National Saving Certificate 2021 | Post Office Saving Scheme...

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In this video, we have explained a popular post office saving scheme - the national saving certificate or NSC. This scheme is offered by the Government of India and offered by the Post Office. This scheme can be opened as a single account or a joint account with a maximum of 3 holders. This scheme comes with a fixed maturity of 5 years and currently has an interest rate of 6.80%. Interest earned from this scheme is taxable as per the income tax slab. Interest earned from the scheme is added into the deposited amount annually but paid at the time of maturity along with the deposited amount. The minimum amount of deposit in the scheme is Rs.1,000 and additional deposits can be done in the multiples of Rs.100. There is no maximum limit for the deposit in the scheme. The premature closure of an account is not allowed but it can be done under certain circumstances discussed in the video. This scheme has more benefits, like loan against the scheme, Tax deduction under section 80C of the IT Act, and many more. Rs.1,000 deposited in NSC after 5 years will grow to Rs.1,389.49. This scheme is suitable for investors who do not want to take risks and want to earn a fixed return as it is considered a very safe instrument for investment.