Invest in National Savings Certificate Scheme like Prime Minister Narendra Modi, get more interest than FD
6.8% interest is being paid under this scheme
It costs Prime Minister Modi Rs 8,43,123
Prime Minister Narendra Modi has recently declared his assets. Accordingly, as on June 30, 2020, PM Modi's assets are 2.85 crore. One of the savings schemes in which the Prime Minister has invested his money is the Post Office's National Savings Certificate (NSC). PM Modi has invested Rs 8,43,124 in this. Here today you are being told about this plan. So, you too can make a profit by investing in it.
Will earn more interest than FD
The scheme is currently paying interest at the rate of 6.8% per annum. The interest is calculated annually. But the amount of interest is paid after the end of the investment period. The tenure of this scheme is 5 years. However, the scheme can be extended for another 5 years after maturity.
Who can invest in NSC?
An 18 year old can invest in NSC on his own or on behalf of a minor. This account can also be opened as a joint account in the name of 3 adults.
Accounts can also be opened in the name of children
Accounts can also be opened in the name of children in this scheme. If the child is less than 10 years old, an account can be opened in his name by the parents. At the age of 10 the child can operate his own account, he gets full responsibility of that account when he becomes an adult.
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Benefit from income tax exemption
The National Savings Certificate has the benefit of income tax exemption on the deposit. Investing in NSC is tax deductible under Section 80C of the Income Tax Act. However, this discount is only available on investments up to Rs 1.5 lakh.
The account can be transferred
The NSC can be transferred from one person to another. For this the name of the old NSC holder is canceled and the name of the new NSC holder is written on the NSC.
How to invest?
If you want to invest in this scheme, you can go to any post office and open an account for it. India Post has more than 1.5 lakh post offices across the country. You can open an account anywhere.
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