Post Office Scheme: Invest Rs 25,000 and earn up to Rs 21 lakh; know how
NSC is a tax-saving option. Under Section 80C of the Income Tax Act, 1961, NSC investors get tax exemption on investments up to Rs 1.5 lakh per annum.
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Updated: Aug 3, 2021, 07:46 AM IST
National Savings Certificate: While investing money, an investor has only two things in mind - security and good returns. Post Office has many saving plans which assure both of these.
One such scheme that India Post offers is the National Saving Certificate (NSC). You can get more interest than Fixed Deposit (FD) rates at many banks. The post office s NSC scheme is currently offering a 6.8% interest rate. Keep in mind that the money you invest in the NSC will continue to add interest annually, but you will be paid on maturity at the same time.
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Highlights
Finance Ministry usually reviews the interest rates on small saving schemes every quarter.
Sukanya Samriddhi Yojana will fetch a 7.6% interest rate annually.
New Delhi: The Finance Ministry has decided not to revise the interest rates on small saving schemes for quarter three of the financial year 2021-2022. This means that interest rates on schemes such as Public Provident Funds (PPF), Senior Citizens Saving Schemes (SCSS), and National Saving Certificate (NSC), among others, remain unchanged for three months starting July 2021. For those uninitiated, small savings schemes are offered by the Government of India, banks or public financial institutions to encourage citizens to make small deposits for their future.