10 Year National Savings Certificate (NSC) with 8.7% interest

The government of India has introduced a 10-year National Savings Certificate (NSC) offering you an interest rate of 8.7% per annum. National Savings Certificate (NSC) is an investment scheme offered by the Government of India with the purpose to encourage national savings. The scheme also offer tax-saving benefit. As it is offered by the Government, so it has been rated as ‘highly secured class of investment’.

Basic information about 10-year National Savings Certificate:

The scheme will be available for investment from December 1, 2011.

Investments in certificate will earn interest at the rate of 8.7% per annum, compounded semi-annually.

The certificate will be available in the denominations of Rs 100, Rs 500, Rs 1,000, Rs 5,000 and Rs 10,000. Let say, if you invest Rs 100 in the certificate, you will get Rs 234.35 after 10 years on maturity of the scheme.

There is no upper limit for investment in the scheme.

Government will announce interest rates before April, 1 of every financial year.

The certificate is easily transferable. It can be transferred from the post office where it is registered to any other post office and can be pledged as a security.

Posted on January 23, 2012, in Business and tagged , , , , . Bookmark the permalink. 1 Comment.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: