Post Office Time Deposit Scheme

Govt Scheme- PM Modi Invests in This Government Scheme — Check Benefits and Returns

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Post Office Scheme: If you’re on the lookout for a secure, risk-free investment, the National Savings Certificate (NSC) scheme from the Post Office could be just what you need. Your funds are entirely safe and come with a government guarantee. It’s perfect for anyone wanting to create a future fund while steering clear of market ups and downs. By investing Rs 10 lakh in this scheme, you could potentially earn up to Rs 449,034 in interest when it matures. This government-backed scheme is not only secure but also provides tax advantages. Even Prime Minister Narendra Modi has put his money into this scheme.

The NSC has a maturity period of 5 years. You can kick off your investment with as little as Rs 1,000. The best part? There’s no cap on how much you can invest, so you can put in as much as you want. Plus, investing in NSC comes with tax perks. Under Section 80C of the Income Tax Act, you can claim a tax deduction of up to Rs1.5 lakh each year. The interest you earn annually is also treated as a reinvestment, giving you tax relief.

PM Modi’s investment in National Savings Certificate

As per report, Prime Minister Narendra Modi has put his money into the National Savings Certificate at the Post Office. He has invested ₹9.12 lakh in the NSC scheme. Additionally, PM Modi also puts money into bank fixed deposits. The National Savings Certificate is a Government of India initiative. It’s a fixed income investment scheme available to any Indian citizen at any post office.

The current version of National Savings Certificates is Issue VIII. The NSC has a maturity period of 5 years. The Post Office National Savings Certificate Scheme offers a return of 7.7%. A unique aspect of the National Savings Certificate Scheme is that you can start investing with just ₹1,000.

How to set up an account at the post office?

Opening an NSC account at a post office is super simple. You can either head over to your nearest post office or use net banking. If you prefer to open an account online through net banking, make sure you already have a Post Office savings account.

Who is ineligible to buy NSC?

As per the guidelines, NSCs can’t be bought by non-resident Indians (NRIs), Hindu Undivided Families (HUFs), public or private companies, trusts, societies, or any other institutions. If someone becomes an NRI after buying the certificate, they can keep it until it matures, but on a non-repatriable basis.

About the Author

Sweta Mitra

Working in the media for last 7 years. The journey started in the year 2018. For the past few years, my working experience has been in Bengali media. Currently working at Timesbull.com. Here I write like Business, National, and Utility News. My favorite hobbies are listening to music, traveling, food,...

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SwetaMitra@timesbull.com Author at TimesBull TimesBull
Working in the media for last 7 years. The journey started in the year 2018. For the past few years, my working experience has been in Bengali media. Currently working at Timesbull.com. Here I write like Business, National, and Utility News. My favorite hobbies are listening to music, traveling, food, and books. For feedback - timesbull@gmail.com
Sweta Mitra - Author at TimesBull
About the Author

Sweta Mitra

Sweta Mitra - Author at TimesBull

Working in the media for last 7 years. The journey started in the year 2018. For the past few years, my working experience has been in Bengali media. Currently working at Timesbull.com. Here I write like Business, National, and Utility News. My favorite hobbies are listening to music, traveling, food,...

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