Investment in NSC: If you are looking for safe investment and great interest, then post office scheme can prove to be better for you. There are many such schemes of post office. Which earns great interest.
National Savings Certificate
If you want to invest without any risk then you should invest in post office schemes. If you want to invest money in a safe and government scheme, then you can invest in the National Savings Certificate. It is a safe investment as it is part of the small savings scheme of the post office.
At present, the interest rate of 6.8 percent is being given in this scheme. Annual interest keeps on adding to it. You will be paid on maturity. The maturity period in this scheme is 5 years. If you want, you can later extend it for another 5 years. You have to invest a minimum of Rs 100 in this. There is no limit for maximum investment.
Income tax exemption
If you also invest in NSC, then you will also get tax exemption by investing up to Rs 1.5 lakh every year under Section 80C of Income Tax. In case of taxable income, the amount is deducted from the total income.
Earn Rs 20.85 lakh in 5 years
If you invest Rs 15 lakh in this, then the amount invested in 5 years at the rate of 6.8 per cent will become Rs 20.85 lakh. That is, you are getting about Rs 6 lakh interest in 5 years.
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