i will gain or earned….Thanking you
SANJEEV BARNWAL [ 24Jul08]
Sir
My Brother in Law Mr. Rajesh Kumar in his name bought NSC of Rs. 10000/- and two blocks of Rs. 1,000/- each thereby totalling Rs. 12,000/- in the Year 2001 at Bareilly (Uttar Pradesh). He is working in Bank of Baroda. He lost his National Saving Certificates when his bank (when he was posted in Jharkhand)was robbed in the Year 2007.
I am sure the Post Offices must be of any help in tracing the NSC. The Certificates Numbers are not known. Name of the Holder is Rajesh Kumar, one Certificates is of Rs. 10000/- and two certificates of Rs. 1000 each. Year of Purchase is 2001.
With these limited information is there any way we can know the Numbers of our NSCs. With a lot of expectations I am writing this mail. Please reply to the same. I would be really very grateful and highly obliged if you could help us.
Thanking you
Sanjeev Barnwal
Diwan Singh [ 29Jul08]
I Purchased a National saving Certificate on 02/03/04 B no. 094350 and No. of Certificate of Authority RD-7241
I have receipt of same but do not have ceritcate, please advice how can I get certificate of same
Thanks
Diwan Singh
Vishal Singh [ 08Aug08]
If I buy NSC of Rs. 100/- in 2000. that mean I get Rs 158/- or Rs. 251/- in year 2006.
And how much tax I can save on it?
S.THIRUNARAYANAN [ 18Aug08]
Is there any chance to raise interest percentage for NATIONAL SAVINGS CERTIFICATE-VIII ISSUE. (6 YEARS PERIOD)
Raj Kumar [ 19Aug08]
Dear Sir
I want to invest some amount around 50000 in this scheme. Please let me know about this scheme and if I invest the above mention amount then how much becomes after maturity and what is the maturity period.
Thanks