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[QUOTE=ijt.jency;299958][B][U]Name of the Organization  [/U][/B]: India Post
[B][U]Type of Facility  [/U][/B]: National Savings Certificates (NSC) Issuance Procedure
[B][U]Location [/U][/B]: India

[B][U]Website  [/U][/B]: [URL]http://www.indiapost.gov.in/NSC.aspx[/URL]

[B][U]National Savings Certificates (NSC)  [/U][/B]:
National Saving certificate is issued by Post Offices in India and is a very good small saving scheme. Do you know that investment in NSC can be created in such a way that it provides regular fixed income and can be used as one of the retirement planning options. National Saving certificates are purchased mainly for tax saving purpose. Investment up to Rs. 1 lakhs can be claimed under 80C for income tax purpose.

[B][U]NSC VIII Issue [/U][/B]:
** Scheme specially designed for Government employees, Businessmen and other salaried classes who are Income Tax assesses.
** No maximum limit for investment.
** No Tax deduction at source.
** Certificates can be kept as collateral security to get loan from banks.
** Investment up to INR 1,00,000/- per annum qualifies for IT Rebate under section 80C of Income Tax Act.
** Trust and HUF cannot invest.
** Rate of interest 8.50%.
** Maturity value of a certificate of INR.100/- purchased on or after 1.4.2012 shall be INR. 151.62 after 5 years.

[B][U]NSC IX Issue [/U][/B]:
** No maximum limit for investment.
** INR. 100/- grows to INR 234.35 after 10 years.
** Minimum INR. 100/- No maximum limit available in denominations of INR. 100/-, 500/-, 1000/-, 5000/- & INR. 10,000/-.
** A single holder type certificate can be purchased by an adult for himself or on behalf of a minor or to a minor.
** Rate of interest 8.80%.
** Maturity value of a certificate of INR.100/- purchased on or after 1.4.2012 shall be INR. 236.60 after 10 years.

[B][U]Note [/U][/B]:
Buy National Savings Certificates (NSCs) every month for Five years – Re-invest on maturity and relax - On retirement it will fetch you monthly pension as the NSC matures[/QUOTE]

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