NSC: You will get 6.50 lakh interest on 15 lakh deposit, see complete calculation here.
If you invest Rs 15 lakh in National Savings Certificate, on maturity you will get more than Rs 6.50 lakh in the form of interest in addition to the investment amount. You can see the complete calculation here.
National Savings Certificates NSC, Post Office
Schemes: National Savings Certificate (NSC) is a popular and reliable Small Savings Scheme of the Post Office, which guarantees you better returns with almost no risk. If you want a stable and safe investment, then this government scheme can be a great option for you. By investing in it, you get a return which is much higher than a bank savings account, and the interest on it is also equal to the FD scheme of many banks.
If you deposit 15 lakhs in NSC, you will get 6.50 lakh interest, know the calculation
The current interest rate in this is 7.7% per annum. And this interest is compounded, meaning every year you will get the benefit of interest on interest. The thing to note is that you will get the payment of interest after maturity, i.e. after 5 years. For example, if you invest Rs 15 lakh in National Savings Certificate (Post Office Savings), then on maturity you will get more than Rs 6.50 lakh in the form of interest in addition to the investment amount. You can see the complete calculation here.
Deposit amount – Rs 15 lakh
Interest rate – 7.7% compounded annually
Tenure – 5 years
Total amount on maturity – Rs 21,73,551
Interest benefit – Rs 6,73,551
So, for Rs 15 lakh, you will get a benefit of about Rs 6.7 lakh after 5 years, which is a great return.
Who can invest and how much money to buy NSC?
You can buy National Savings Certificate (NSC) from any branch of the post office. To invest in it, there should be a minimum amount of Rs 100, and you can invest as much as you want. There is no maximum limit for this. You can also open it in a single account or a joint account. Also, it is issued in the form of a passbook. Here’s an interesting thing – you can also buy NSC in the name of your minor children, making it an excellent investment option for the child’s financial future. However, certain individuals, such as NRIs (Non-Resident Indians), HUFs (Hindu Undivided Families), companies, and trusts cannot become a part of this scheme.
What is the tax status on NSC?
Investing in NSC gives you tax exemption under section 80C of Income Tax, but keep in mind that this exemption is available only on investments up to Rs 1.5 lakh. Now, talking about interest, the interest received for the first 4 years will be reinvested, so that you can get tax exemption. But after 5 years, you will have to pay tax on the interest received, and that will be according to your tax slab.
Facility to withdraw money
One special thing about NSC is that you cannot withdraw it before maturity. If the account holder dies, then there may be some change in that situation, but in general there is no facility to withdraw money.
If you want to invest with a safe and fixed return, then National Savings Certificate (NSC) can be a great option for you. It offers tax exemption, attractive interest rate, and freedom to invest any amount from minimum investment amount to a large amount. So, if you are looking for good returns without any risk, then you can consider investing in NSC.
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