Post Office NSC Scheme: Investing your life’s earnings in the right place is always a big responsibility. People are looking for a scheme that not only gives good returns but also keeps their investment safe. If you are also looking for such a scheme, then Post Office NSC Yojana can be a better option for you. This scheme is run by the post office and gives attractive returns along with safe investment.
What is Post Office NSC Yojana?
National Savings Certificate (NSC) is a popular scheme of the post office, in which investors get interest at the rate of 7.7%. By investing in this scheme, your money is not only safe but it also gives better returns than Fixed Deposit (FD). Its objective is to promote medium and long term investment.
Start investing with Rs 1000
Investment in Post Office NSC Yojana can be started with just ₹ 1,000 and there is no maximum limit of investment in it. This scheme offers the benefit of compound interest, which makes your investment more profitable.
5 years maturity period
The investment period in this scheme is 5 years. On maturity, you are given interest along with the invested amount. If you want to continue the scheme, then after completion of 5 years, you can buy NSC again with the new interest rate.
Return on investment of Rs 10 lakh
If you invest Rs 10 lakh in NSC, then after 5 years you will get a total of ₹ 14,49,033 at an interest rate of 7.7%. This includes your principal amount and interest earned. This scheme is a perfect combination of high interest rate and safe investment.
Tax exemption benefit
By investing under the Post Office NSC scheme, you get the benefit of tax exemption under Section 80C of the Income Tax Act. A maximum investment of up to ₹ 1.5 lakh in this scheme can be tax-free.