Explanation

The National Savings Certificate (NSC) is a safe and government-backed savings scheme in India🔐, encouraging people to save money. The scheme is open only for individual Indian residents and offers nomination facility as well. It offers a fixed interest rate of 7.7% per year currently, with a minimum investment requirement of ₹.1,000. The lock-in period is 5 years⌚ for the NSC scheme, and investors can get tax benefits up to ₹.1.5 lakh under Section 80C of the Income Tax Act. Use the post office NSC calculator here for better estimation.✅

HUFs, trusts, NRIs, and companies – we hate to break it to you, but NSC is for individuals only. The rest of you, sit this one out!

NSC returns calculator🧮 provides a definite answer to how much you will get out of your NSC. It can be used as collateral for loans. While it offers a fixed income, it may not beat inflation. Tax benefits apply to the invested amount ( up to ₹.1.5 lakh under Section 80C) and there is no TDS on interest. Since for the first 4 years, interest is reinvested into the NSC, it is not taxed (upto ₹1.5 lac.) The interest earned in the fifth year however is taxable according to the investor's slab rate💰.

You can invest in NSC electronically💻 or through authorized banks🏦 and post offices. Documents necessary to invest in NSC include identity and address proofs with a photograph.📑📹

In summary, NSC is a secure investment suitable for those who prefer stable returns and want to save on taxes. Although it may not offer high returns, its government support and guaranteed interest make it an appealing choice for risk-averse individuals.✅💰

The formula to determine interest

A = P * (1+ r) ^ 5
Where,
I = A – P
A = Maturity value
P = Principal amount
r = Rate of interest per year
I = Interest earned amount

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