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What are the ways to redeem of nsc certificate in India?

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 kruthika asked over 2 years ago

What are the ways to redeem of nsc certificate in India?

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4 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 veeru answered over 2 years ago

1- Premature Encashment (a) Is permitted only on the death of the holder Or any of the holders in case of joint holders (b) On forfeiture by a Pledge being a Gazetted Government Officer (c) When ordered by court of law 2- Maturity Encashment a) After Completion of 6 years for NSC VIII Series b) After Completion of 10 years for NSC IX Series

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 narahari answered over 2 years ago

Well as you have NSC bond(s) which is/are near to maturity, so now you just need to visit your local post office and collect a maturity bond/ redemption form and complete the procedure accordingly. You can get complete procedure written on the form else can consult the department (Post Office) if you want.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 CA Sandeep Bohra answered over 2 years ago

Dear Friend, The duration of the National Savings Certificate Scheme – NSC VIII Series is six years and ten years for NSC IX Series and the NSC certificates can be enchased at the end of this period, wherein the principal, along with the cumulative interest, is paid to the investor. The holder can apply for encashment at any post office that does savings bank work, not necessarily at the post office from where the NSC was purchased and registered (You also need to submit NSC transfer form along with encash application. **When can I encash my NSC?** 1- Premature Encashment (a) Is permitted only on the death of the holder Or any of the holders in case of joint holders (b) On forfeiture by a Pledge being a Gazetted Government Officer (c) When ordered by court of law 2- Maturity Encashment a) After Completion of 6 years for NSC VIII Series b) After Completion of 10 years for NSC IX Series **How the amount is paid?** The amount is to paid in cash or credited to an Saving Bank Account.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Jyoti answered over 2 years ago

Well as you have NSC bond(s) which is/are near to maturity, so now you just need to visit your local post office and collect a maturity bond/ redemption form and complete the procedure accordingly. You can get complete procedure written on the form else can consult the department (Post Office) if you want. Second, can visit to the website India Post (indiapost.gov.in)| Financial Services | POSB | National Savings Certificates (NSC) where you can also get the information and procedure to follow in this regard

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