Post Office Scheme: The National Savings Certificate (NSC) scheme of the Post Office has a maturity of 5 years. 7% interest is being received annually. You get double benefit on interest. Means interest is compounded on an annual basis.
If you are looking for an investment instrument with safe and guaranteed returns for long term investment, then go to the post office. The National Savings Certificate (NSC) here is a great scheme. Understand the special thing, many times this situation comes when you have money, but you can put money in a scheme up to a certain limit. But, there is no maximum limit for investment in this small savings scheme of the post office. Also, multiple accounts can be opened in this. Tax exemption is also available. There are many other advantages too.
Get double benefit
The National Savings Certificate (NSC) scheme of the Post Office has a maturity of 5 years. 7% interest is being received annually. You get double benefit on interest. Means interest is compounded on an annual basis. However, there cannot be any partial withdrawal. Full payment will be received only on maturity. According to the post office website, if Rs 1000 is deposited in the scheme, then after 5 years you will get Rs 1403.
14,02,552 lakhs will be available on 10 lakh deposits
According to the Post Office NSC calculator, if a lump sum investment of Rs 10 lakh is made in the scheme, then a total of Rs 14,02,552 will be received on maturity after 5 years. In this, Rs 4,02,552 will be earned only from interest. Investment in National Savings Certificate (NSC) can be done from anywhere and can be done in any post office. NSC account opens with a minimum of Rs 1000. There is no maximum limit. Any amount can be deposited in multiples of Rs.100. Government guarantee is available on investment.
