The government has kept small savings interest rate unchanged for October to December 2020 quarter. That means Post Office Schemes will continue to fetch 6.8 per cent per annum for investors.
The government has kept small savings interest rate unchanged for October to December 2020 quarter. That means Post Office Schemes will continue to fetch 6.8 per cent per annum for investors. It is a good news for those investors who have zero risk appetite and want guaranteed return on their investment. Post Office Small Savings Schemes are tried and tested and it helps an investor to grow money many-folds in a small time span. National Savings Certificate is one such plan that attracts the majority of the Post Office Small Saving Scheme investors. This investment tool helps investors to start an investment with just Rs 100 and they can still hope to earn a big amount and that too in just five years. Also, if the amount invested is raised, investors can become millionaires without taking any risk at all.
What is National Saving Certificate
Speaking on the National Savings Certificate SEBI registered tax and investment expert Jitendra Solanki said, “National Saving Certificate is one of the small saving schemes offered by the India Post. Since it is a government-backed investment tool, an investors’ money here is considered more safe than even in banks. So, investors’ money being parked here is free from any risk.”
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Top benefits of National Savings Certificate
Solanki went on to add that the maturity period of the National Savings Certificate scheme is fixed for 5 years. However, an investor can withdraw money from account after 1 year with certain conditions. The interest rates are set by the government at the beginning of every quarter (3 Months) of the financial year. The tax and investment expert went on to add that one can start investing in National Savings Certificate with Rs 100 only.
National Savings Certificate Calculator
On how one can become a millionaire in just five years through investment in National Savings Certificate, Manikaran Singhal, SEBI registered tax and investment expert, said, “In NSC scheme, one can maximise one’s return on lumpsum investment. Using the NSC Calculator, if an investor invests Rs 1 lakh in this India Post scheme, the net return after five years will be Rs 1,38,949.”
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