The National Savings Certificate requires an initial deposit of at least Rs 1000, with additional investments allowed in multiples of Rs 100.
These deposits are eligible for tax deductions under section 80C of the Income Tax Act.
The maturity period for the deposit is five years from the date of investment.
The interest rate for the National Savings Certificate is currently 7.7% per annum, which is compounded annually.
However, the interest earned is payable only at the time of maturity.
The National Savings Certificate requires an initial deposit of at least Rs 1000, with additional investments allowed in multiples of Rs 100. There is no upper limit on the amount that can be deposited. These deposits are eligible for tax deductions under section 80C of the Income Tax Act. The maturity period for the deposit is five years from the date of investment. The interest rate for the National Savings Certificate is currently 7.7% per annum, which is compounded annually. However, the interest earned is payable only at the time of maturity. (AI image)
