SAVE YOUR CAPITAL WITH NATIONAL SAVINGS CERTIFICATE (NSC)
Everybody loves to save their hard earned money. We will approach banks, financial institutions to save our hard earned money. At this juncture, one can come across the National Savings Certificates (NSC), playing a foremost role in encouraging the practice of savings among Indians.
An exclusive document providing a sweet combination of tax savings and guaranteed returns is the National Savings Certificates (NSC). The National Savings Certificates (NSC) is the safest and the finest investment available across post offices in India.
Moneymindz is good in advising people of India regarding National Savings Certificates (NSC).
Eligibility Criteria’s To Take Up NSC:
The eligibility criteria to take up the National Savings Certificates (NSC) are given below as follows:
ØCitizen of India.
ØLevel One Executive.
ØSmall time investors.
Features of National Savings Certificates (NSC) In India:
The chief features of the National Savings Certificates are as follows:
ØNational Savings Certificates can be considered as an individual investment as well as joint investment.
ØNo investment limits is there for NSC, the investment above INR 1, 50,000 is not required for tax deduction under Section 80C.
ØPremature encashment of NSC is not allowed.
ØNSC can be transferred from one person to another.
ØCan be opened with minimum amount of INR 100.
ØNSC can be also taken on behalf of the minor.
ØNSC can be taken under various denominations like INR 100, 1000, 5000 and 10,000 under NSC Issue IX.
Advantages of Investing In National Savings Certificates
The advantages of the National Savings Certificate are given below as follows:
ØOne can transfer the National Savings Certificate from one post office to another in India.
ØSupports the premature encashment only in certain situations.
ØInvestment in NSC is best to take up loans.
ØCertificate can be taken on behalf of the minor.
ØOne can begin the investment with the small amount like INR 100.
Types of National Savings Certificates
Single Holder Certificate: The certificate issued to the policyholder on behalf of the minor/kid is single holder certificate.
Joint A Type Certificate: This kind of certificate is issued to two policyholders of the same NSC certificate.
Joint B Type Certificate: These kinds of NSC certificates are created in the name of two policyholders. However, certificate will be offered to any one of them.
So, with the help of National Savings Certificate, investors can get greatest returns and also avoid getting taxed as well.
TO KNOW MORE ABOUT NATIONAL SAVING CERTIFICATES: