National Savings Certificate: The Indian government offers different Little Saving Plans to take care of the speculation needs of each and every part of the general public. The National Savings Certificate (NSC) is one such plan that can give you good returns while also saving you money on taxes. You can purchase this plan at any post office in the country.
The interest rate on NSC has recently been raised by the government from 6.8% to 7% until December 2022. Therefore, NSC might be a good choice for you if you want to put your hard-earned money into a scheme that offers high returns.
NSC offers tax-saving benefits in addition to attractive returns. Since March marks the end of the fiscal year 2022-23, this is your last opportunity to plan investments that will save you taxes. By investing in NSC, investors can take advantage of a tax break of up to Rs 1.5 lakh under Section 80C of the Income Tax Act.
There is no minimum investment requirement for the NSC, and there is no maximum investment amount. Because it offers better returns, NSC is favored over fixed deposits. You can purchase a certificate for any amount above Rs 1,000 at any post office for the scheme’s five-year maturity period.
There are three options for investing with NSC: joint, joint with survivorship, and single. An individual investor can make a single investment, while two investors can make a joint investment. Two individuals invest jointly in the option of joint with survivorship, but only one receives the maturity amount.
