In today’s era, everyone is looking for maximum return on their investment. For this reason many people ignore Small Saving Schemes. But at this time a lot of interest is being received in the small savings scheme as well.
Post Office is offering many best and popular small savings schemes. These include National Savings Time Deposit Scheme (TD), National Savings Monthly Income Scheme (MIS), Public Provident Fund (PPF), National Savings Certificate (NSC), Kisan Vikas Patra (KVP), Sukanya Samdhi Yojana (SSY), Senior Citizens Savings Scheme (SCSS), National Savings Recurring Deposit (RD).
National Savings Certificate is most liked by people for small savings schemes. In this, along with high interest, tax exemption is also available. The interest rate on 5-year NSC has been reduced to 7.7 percent. Let us tell you that at present no big bank of the country is giving this much interest. In such a situation, it can be more beneficial for you to invest in NSC. According to India Post, under this scheme, an account can be opened with a minimum of Rs 1000. In this, you can deposit in multiples of 100 rupees. At the same time, the maximum limit of investment in this is not fixed.
Where can the account be opened
The account under NSC can be opened in the post office branch across the country. Who can invest: Any person can invest in it. You can also buy it in the name of your children. The maturity period of these certificates is 5 years. Interest is added every year and this money keeps on increasing with compound interest. The thing to keep in mind here is that tax exemption is available only on investment up to 1.5 lakhs.
When can you withdraw the money, its maturity is 5 years. The good thing is that if you fulfill certain conditions, you can withdraw the account amount after the maturity period of 1 year. The interest rate in National Savings Certificate is changed or fixed every 3 months.
That’s why the investor should also change the amount of investment along with the increasing interest rates. The biggest feature of this scheme is that this scheme is government. That is, one, your money is completely safe and the other is that you will get as much return as the government has said. Apart from this, you do not have to run a lot.
