One such scheme is the National Savings Certificate (NSC), which can fetch you good returns while giving you the benefit of tax savings. This scheme can be bought from any post office across the country.

The government has recently increased the interest rate on NSC from 6.8% to 7% till December 2022. So, if you want to invest your hard earned money in a scheme that gives strong returns, then NSC can be a good option for you. ,

Apart from attractive returns, NSC also offers tax saving benefits. With March at the end of financial year 2022-23, this is the last chance to plan your tax-saving investments. Under Section 80C of the Income Tax Act, investors can avail tax exemption of up to Rs 1.5 lakh by investing in NSC.

Start investing from Rs 1,000

You can start investing in NSC with just Rs 1,000 and there is no maximum investment limit in this scheme. People prefer NSC over Fixed Deposit as it offers better returns. The maturity period of this scheme is 5 years, and you can buy a certificate at any post office for an amount above Rs 1,000.

There are 3 investment options in NSC

NSC offers three types of investment options: Single, Joint and Joint with survivorship. Single refers to one person investing in the investment scheme, while two investors can jointly invest in the scheme. In joint with survivorship option, two people invest together, but only one person receives the maturity amount.

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At the same time, there are some schemes in which interest is more than fixed deposit ie FD. National Saving Certificate (NSC), Sukanya Samriddhi Yojana, Senior Citizen Saving Scheme (SCSS), Kisan Vikas Patra (Kisan Vikas Patra – KVP) are all such schemes. Good money can be made in a safe way by investing in them.

In such a situation, if you want to invest money in a government scheme for a long time and also want to avoid risk, then the Kisan Vikas Patra scheme of the post office can be a good option for you. Any adult citizen can open his account in this. If you want, you can also open a joint account in the name of 3 people.

Investment in KVP will double your money

Kisan Vikas Patra (KVP) is a savings scheme provided by the Government of India. This is a double money scheme of the Government of India where you get interest at the rate of 6.9% per annum and it doubles in 124 months (10 years and 4 months). You can start with investing as little as Rs 1,000 in KVP. There is no maximum investment limit in this. You can open any number of KVP accounts.

Post Office’s National Saving Certificate Scheme

6.8 percent interest is being received on the National Saving Certificate of the Post Office. Along with guaranteed returns on NSC, tax exemption is also available on the amount invested. The maturity period of this scheme is for 5 years. Your money will double in about 10.59 years on investment in this 5-year savings scheme.

Time deposit scheme

Post office time deposit is a great scheme to double the money. In this, the benefit of interest is available at the rate of 5.8 percent on time deposits ranging from 1 to 3 years. By investing in it, your money will double in about 13 years.

Sukanya Samriddhi Yojana

Post Office’s Sukanya Samriddhi Yojana is currently getting interest at the rate of 7.6 percent. A maximum investment of Rs 1.5 lakh and a minimum of Rs 250 can be made in this scheme in a financial year. Annual compound interest is available on this scheme. This post office scheme will double your money in nine and a half years i.e. 113 months. By the way, after 21 years of investing in this scheme, the benefit of maturity is available.

Senior Citizens Savings Scheme

Your money will double in about 113 months in the Senior Citizen Savings Scheme of the Post Office. In this scheme, the benefit of interest will be available at the rate of 7.6 percent.

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Returns are guaranteed in this small savings. In this, you also get the benefit of tax exemption under section 80C of the Income Tax Act on investments up to Rs 1.5 lakh. Due to being a government scheme, your money here also increases according to the fixed interest, while remaining completely safe.

How much interest is getting on NSC

The interest rate on National Savings Certificate is 6.8 percent. Its maturity period is 5 years. The interest rates on NSC and other small savings are reviewed by the government every quarter.

NSC: How much will be earned from interest

The interest on NSC is compounded annually but the payment is made on the payment maturity of 5 years. If you invest Rs 5 lakh in this scheme, you will get Rs 6,94,746 on maturity at 6.8 percent interest. That is, you will get the benefit of interest of Rs 1,94,746.

For how much value can NSC buy

You can buy National Savings Certificate from any branch of the post office. You can buy this certificate in denominations of Rs 100, 500, 1000, 5000 and Rs 10,000. The minimum amount for investment should be Rs 100. While there is no limit on the maximum amount.

Benefits of NSC

An amount of up to Rs 1.50 invested in NSC gets the benefit of tax exemption under section 80C of the Income Tax Act. It is getting higher interest as compared to fixed deposit. This certificate can be used as collateral. Being a government scheme, returns are guaranteed on it.

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Under this, the government has increased the interest rate on small savings schemes by up to 30 basis points for the quarter starting October 1. After this announcement, the 3-year fixed deposit in post offices has increased to 5.8 percent from the current 5.5 percent.

Government hikes interest rates

Under this announcement, the government has increased the interest rate for Senior Citizen Savings Scheme from 7.4% to 7.6%, for Kisan Vikas Patra from 6.9% to 7 percent and for fixed deposits of two and three years. Not only this, there has also been a change in the tenure regarding Kisan Vikas Patra. Let us tell you that now the maturity of KVP with 7 percent interest rate has been increased to 123 months.

No change in these plans

On the other hand, investors of savings deposits, 1-year, 5-year FD, National Saving Certificate (NCS), Sukanya Samriddhi Yojana, Public Provident Fund (PPF) have suffered a major setback, as there is no change in the interest rates on these schemes. has not been done. The investors of these schemes will continue to get the same interest rates as before. Although RBI

RBI meeting tomorrow

It is worth noting that any announcement in such schemes was made after the meeting of RBI. But this time the government has announced it a day before. Actually, the meeting of the MPC of Reserve Bank of India began on September 28 and will end on September 30. In such a situation, it is expected that the policy rates may be revised tomorrow.

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