The government gives an interest of 6.8 percent on NSC. The government revises the interest rate of all small savings schemes, including the National Savings Certificate, every quarter.
NSC Interest Rate 2022: National Savings Certificate is a very popular savings instrument. Along with sovereign guarantee, it also guarantees returns. Interest gets added every year in this savings instrument with a lock-in period of five years. However, in this the subscriber gets the full amount on maturity.
NSC can also be purchased on behalf of a minor
Small to large amount can be invested in National Savings Certificate (NSC) and if planned properly, it can also be used for regular monthly income. NSC For those investors who want safe returns without taking any risk. National Savings Certificate can be purchased from any post office. Any citizen can buy NSC. He can buy NSC on behalf of a minor and can also buy it in joint name.
Interest on NSC for 2022
The government gives an interest of 6.8 percent on NSC. The government revises the interest rate of all small savings schemes, including the National Savings Certificate, every quarter. The interest rate on the National Savings Certificate in the first quarter of 2022 will be known on December 31, 2021.
interest calculation
If you buy NSC of 1000 rupees today, then according to the current interest rate, after five years you will get Rs 1389.49. If you buy one lakh NSC, then after five years you will get Rs 1.38 lakh. Buying an NSC of five lakhs will get you Rs 6.94 lakh after five years at the current rate of interest. You can buy an NSC of any amount. There is no upper limit to this.
tax benefit
Investing in NSC gives you tax exemption under section 80C. When you redeem it, no TDS is deducted but the money received by the investor is taxed according to his tax slab.
Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.
.