Post Office scheme: You can open unlimited accounts in this scheme of Post Office, you will get tax exemption along with guaranteed returns

There is no maximum investment limit in this Post Office scheme. A minor above 10 years of age can also open an account in his or her name under this scheme.

If you do not want to take risk in investment, then you should turn to such a saving scheme, where the safety of your money is assured and you can also get good returns. One of the saving schemes of the post office is National Savings Certificate i.e. NSC, which is an excellent investment instrument to fulfill your aspiration and objective. Under the 5-year Post Office Saving Scheme – National Savings Certificate (VIII Issue), you can open as many accounts as you want and there is no limit on maximum investment. Not only this, the amount deposited in it is also eligible for deduction under Section 80C of the Income Tax Act. Let us know about this scheme in detail.

Who can open an NSC account

According to the official website of India Post, an adult can open it. Apart from this, three adults can open a joint account together. Not only this, a guardian can also open an account under the Post Office National Savings Certificate Scheme on behalf of a minor or a mentally ill person. A minor above 10 years of age can also open an account in his name.

How much amount can one start investing?

You will be happy to know that investment can be started in the Post Office National Savings Certificate Scheme with just Rs 1000. Apart from this, you can invest as much as you want in multiples of 100. Keep one thing in mind, in this scheme, the deposit amount matures after completion of five years from the date of deposit.

How much interest is being received on the investment amount?

India Post NSC account is currently getting a return of 7.7 percent. Let us tell you, since the National Savings Certificate Scheme is a saving scheme of the Government of India, the amount invested in it is completely safe. The government reviews the interest rates on all small savings schemes on a quarterly basis and also revises it from time to time.

When can this account be closed

Keep one thing in mind that NSC cannot be closed before 5 years, unless some special circumstances arise. Like on death of a single account holder, or death of any or all account holders in a joint account, mortgage of an account by a gazetted officer or any court order, only then this account can be closed.

In this situation the account is transferred

The account opened under the Post Office National Savings Certificate Scheme can be transferred from one person to another only to the nominee/legal heir on the death of the account holder, to the joint holder(s) on the death of the account holder, on the order of the court or on mortgage of the account with the specified authority.

(Disclaimer: This news is for information only. Consult your financial advisor before investing.)

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