Latest Updates on National Savings Certificate
NSC IX Issue
No maximum limit for investment.
INR. 100/- grows to INR 238.87 after 10 years.
Minimum INR. 100/-
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.
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.
Who can purchase NSC:
- An adult in his own name or on behalf of a minor,
- A minor,
- A trust,
- Two adults jointly,
- Hindu Undivided Family.
Where is National Savings Certificates available
Available for purchase/issue at all Post Offices in India.
Minimum Purchase Value
The minimum amount of investment under NSC is Rs 100/-
Maturity of National Savings Certificate
Period of maturity of a certificate is 10 years under scheme IX and 5yrs in Scheme IIIV.
Nomination / Transferability:
- Nomination facility is available.
- Certificates can be transferred from one post office to any other post office.
- Transfer from one person to another person permissible in certain
Denomination / Deposit limits :
- Certificates are available in denominations (face value) of Rs. 100, Rs.
500, Rs. 1000, Rs. 5000 & Rs. 10,000.
- There is no maximum limit for purchase of the certificates.
Interest/maturity value :
- Interest is available on this scheme @ 8.90%, compounded half-yearly
- With effect from 1st March, 2003, Maturity value a certificate of Rs. 100
denomination is Rs. 160.10.
- Maturity value of a certificate of any other denomination shall be at
- Interest accrued on the certificates every year is liable to income tax but
deemed to have been reinvested.
Premature encashment of NSC:
Premature encashment of the certificate is not permissible except at a
discount in the case of death of the holder(s), forfeiture by a pledgee and
when ordered by a court of law.
Place of Encashment/discharge on maturity :
Can be encashed/discharged at the post office where it is registered or any other post
Income Tax relief :
- Income Tax rebate is available on the amount invested and interest accruing every
year under Section 88 of Income tax Act, as amended from time to time. [under Sec 80C]
- Income tax relief is also available on the interest earned as per limits fixed vied section
80L of Income Tax, as amended from time to time.
- A single holder type certificate can be purchased by an adult for himself or on behalf of a minor or to a minor.
National Savings Certificate
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