Post Office Scheme: Invest ₹ 100000 and ₹ 200000 in this post office, you will get this much return
Post Office Scheme: Ever since the Reserve Bank has cut the repo rate, many banks have also started reducing the interest rates of fixed deposits. If you want to invest your money for the long term in a place where you can get better returns, then this time invest in the post office instead of the bank. Here in National Savings Certificate i.e. NSC, you will get better interest and also income tax benefit. Know how much return you will get by investing ₹ 100000 to ₹ 500000.
What is the interest rate
Post Office has a National Savings Certificate Deposit Scheme in which investment is made for 5 years. Currently, it is giving 7.7% interest.
How much return on depositing 5 lakhs
If you deposit Rs 5,00,000 in lump sum in NSC, then it will give interest of Rs 2,24,517 at the rate of 7.7% and the maturity amount will be Rs 7,24,517.
How much return on depositing 4 lakhs
If you invest Rs 4,00,000 in NSC, then you will get an interest of Rs 1,79,614 at the rate of 7.7% and the maturity amount will be Rs 5,79,614.
How much return will you get on depositing Rs 3 lakh
Investing Rs 3,00,000 in NSC will give you an interest of Rs 1,34,710 at the rate of 7.7% and the maturity amount will be Rs 4,34,710.
How much return will you get on depositing Rs 2 lakh
If you invest Rs 2,00,000 in this scheme, then you will get an interest of Rs 89,807 at the rate of 7.7% and the maturity amount will be Rs 2,89,807.
How much return on depositing Rs 1 lakh
If you invest Rs 1,00,000 in NSC, you will get Rs 1,44,903 on maturity at the rate of 7.7 percent interest. In this, you will get Rs 44,903 as interest.
Tax Benefits
Let us tell you that investment in the scheme can be started from Rs 1000, there is no maximum investment limit. Investing in NSC gives tax exemption under section 80C of the Income Tax Act.
Who can open an account
Any citizen can open an account in it. There is also a facility of joint account. Guardians can invest in it on behalf of a minor or a person of unsound mind. Minors above 10 years of age can buy it in their own name. NSC can be transferred from one person to another once between the date of issue and maturity date.
Rules for premature closure
The NSC scheme matures in 5 years. Once you invest in it, the same interest rate which was applicable at the time of investment remains applicable for the entire 5 years. There is no option of premature closure in NSC. It can be closed prematurely only under special circumstances like death of the account holder, death of both the account holders in case of a joint account or on any order of the government or court.
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