Post Office Scheme: Get Rs 14 lakhs in 5 years if you invest Rs 10 lakhs
Post Office Scheme National Saving Certificate: This is the post office’s most popular scheme since it provides investors with substantial returns. The scheme’s unique feature is that you can invest as much as you want. Furthermore, it is not susceptible to market risks and is capable of generating significant profits for its customers.
What is the National Savings Certificate Scheme?
The National Savings Certificate (NSC) is a well-known post office scheme. Under this scheme, an investor can purchase a certificate equal to their investment from the post office. This is a small postal savings program. It can be invested according to your needs. This scheme requires a minimum investment of Rs 1,000. However, there is no limit to the amount of investment.
Interest and investment period of the scheme
National Savings Certificates are offered by the Post Office at a rate of 6.8%. Make note that this interest is compounded. This plan allows you to invest money for a maximum of five years. Investing Rs 1,000 in this scheme will yield a return of Rs 1,340 after five years, so keep that in mind. The scheme should only be invested in multiples of Rs. 100.
Here are some unique features of the NSC scheme
You can create a single or joint account under the NSC plan.
Two or three individuals can open a joint account at the same time.
A 10-year-old child’s account is under parental supervision until the youngster becomes 18 years old.
By investing in this scheme, you are eligible for a Section 80C tax rebate of Rs. 1.5 lakh.
Learn how much the customer will receive in return
An investor who invests Rs. 10 lakh in this scheme after five years would earn a return of Rs. 13.40 lakh. You would collect Rs 3.40 lakh in interest from this scheme in just 5 years. To take advantage of this scheme, you can open an account at any nearby post office.
