National Saving Certificate Scheme: The month of March is considered very important from financial point of view. The financial year ends in this month. In such a situation, if you want to invest for tax saving, then you have the last chance. Post Office offers many types of small saving schemes in which you get many other benefits along with tax exemption. Today we are telling you about National Savings Certificate, one of the popular schemes of the post office.
Getting the benefit of strong interest rates
By investing in National Savings Scheme i.e. National Savings Certificate (NSC) Scheme, you are getting the benefit of 7.7 percent interest rate. This is a five-year savings plan, in which you can invest any amount ranging from just Rs 1000 to multiples of Rs 100. This is a backed scheme in which you are guaranteed safe returns when you invest.
Who can invest in NSC-
Any person above 18 years of age can invest in National Savings Certificate (NSC). Whereas the NSC account of a child above 10 years of age can be opened under the supervision of parents. You can open this account single or joint (with three people).
Available benefit of tax exemption
If you are looking for investment option for tax saving then you can invest in National Saving Certificate Scheme. By investing in this scheme, you are getting a rebate of Rs 1.50 lakh under Section 80C of Income Tax. The lock in period of this scheme is 5 years. You can get it opened by going to any post office nearest to you.
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