Let us know the complete details of the Post Office National Savings Certificate.
The National Savings Certificate (NSC) of the Post Office is one of the best small savings schemes for the Post Office.
There is no maximum limit for investment in Post Office National Savings Certificate (NSC) schemes.
The most prominent feature of this scheme is that multiple accounts can be opened in it.
In this post office scheme, interest is being received at the rate of 7 percent annually from January 2023.
In National Savings Certificate (NSC) schemes, interest is compounded on an annual basis and is paid only at maturity.
According to the information available on the post office website, the maturity of this scheme is 5 years.
Tax deduction of up to Rs 1.5 lakh can be availed under section 80C of income tax on investment in these schemes.
A National Savings Certificate account can be opened in any branch of the post office. Any adult can open an account.