National Savings Letter Scheme 2020 Investment & NSC Interest Rate

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National Savings Letter Scheme 2020 | National Saving Certificate Scheme 2020 | Check NSC Calculator, Maturity & Interest Rate In India | NSC certificate calculator and interest rate chart

National Savings Letter Scheme Investment & NSC Interest Rate: This system is completely tax-free, as you can benefit from safe investment and guaranteed returns along with tax savings. A national savings letter or national savings certificate is also included in the list of small savings plans to reduce the interest rate.

The interest rate on the National Savings Certificate is determined by the government. The current interest rate on NSC is 7.6% annually. This interest amount is doubled annually. The interest rate is fixed for investments made during the mentioned period and does not change over time.

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NSC – National Savings Certificate Scheme 2020

A National Savings Certificate or NSC is an investment vehicle promoted by the Government of India. It provides benefits for individuals to invest in addition to a tax deduction. Besides, this system’s ability to take risk is very low and provides a stable income.

The National Security Council is classified as a fixed-term investment plan. It is one of the popular charts like Lock Provident Box (PPF) or Kisan Vikas Patra (KVP). This tool helps individuals develop savings and investment habits. So, let’s deeply understand the benefits of a National Savings Certificate, a National Savings Certificate, its tax application, etc.

Benefits of the National Savings Certificate

  • A person investing in a national savings card can save their taxes. This is the tax savings system.
  • There is no limit to purchasing NSC National Savings Bonds.
  • You can save tax under Law 80C of Income Tax on Investments up to Rs 1.
  • The prices of national savings bonds have now risen after 2012.
  • National savings bonds can now be purchased for Rs. 147.61 instead of Rs. 100.
  • You can obtain a national savings certificate from any post office across the country.
  • Filter making facilities are provided.
  • A higher interest rate than the savings account.
  • Tax exemption of one and a half lakh under the National Security Council plan.
  • If it is lost or destroyed, a new problem may occur.
  • You can save and save your money.

Eligibility to buy a national savings certificate

  • It must be an Indian citizen to be able to purchase the certificate.
  • It must be over 18 years old.
  • Any of your ID cards (original voter card, Aadhaar card, driver’s license, etc.)
  • Proof of address
  • If you want to buy NSC in the name of your company, you cannot buy it.

Type of National Security Council certificates

To meet the different needs of individuals, the National Security Council certifications are divided into three types:

  • Single bearer certificate: In this category, a certificate is issued on behalf of a minor himself or an investment made.
  • A common type of certificate: Here, the certificate is issued to both adults. Additionally, accrual income is paid in conjunction with adults.
  • Joint Type B Certificate: In this case, the certificate is issued again to both individuals. However, the amount of the benefit is paid to each of the owners.

How to buy a national savings letter from NSC?

It is very easy to buy a National Savings Certificate. It can be purchased from any post office. For this, you must take the necessary documents to the post office and fill out a form. You have to tell the amount of investment. It can be paid by check and cash.

The most important thing about this scheme is that it also has the option of saving taxes. Tax exemption is provided to the customer under the 80C Income Tax Law and TDS is not deducted.

Note – Payment will be opened on the checking account only when the check is cleared.

  1. Download: National-Saving-Certificate-Application-Form-PDF
  2. Post-Office Saving Schemes (NSC) Official Website: Click Here

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