||Things to Know
||A single holder type certificate can be purchased by an adult for himself/herself or on behalf of a minor or by a minor, according to India Post’s portal.
||The minimum amount required for opening an NSC account is Rs. 100 in multiples of Rs. 100. However, there is no upper limit on NSC investments.
||NSC offers a return of 8 per cent, which is compounded annually but payable at maturity. An NSC of Rs. 100 will offer Rs. 146.93 on maturity after five years, noted India Post.
||Income Tax benefit
||Deposits in the National Savings Certificate qualify for deduction under Section 80C of the Income Tax Act.
||Transfer of certificates
||At the time of transfer of certificates from one person to another, old certificates will not be discharged. Name of old holder shall be rounded and name of new holder shall be written on the old certificate.