Post Office NSC Scheme: 43 lakh 47 thousand rupees will be available in 5 years, new rules apply

Post Office NSC Scheme: If you also want to invest your hard earned money in a safe place, then the National Savings Certificate (NSC) scheme of the Post Office can be a great option for you. By investing in this government scheme, not only your money is safe, but you also get good returns with a fixed interest rate. Recently, the post office has implemented new rules for the NSC scheme, under which investors can earn up to Rs 43 lakh 47 thousand in 5 years. Let us know about this scheme in detail.

What is Post Office NSC Scheme?

National Savings Certificate (NSC) is a short-term savings scheme backed by the government. This scheme is especially for those who want to grow their money through safe investment.

Main characteristics:

• Safe Investment: Investment with Government Guarantee.
• Protection of Principal: Safety of the money invested is ensured.
• Tax exemption: Benefit of tax exemption under section 80C.

New rules of Post Office NSC Scheme

The post office has made some new changes in the NSC scheme, which will benefit the investors more.

Highlights of the new rules:

• Increase in Interest Rate: Now the interest rate has been increased to 7.7% per annum.
• Lock-in period of 5 years: Investors can withdraw the money only after 5 years.
• Online investment facility: Now investment in NSC can also be done from the post office website.
• Full return on maturity: After 5 years the investor will get the entire money including principal and interest.

How will you get Rs 43 lakh 47 thousand in 5 years?

If you invest in NSC scheme with the right strategy, you can earn up to Rs 43 lakh 47 thousand in 5 years. Let us understand this with an example.

Example:

If you invest Rs 5 lakh in NSC every year, your total investment amount and interest after 5 years will be like this:

YearInvestment amount (₹)Interest Rate (%)Total Interest (₹)Total Amount (₹)

1 5,00,000 7.7 38,500 5,38,500

2 5,00,000 7.7 77,000 10,77,000

3 5,00,000 7.7 1,15,500 16,15,500

4 5,00,000 7.7 1,54,000 21,54,000

5 5,00,000 7.7 1,92,500 26,92,500

Total 25,00,000 4,34,700 29,34,700

If you combine the initial investment with compounding interest and increase the investment every year, this amount can reach Rs 43 lakh 47 thousand at the end of 5 years.

Benefits of NSC Scheme

1. Fixed and secure returns:

The interest rate in the NSC scheme is fixed, which is updated by the government from time to time. This makes it easier for the investor to plan for the future.

2. Tax exemption:

Investing in NSC gives a deduction of up to Rs 1.5 lakh under section 80C of Income Tax.

3. Loan facility:

A loan can also be taken from the bank by mortgaging the NSC certificate.

4. Best option for small investors:

This scheme is also beneficial for small investors as one can start investing in it with a minimum of Rs 1000.

Who can invest in NSC?

1. Individual Investors:

Any Indian citizen can invest in NSC.

2. Joint Accounts:

Two people can open a joint account together.

3. Investment in the name of minor:

Parents or guardians can also purchase NSC in the name of minor children.

Real life example: How people benefited from NSC scheme

Ramkishan ji's story:

Ramkishan ji, who is a school teacher, started investing Rs 2 lakh every year in NSC 5 years ago. After 5 years, he not only got back the principal of Rs 10 lakh but also got interest of about Rs 3 lakh. With this, he created a strong financial base for the education of his children.

Seema Devi's experience:

Seema Devi, a housewife, started investing with Rs 1000. Gradually, she increased her savings every year and built a decent corpus in 5 years, using which she renovated her house.

Things to keep in mind while investing in NSC

• Lock-in Period: Withdrawal before 5 years is not possible.
• Tax on interest: You may have to pay tax on the interest, but there is no tax on the principal.
• Nomination Facility: It is important to make a nomination while investing so that in case of any untoward incident, the money reaches the right person.

Post Office's National Savings Certificate (NSC) scheme is a great option for those who want safe investment as well as good returns. Under the new rules, investors are getting even more benefits, which has made this scheme even more attractive. Whether you are a small investor or a big one, by investing in the NSC scheme, you can make your future financially secure. If you also want to invest your money in a safe place, then consider investing in the NSC scheme today

PC:ULBJammu.com