Post Office NSC Scheme: If you are planning to invest in a savings scheme, this news is important for you. The government has recently increased the interest rates on small savings schemes. The interest rate on the Post Office National Savings Certificate has also increased significantly.
This interest rate is much higher than the interest rate offered on bank fixed deposits. In this situation, you can earn good profits through the Post Office scheme. Investors also get the benefit of tax exemption under this scheme. In this article, we will share all the details about this special scheme run by the postal department.
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NSC Deposit Details
The minimum investment amount in NSC is ₹1,000, with no maximum limit. Investors can open multiple accounts under this scheme. The deposit matures after five years from the date of investment.
NSC Tax Benefits
Deposits made under NSC qualify for tax deductions under Section 80C of the Income Tax Act, helping investors save on taxes.
Transfer of NSC Account
An NSC account can be transferred to another person only under the following conditions:
- In case of the account holder’s death, the account is transferred to the nominee or legal heirs.
- If the account holder passes away, the joint holder(s) receive the account.
- The transfer is ordered by the court.
- When the account is pledged to a specified authority.
No upper limit = Maximum Savings + Tax Benefits under 80C!
Invest in National Savings Certificate today and watch your wealth grow smarter!
#ActuallyChennagide
Visit your nearest Post Office now!#InvestWithIndiaPost #InvestSmart #FinancialSecurity #TaxBenefits pic.twitter.com/wfVIJ3syRH
— Karnataka Postal Circle (@CPMGKARNATAKA) December 17, 2024
When Can You Close NSC Before Maturity?
NSC cannot be withdrawn before five years except in the following situations:
- If the sole account holder or any joint account holder passes away.
- If the account is forfeited by a pledgee who is a Gazetted officer.
- On court orders.
- If the account is pledged to a specified authority.