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NSC Calculator Post Office 2024: Investing in post office schemes still remains the choice of common people for safe and guaranteed returns. The government has increased the interest rates on many small savings schemes of post office including NSC or National Savings Certificate from April 1, 2023. Now you are getting interest at the rate of 7.7% on this. NSC is one of the popular savings schemes of the post office. This scheme is run by the government, which guarantees you safe returns. You can start investing in this scheme by visiting any post office branch. The best part is that by investing in the scheme you get the benefit of compound interest (NSC Interest Rate Calculator).
NSC Interest Rate and Maturity Period
There are two types of NSC – NSC VIII marks and NSC IX marks. But at present only the eighth issue is available for investment. The ninth issue has been discontinued since December 2015. The eighth issue comes with a lock-in period of 5 years, earning you 7.7% annual interest. That means after five years you get back both the principal amount and interest money. Additionally, you also get tax exemption under Section 80C of Income Tax on the initial investment and interest for the first four years. You get rebate on investment up to Rs 1.5 lakh.
NSC Calculator: How much interest will you get on investing in NSC?
Suppose you have invested Rs 10 lakh in NSC. On this you will get returns at the rate of 7.7 percent (NSC interest rate) per annum. Your investment will remain in lock-in period for 5 years. So according to the calculator your principal amount is Rs 10 lakh, on this you will get Rs 4,49,034 only from interest. By combining the principal amount and interest, you get a full return of Rs 14,49,034 on your investment.
How will you get money after maturity?
When your investment in NSC matures (NSC maturity period), you can withdraw it in cash. You can also choose to transfer this amount to your bank account. If you do not withdraw this money and leave it lying in NSC, then for the next two years you will continue to get the same interest rate on it like a post office savings account, but after two years this interest rate stops and your money It gets accumulated in it. Remains lying.