NATIONAL SAVINGS CERTIFICATE

Who can Invest How to Purchase
Rate of Interest Encashment
Tax Benefit

NATIONAL SAVINGS SCHEME CERTIFICATE  VIII issue (NSC)

Sl. No.

Name of the Scheme

Interest

Maturity
Period

Limit of Deposit I.T.benefit Place of Deposit
   NSC VIII Issue 8.16% 6 years Min:Rs.100
Max: No Limit

As announced by the Government of India from time to time

All HPOs and authorised Post Offices

 

Who can Invest

An adult for himself or on behalf of a minor, jointly by two adults, a minor and a Trust.

 

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How to Purchase

Certificate in denomination of Rs. 100, Rs.500, Rs. 1000, Rs.5000 & Rs. 10,000 may be purchased from any post office, either directly or through authorised agents. In addition to cash, locally executed cheque, pay order or demand draft in favour of the Post Master are also accepted.

 

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Rate of Interest

Rate of interest is 8.16% p.a. compounded half yearly and paid after the maturity period of six years along with principal.

Annual  accrual rate of interest on investment of Rs.100/- is as under and is in proportion for other denominations.

1st year

Rs. 8.16
2nd year Rs. 8.83
3rd year Rs.9.55
4th year Rs.10.33
5th year Rs.11.17
6th year Rs.12.08

 

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Encashment


Can be encashed after 6 years.

A certificate can be encashed at the post office at which it stands registered. A certificate may also be encashed at any other post office if the Officer –in –charge of that post office is satisfied on verification from the office of its registration that the person presenting the certificate for encashment is entitled thereto.

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Tax Benefit

As announced by the Government of India from time to time.

 

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