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Who can purchase :
An adult in his own name or on behalf of a minor,
A minor,
A trust,
Two adults jointly,
Hindu Undivided Family.
Where available:
Available for purchase/issue at all Post Offices in India.
Minimum Purchase Value:
The minimum amount of investment under NSC is Rs 100/-
Maturity:
Period of maturity of a certificate is six Years.
Nomination / Transferability:
Nomination facility is available
Certificates can be transferred from one post office to any other post office.
Transfer from one person to another person permissible in certainconditions.
Denomination / Deposit limits :
Certificates are available in denominations (face value) of Rs. 100, Rs.500, Rs. 1000, Rs. 5000 & Rs. 10,000.
There is no maximum limit for purchase of the certificates.Interest/maturity value :
Interest is available on this scheme @ 8%, compounded half-yearly
With effect from 1st March, 2003, Maturity value a certificate of Rs. 100denomination is Rs. 160.10.
Maturity value of a certificate of any other denomination shall be atproportionate rate.
Interest accrued on the certificates every year is liable to income tax but deemed to have been reinvested.
Premature encashment :
Premature encashment of the certificate is not permissible except at adiscount in the case of death of the holder(s), forfeiture by a pledgee andwhen ordered by a court of law.
Place of Encashment/discharge on maturity :
Can be encashed/discharged at the post office where it is registered or any other postoffice.
Income Tax relief :
Income Tax rebate is available on the amount invested and interest accruing everyyear under Section 80C of Income tax Act, as amended from time to time. [under Sec 80C]
Income tax relief is also available on the interest earned as per limits fixed vied section80C of Income Tax, as amended from time to time
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