Scheme specially designed for Government employees, Businessmen and other salaried classes who are Income Tax assesses.
No maximum limit for investment.
No Tax deduction at source.
Certificates can be kept as collateral security to get loan from banks.
Investment up to INR 1,00,000/- per annum qualifies for IT Rebate under section 80C of Income Tax Act.
Trust and HUF cannot invest.
Rate of interest 8.50%.
NSC IX Issue
No maximum limit for investment.
INR. 100/- grows to INR 238.87 after 10 years.
Minimum INR. 100/- No maximum limit available in denominations of INR. 100/-, 500/-, 1000/-, 5000/- & INR. 10,000/-.
A single holder type certificate can be purchased by an adult for himself or on behalf of a minor or to a minor.
Rate of interest 8.50%.
Buy National Savings Certificates (NSCs) every month for Five years – Re-invest on maturity and relax - On retirement it will fetch you monthly pension as the NSC matures.
