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Wednesday, April 17, 2019

This Post In the Post Office is faster Than the Bank FD Double Money, Know -Details

This Post In the Post Office is faster Than the Bank FD Double Money, Know -Details
National Savings Certificate is a small savings scheme announced  by the Government of India.
Everyone wishes that his investment will be doubled in a short time, in which people opt for the option to double fast money in less time. It also wants that there is no risk to their investment. Most people prefer a bank's fixed deposit for it, but a scheme doubles your money faster than a bank FD. This scheme is the Post Office's National Savings Certificate (NSC).

National Savings Certificate is a small savings scheme announced by the Government of India. NSC can be taken from any post office in the country. NSC's Maturity Prior is 5 years. It earns 8% annual interest. NSC comes in small savings, and the government revises interest for small savings every 3 months.
Depending on the interest rate of 8%, if you buy NSC of Rs 10000, your money will double in 9 years. If you make the money in the SBI bank, it will take 10.58 years for your money to be doubled.
How to take NSC - A single holder type certificate can be purchased by any adult in their own name or in the name of their child. 100, 500, 1000, 5000, 10000 certificates are available in NSC. There is no limit to investing in this.

Tax Benefits - On the investment in NSC, tax is allowed under the Income Tax Act Section 80C. However, these allowances are available only up to 1.5 lakh rupees. NSC's VIII issue can be transferred to another person. However, such a can be done only once before its maturity.
Money security of money - In the post office, there is a sovereign guarantee on money, that means if the postal department fails to pay the investor's amount in any situation, then the government here guarantees the money of such investors. Do not put your money in any position. The government uses the money deposited in a post office scheme for its own work. For this reason, this money is also a government guarantee.