This scheme of Post Office makes the future of children, guaranteed returns with great interest
It is very important to do a better financial planning for the better future of children. Of course there are many options for this in the market. But as an option with guarantid returns, the National Saving Certificate of the post office i.e. NSC is also a better option. There is a provision for better returns as well as getting income tax exemption. If you want, you can easily open investment every year by opening NSC account in your nearest post office. When the time comes to the child’s higher education, then this investment made by you will be useful.
Who can open this account
Keeping in mind the future of children, any adult person can open an account in the name of the National Saving Certificate account of the post office. A maximum of three adults can also open a joint account. In addition, an account for the minor can be opened by the guardian. A parent can open an account on behalf of a minor child. A minor of 10 years or above can open an account in his own name. The most important thing is that you can open an account as much as you want.
Minimum investment amount and tax exemption
Investment can be launched with a minimum of ₹ 1000 in the National Saving Certificate Account and after this any amount can be deposited in a multiple multiple multiple. There is no maximum investment limit in this, that is, you can invest any amount at will. The investment made in this scheme is eligible for tax deduction under Section 80C of the Income Tax Act.
When will the scheme be matured
The deposit of the deposit will be on completion of 5 years period from the date of deposit. Interest will be accumulated at the end of every year and the interest of up to the first four years will be considered such that it has been automatically reinvested and will be added to the original amount of the certificate. The certificate of accumulated interest at the end of every year can be obtained at request from the post office, or can be downloaded through the Internet banking of the postal department.
Guaranteed returns with better interest
This saving scheme of the post office is currently getting 7.7 percent annual interest. You can understand the return on investment with an example. According to the official website of the post office, if you invest Rs 10,000, then you will get a return of Rs 4,490 on maturity. This will also be guaranteed. Because this scheme has no link to the market. This investment is safe because it is a savings scheme of the Government of India.
Latest business news
