National Savings Certificate (NSC) is a savings scheme offered by the Indian government that allows individuals to invest their money for a fixed period of time and earn a guaranteed rate of return.
NSC has a maturity period of 5 years and the current interest rate is 7% per annum (compounded annually). The minimum investment amount is Rs. 1000 and there is no maximum limit on the investment.
To apply for a National Savings Certificate (NSC), you need the following documents:
- Identity proof: Any government-issued photo identification document such as Aadhaar Card, Passport, Voter ID card, Driving License, PAN Card, etc.
- Address proof: Any government-issued document that has your current address such as Aadhaar Card, Passport, Voter ID card, Driving License, Utility bill, Ration card, etc.
- NSC Application form: You can get the NSC application form from your nearest post office or bank.
- Passport size photograph: You need to affix a recent passport size photograph on the NSC application form.
- Cash or Cheque: You need to pay the NSC investment amount in cash or through a cheque.
Note : NSC Interest is taxable under “Income from Other Sources”.