Salient Features:
NSC VIII Issue (5 years) – Interest rate of 8.6% per annum w.e.f. 01.04.2012
NSC IX Issue (10 years) - Interest rate of 8.9% per annum w.e.f. 01.04.2012
Minimum investment Rs. 100/-. No maximum limit for investment.
No tax deduction at source.
Investment up to Rs 1,00,000/- per annum qualifies for Income Tax Rebate under NSC - section 80C of IT Act.
Certificates can be kept as collateral security to get loan from banks.
Trust and HUF cannot invest.
A single holder type certificate can be purchased by an adult for himself or on behalf of a minor or to a minor.
The interest accruing annually but deemed to be reinvested will also qualify for deduction under NSC - section 80C of IT Act.
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