Issuance Of National Savings Certificates : India Post
Organization : India Post
Facility : Issuance Of National Savings Certificates (NSC)
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Home Page :http://www.indiapost.gov.in/NSC.aspx#IX
Download here : https://www.statusin.in/uploads/1169-NC-71ApplnforPurchaseofNSC.pdf
Issuance Of National Savings Certificates :
NSC VIII Issue
** Scheme specially designed for Government employees, Businessmen and other salaried classes who are Income Tax assesses.
Related : India Post Post Office Savings Scheme : www.statusin.in/1644.html
** 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 8.50%.
** Maturity value of a certificate of INR.100/- purchased on or after 1.4.2012 shall be INR. 151.62 after 5 years.
NSC IX Issue
** No maximum limit for investment.
** INR. 100/- grows to INR 234.35 after 10 years.
** Minimum INR. 100/- No maximum limit available in denominations of INR. 100/-, 500/-, 1000/-, 5000/- & INR. 10,000/-.
** A single holder type certificate can be purchased by an adult for himself or on behalf of a minor or to a minor.
** Rate of interest 8.80%.
** Maturity value of a certificate of INR.100/- purchased on or after 1.4.2012 shall be INR. 236.60 after 10 years.
Note :
Buy National Savings Certificates (NSCs) every month for Five years – Re-invest on maturity and relax – On retirement it will fetch you monthly pension as the NSC matures.