NSC Calculator Post Office 2023: From April 1, 2023, the government has increased the interest rates in many small savings schemes of the post office, including NSC. Now you are getting interest on it at the rate of 7.7%.
NSC Calculator Post Office 2023: Investment in Post Office Schemes still remains the choice of common people for safe and guaranteed returns. From April 1, 2023, the government has increased the interest rates in many small savings schemes of the post office, including NSC or National Savings Certificate.
Now you are getting interest on it at the rate of 7.7%. NSC is one of the popular savings schemes of the post office. This scheme is run by the government, so that you are guaranteed safe returns. You can start investing in this scheme by visiting any post office branch. The best thing is that you get the benefit of compounding interest ie compound interest (NSC Interest Rate Calculator) on investing in the scheme.
NSC Interest Rates & Maturity Period
There are two types of NSC – NSC VIII Issue and NSC IX Issue. But now only the eighth issue is available for investment. The ninth issue has been discontinued since December 2015. The eighth issue comes with a lock-in period of 5 years, on which you get 7.7% interest per annum.
That is, after five years, you get back both the principal amount and the interest amount. Apart from this, you also get tax exemption under section 80C of Income Tax in the first four years on the initial investment and interest. You get a rebate on investing up to 1.5 lakhs in it.
NSC Calculator: How much interest will be earned on investment in NSC?
Suppose you invest Rs 10 lakh in NSC. On this you will get a return (NSC Interest Rate) at the rate of 7.7% annually. Your investment will be in lock in period for 5 years. So according to the calculator, your principal amount is 10 lakhs, on this you will get Rs 4,49,034 only from interest. And by including the principal amount and interest, your investment gives you a full return of Rs 14,49,034.
How do you get money after maturity?
When your investment in NSC becomes mature (NSC maturity period), then you can withdraw it in cash. You can also choose to transfer this amount to your bank account. If you do not withdraw this money and keep it lying in NSC, then you will get the interest rate of post office savings account for the next two years, but after two years this interest rate will stop and your money will be deposited in it. remains lying
