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National Savings Certificate (VIII Issue) Calculator

National Savings Certificate is an excellent investment for adults as it's safe (guaranteed by Government of India), pays guaranteed interest income (at maturity) and provides tax exemption under 80C. This calculator computes the interest gained and final maturity amount on your investment. This scheme is available through most of the post-offices of India.




About Fintra's National Savings Certificate (VIII issue) Calculator

If you are seeking to save tax by investing, then there are various options available under the section 80C of the Income Tax Act. National Savings Certificate (VIII Issue) or NSC is one such investment scheme option. Bein a fixed income scheme, it was created by the Government of India for the Indian resident to encourage savings. Guaranteeing with good returns, this savings bond encourages mid-income and small investors to save. Their lock-in period is five years, and the current rate of interest is 6.8%. Investing in NSC qualifies for section 80C tax deduction up to Rs 1.5 lakhs, and the interest earned can be calculated using Fintra's NSC calculator. 

 

How to use Fintra's National Savings Certificate (VIII issue) Calculator?

Fintra's National Savings Certificate (VIII issue) Calculator enables you to calculate the returns on your investment. To obtain accurate results you need to provide the following data:

  1. Amount Invested– This refers to the amount deposited in the account.
  2. Annual Interest Rate – It's the NSC (VIII) rate of interest. 
  3. Time Period

When all data has been filled in into the National Savings Certificate (VIII issue) Calculator, click on “Submit”, and instantly results will be displayed.

 

 

FAQs about National Savings Certificate (VIII Issue):  

 

Other than National Savings Certificate NSC, what are other tax-saving investments?

The other tax-saving investments, which qualify for Section 80C of the Income Tax Act are Sukanya Samriddhi Yojana, Senior Citizens Savings Scheme, Equity Linked Savings Scheme, National Pension Scheme, and Public Provident Fund

Is NSC a good investment in option?

National Savings Certificate is a secured and low-risk instrument such as other fixed-income products like PPF and Post Office FDs. It requires a minimum deposit of Rs 100, and there is no cap on the maximum limit. No TDS for NSC investments. 

How to obtain funds after NSC maturity?

Upon maturity, you can encash the investment in hard cash. Alternatively, you can also choose to transfer it to your bank account. Moreover, if you fail to withdraw, then the investment will earn interest, and it'll be similar to post office savings account for two years. However, post which the investment will not be earning interest.

Can withdrawals of NSC be done before maturity?

Premature withdrawals aren't acceptable, but in exceptional cases, premature withdrawals can be acceptable.

What are the features of National Savings Certificate (VIII issue)?

  1. There is no maximum limit for investment.
  2. NSC deposits qualify for tax rebate under Sec. 80C of IT Act.
  3. There is no Tax deduction at source.
  4. Certificates are kept as collateral security to obtain loans from banks.
  5. The single holder type certificate could be purchased by an adult for himself/herself or on behalf of a minor or to a minor.

What are the various types of National Savings Certificate (VIII issue) Certificates? 

The three different types of National Savings Certificates are: 

  1. Single Holder Type Certificate: This is issued to individuals (the holder) or individuals on behalf of a minor. 
  2. Joint A Type Certificate: This certificate is issued jointly to two adults. On maturity, the NSC will be paid to both of the joint holders.
  3. Joint B Type Certificate: This type of certificate is also issued jointly to two adults but on maturity, the NSC will be paid to one (either one) of the joint holders.

What documents are required for the National Savings Certificate (VIII issue)?

The documents required for obtaining the National Savings Certificate (VIII Issue) are:

  1. NSC Application form that's has been filled up with applicant's details 
  2. Recent Photograph
  3. Identity proof – Aadhaar card, PAN, etc.
  4. Address proof – Aadhaar card, Voter ID, etc.
  5. Cash/cheque deposit of the amount to be invested

These documents need to be submitted at any India Post Office to get the NSC in applicable denominations.

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