Best Savings Scheme: Invest Rs 15 lakh and get Rs 22 lakh govt scheme beats FD

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You can invest Rs 100, Rs 500, Rs 1000, Rs 5000, Rs 10,000 or even more in the NSC scheme. Investing in this scheme in the old tax regime also gives income tax exemption of Rs 1.5 lakh.

The stock market has been in turmoil for the last 8-10 months. Due to this, many people are avoiding investing money in the stock market and are looking for such places where their money is 100% safe. Today we are giving you information about one such National Savings Certificate (NSC) of the government, in which you can invest a few lakh rupees and collect a fund of Rs 22 lakh in 5 years.

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An NSC account can be opened in any post office in the country by depositing a minimum of Rs 1,000. The duration of this scheme is 5 years. The savings scheme, which is reviewed every quarter for rate revision, is currently paying interest at the rate of 7.7% per annum. NSC depositors also get tax benefits, as it comes under Section 80C of the Income Tax Act.

This much interest is available in NSC scheme

There is no maximum limit for investment in the NSC scheme, but under the old tax regime, tax benefits are available only on investments up to Rs 1.5 lakh. However, interest earned from NSC is taxed under the heading “Income from other sources”. Overall, the NSC scheme comes with the dual benefit of investment and tax savings. According to India Post, the NSC scheme offers 7.7% annual compound interest for a period of 5 years. If you want to continue the investment even after 5 years, then you are given a new certificate by the post office.

How much can you invest in NSC

You can invest Rs 100, Rs 500, Rs 1000, Rs 5000, Rs 10,000 or even more in the NSC scheme. Actually, there is no limit on investing money in the government’s NSC scheme. Here we are giving you information on how to create a fund of Rs 22 lakh in 5 years.

This way you can create a fund of Rs 22 lakh

• Invest Rs 15 lakh in NSC scheme at one time.
• In this scheme you will get annual compounding interest at the rate of 7.7%.
• In NSC scheme, you have to deposit money only for 5 years
• At the time of maturity you will get Rs 21,73,551.
• If you deposit Rs 15 lakh in NSC, you will get interest of Rs 6,73,551.

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