look news india
Post Office NSC Scheme: If you are thinking of earning bumper profits by investing in Fixed Deposit (FD), then this news is of great use to you. Actually, many banks give guaranteed returns on FD to their customers for different periods. Apart from this, there are many government schemes where you get more interest on FD than banks. One such scheme is National Savings Certificate (NSC) where you get higher returns than bank FD. This scheme runs under the post office, so there is no risk in investing in it. Let us tell you that in this scheme you get better returns as well as tax exemption. Let us know the special things related to this scheme in detail.
How much interest do you get?
Let us tell you that the National Savings Certificate (NSC) scheme of the post office is a savings certificate like FD in which investment is made for 5 years. At present, customers are getting 7.7 percent interest on this scheme. Whereas for this period, SBI is giving interest of 6.50%, Punjab National Bank 6.50%, Bank of India 6.50%, HDFC 7% and ICICI Bank 7%.
How much can you invest?
Customers can start investing in the Post Office National Savings Certificate Scheme with a minimum of Rs 1,000. Let us tell you that there is no limit on maximum investment in this scheme. This scheme matures in 5 years. Whereas interest is compounded on an annual basis. Under this scheme, accounts can also be opened in the name of children.
How much is the tax benefit?
Let us tell you that on investing in the National Savings Certificate Scheme of the Post Office, customers get a rebate of Rs 1.50 lakh under Section 80C of Income Tax. Apart from this, no TDS is deducted on the interest received under investment in this scheme.