India Post offers nine small savings plans for the individuals who deposit their cash under small savings plans. To deposit your cash under small savings plans, then, you can also deposit your cash under these investment funds plans of the post office.
One of these nine small savings plans of the post office is the National Savings Certificate or NSC. You can likewise deposit your cash under this post office plot. In this, in addition to the fact that you get the advantage of better loan cost, yet you additionally get government security on your deposits.Let us tell you about this post office scheme.
Who can open this account
Under this plan, any Indian individual who is over 18 years old can open his account. In this, three people can likewise open their joint account. Aside from this, the account of a minor individual can likewise be opened by the guardian under this plan of the post office.
Deposit Amount
Under this, you can open your account with a minimum amount of Rs 1000 or in products of Rs 100. Under this, no maximum limit has been recommended for depositing the sum. The tax saved under this would have been qualified for allowance under area 80C of the Income Tax Act.
Maturity period
Under the National Savings Certificate Scheme of the Post Office, the maturity time frame is 5 years. Aside from this, on the passing of theaccount holder, it is shut even before the maturity time frame.
What is Interest
Under this plan of India Post, compond interest is given on deposits at the pace of 6.8 percent every year. In the event that somebodydeposits Rs 1000 under this plan, following 5 years he will get Rs 1389.49.
