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National Savings Certificates (NSC) is a popular investment scheme in India offered by the Government of India. It is a fixed-income investment option that allows individuals to save money and earn a guaranteed return on their investment. In this guide, I will provide you with a complete overview of the NSC scheme in India.

 

1. What is NSC?

   NSC is a fixed-income savings scheme offered by the Department of Posts, Government of India. It is a small savings instrument that provides guaranteed returns.

2. Types of NSC:

   There are two types of NSC:

   a. NSC VIII Issue: This scheme has a maturity period of 5 years.

   b. NSC IX Issue: This scheme has a maturity period of 10 years.

3. Eligibility:

   Any Indian citizen can invest in NSC. The scheme is available to individuals, joint individuals, or minors (through their guardians).

4. Features of NSC:

   a. Interest Rate: The interest rate on NSC is set by the government and is compounded annually. The interest rate is subject to change periodically.

   b. Maturity Period: NSC VIII Issue has a maturity period of 5 years, while NSC IX Issue has a maturity period of 10 years.

   c. Minimum Investment: The minimum investment amount for NSC is Rs. 100, and there is no maximum limit.

   d. Tax Benefits: The investment made in NSC qualifies for a deduction under Section 80C of the Income Tax Act, up to a maximum of Rs. 1.5 lakh.

   e. Transferability: NSC can be transferred from one post office to another.

   f. Nomination Facility: Investors can nominate one or more persons to receive the maturity proceeds.

5. How to invest in NSC: