Which is better NSC or NSS?
National Savings Scheme (NSS) National Savings Scheme (NSS) offers an assured return and tax rebates under Section 88 of the Income Tax Act, 1961. The rate of interest is 9 per cent per annum, compounded annually. NSS has a duration of four years as compared to NSC, which has a duration of six years.
What is the interest rate of NSC in post office?
6.8% per annum
National Savings Certificate (NSC) The NSC rate of interest is 6.8% per annum compounded half-yearly but payable at maturity. That means, your investment of Rs. 100,000 will yield you Rs. 1,38,949 after 5 years.
Which scheme gives highest rate of interest?
Comparison table
| Scheme | Duration | Rate of Interest* |
|---|---|---|
| NSC | 5 years | 6.8% p.a. |
| Post Office Monthly Income Scheme | 5 years | 6.6% |
| Senior Citizens Savings Scheme | 5 years | 7.4% p.a. |
| Kisan Vikas Patra | 124 months (10 years and 4 months) | 6.9% p.a. |
Is TDS deducted on NSC interest?
For National Savings Certificate, the income earned from interest is not eligible for Tax Deduction at Source (TDS). The interest that is earned from NSC that is invested again is eligible for a deduction of tax u/s 80C up to Rs. 1, 50, 000.
Which is best monthly saving scheme?
Best Saving Plans
- Recurring Deposits.
- Post Office Monthly Income Scheme (MIS)
- Public Provident Fund (PPF)
- KVP (Kisan Vikas Patra)
- Sukanya Samriddhi Yojana (SSY)
- Atal Pension Yojana.
- Employee Provident Fund (EPF)
- Pradhan Mantri Jan Dhan Yojana.
Which scheme is best for savings?
If you’re planning to invest your money, here are the best investment schemes to help you save for your future financial needs.
- Mutual funds.
- Fixed deposit (FD)
- Public provident fund (PPF)
- National saving certificate (NSC)
- Equity linked savings scheme (ELSS)
What is the definition of a national savings scheme?
What are National Savings Schemes? What are National Savings Schemes? Typically, national savings schemes are savings instruments launched or backed by the government and operated via authorised financial institutions and other entities.
Where can I open a National Savings Certificate?
National Savings Certificate It is a fixed income-generating investment scheme, whereby account can be opened at any post office both individually and jointly. This savings plan was launched to encourage small and mid-income groups to mobilise their savings through investments while encouraging tax saving.
What’s the minimum deposit for National Savings Certificate?
Minimum deposit ₹1000/- and thereafter in multiple of ₹100. No maximum deposit limit. A single holder type account may be opened by an adult for himself or on behalf of a minor. A single holder type account may also be opened by a minor on attaining the age of 10 years.
What is the limit of National Savings Certificate VIII?
National Savings Certificates VIII Issue is an excellent scheme wherein not only initial deposit but also the accrued interest for first 4 years enjoys the benefit of section 80-C of I.T. Act. Min. ` 100/- and no max. limit. Certificate shall be issued on Passbook or exclusive e-mode.