Invest Rs 3 lakh in this government saving scheme, get a guaranteed return of ₹ 1.34 lakh

There is no maximum limit for investment in NSC scheme, but under the old tax system, tax exemption is available only on investment up to Rs 1.5 lakh.

If you are a small investor and want to take advantage of the stock market, then the government saving scheme, National Savings Certificate (NSC) is the best scheme for you. You can get guaranteed returns by investing in this scheme. This popular scheme launched by the government in May 1989 is suitable for small investors. NSC account can be opened by depositing a minimum of Rs 1,000 in any post office in the country. The duration of this scheme is 5 years. This savings scheme is currently getting interest at the rate of 7.7% per annum. Interest is reviewed every quarter. NSC depositors also get tax under section 80C of Income Tax.

Tax exemption on investment of Rs 1.5 lakh

There is no maximum limit set for investment in NSC scheme, but under the old tax system, tax exemption is available only on investment up to Rs 1.5 lakh. According to India Post, NSC offers 7.7% annual compound interest rate for a period of 5 years. The interest is compounded annually but is paid only on maturity. Once the scheme matures, it cannot be automatically carried forward. That is, to continue investing after the completion of 5 years, the subscriber has to buy a new NSC certificate at the prevailing interest rate.

How to get a guaranteed return of ₹1.34 lakh on an investment of ₹300000 lakh?

NSC certificates are available in denominations of Rs 100, Rs 500, Rs 1,000, Rs 5,000, Rs 10,000 or more. There is no limit on the number of certificates you can buy. In such a situation, if you make a lump sum investment of Rs 3 lakh, then let us know how much guaranteed return you will get in 5 years.

Return on investment of Rs 3 lakh in 5 years

Lump sum investment: Rs 3 lakh

Interest rate: 7.7% compounded annually

Investment period: 5 years

Maturity amount: Rs 4,34,710

Investment: Rs 1,34,710

This way, you can invest Rs 3 lakh for 5 years and get a guaranteed return of Rs 1,34,710.

The post Invest Rs 3 lakh in this government saving scheme, get a guaranteed return of ₹ 1.34 lakh first appeared on informalnewz.

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