The Second Innings - An initiative to help and support senior citizens
Second innings Home Medical Facilities for elder people Finance facilities for senior citizen Senior citizen entertainment Travel benefits for senior citizens Best food guide for senior citizens Caregiver organisations for senior citizens support for senior citizens Second Innings contact address

Name: Joydeep Saha
Camera : Nikkon D50
Location : Kumortuli
Date : 12-9-2009
Submit Your Pic

Who can purchase NSC:

  • An adult in his own name or on behalf of a minor,
  • A minor,
  • A trust,
  • Two adults jointly,
  • Hindu Undivided Family.

Where available

Available for purchase/issue at all Post Offices in India.

Minimum Purchase Value

The minimum amount of investment under NSC is Rs 100/-

Maturity of National Savings Certificate

Period of maturity of a certificate is six Years.

Nomination / Transferability:

  • Nomination facility is available.
  • Certificates can be transferred from one post office to any other post office.
  • Transfer from one person to another person permissible in certain

Denomination / Deposit limits :

  • Certificates are available in denominations (face value) of Rs. 100, Rs.
    500, Rs. 1000, Rs. 5000 & Rs. 10,000.
  • There is no maximum limit for purchase of the certificates.

    Interest/maturity value :

    • Interest is available on this scheme @ 8%, compounded half-yearly
    • With effect from 1st March, 2003, Maturity value a certificate of Rs. 100
      denomination is Rs. 160.10.
    • Maturity value of a certificate of any other denomination shall be at
      proportionate rate.
    • Interest accrued on the certificates every year is liable to income tax but
      deemed to have been reinvested.

    Premature encashment of NSC:

    Premature encashment of the certificate is not permissible except at a
    discount in the case of death of the holder(s), forfeiture by a pledgee and
    when ordered by a court of law.

    Place of Encashment/discharge on maturity :

    Can be encashed/discharged at the post office where it is registered or any other post

    Income Tax relief :

    • Income Tax rebate is available on the amount invested and interest accruing every
      year under Section 88 of Income tax Act, as amended from time to time. [under Sec 80C]
    • Income tax relief is also available on the interest earned as per limits fixed vied section
      80L of Income Tax, as amended from time to time.

    Related Topics

    Super Speciality Hospitals   Kolkata Senior citizen Finance   Kolkata Senior citizen Finance
    Kolkata Senior citizen Finance   Kolkata Senior citizen Finance   Kolkata Senior citizen Finance
Today's Forecast:
Click for Kolkata (Calcutta), India Forecast
Quote of the Day