If you little If you are investors and want to pick up the stock market, then the government is a best scheme for you, Saving Scheme, National Savings Certificate (NSC). In this scheme you can get guaranteed returns by investing. This popular scheme launched by the government in May 1989 is suitable for small investors. The NSC account can be opened by depositing a minimum of Rs 1,000 in any post office of the country. The duration of this scheme is 5 years. This saving scheme is currently getting interest at the rate of 7.7% per year. Interest is reviewed every quarterly. NSC depositors also receive tax under Section 80C of Income Tax.
Tax exemption on 1.5 lakhs
There is no maximum limit for investment in the NSC scheme, but under the old tax system, only investments up to Rs 1.5 lakh are given tax exemption. According to India Post, the NSC offers 7.7% annual compound interest rate for a 5 -year period. Interest is an annual compound but only paid on maturity. After the plan matures, it cannot be carried forward automatically. That is, to continue investment after completion of 5 years, the customer has to buy a new NSC certificate at the current interest rate.
How to get a guaranteed return of ₹ 1.34 lakh on investment of 300000 lakhs?
NSC certificates are available for Rs 100, Rs 500, Rs 1,000, Rs 5,000, Rs 10,000 or more. There is no limit to how many certificates you can buy. In such a situation, if you invest a lump sum of Rs 3 lakh, then let us know how much guaranteed returns will be available in 5 years.
Return on investment of Rs 3 lakh in 5 years
- Lump sum investment : 3 lakh rupees
- Interest rate: 7.7% annual compound
- Investment period: 5 year
- Maturity amount: 4,34,710 rupees
- Investment : 1,34,710 rupees
In this way, you can get a guarantee of Rs 1,34,710 by investing Rs 3 lakh for 5 years.
Latest business news