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.
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.
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:
When all data has been filled in into the National Savings Certificate (VIII issue) Calculator, click on “Submit”, and instantly results will be displayed.
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.
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.
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.
Premature withdrawals aren't acceptable, but in exceptional cases, premature withdrawals can be acceptable.
The three different types of National Savings Certificates are:
The documents required for obtaining the National Savings Certificate (VIII Issue) are:
These documents need to be submitted at any India Post Office to get the NSC in applicable denominations.