Natiional Savings Scheme(Viii Issue)

Salient features including Tax Rebate :

  • A single holder type certificate can be purchased by, an adult for himself or on behalf of a minor or by a minor.
  • Deposits qualify for tax rebate under Sec. 80C of IT Act.
  • The interest accruing annually but deemed to be reinvested under Section 80C of IT Act.

*In case of NSC VIII , transfer of certificates from one person to another can be done only once from date of issue to date of maturity.

*At the time of transfer of Certificates from one person to another, old certificates will not be discharged. Name of old holder shall be rounded and name of new holder shall be written on the old certificate and on the purchase application(in case of non CBS Post offices) under dated signatures of the authorized Postmaster along with his designation stamp and date stamp of Post office.

​Interest payable, Rates, Periodicity etc.

From 1.01​.2018, interest rates are as follows:-
7.6% compoundedannually but payableat maturity.
INR 100/- grows to INR 144.23 after 5 yrs. ​

Minimum Amount for opening of account and maximum balance that can be retained

Minimum of Rs. 100/- and in multiples of Rs. 100/- No Maximum Limit​​.