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National Savings Certificate-VIII Issue

Introductory:

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.
  • A single holder type certificate can be purchased by an adult for himself or on behalf of a minor.
  • Joint 'A' Type certificate may be issued to two adults payable to both the holders jointly or to the survivor.
  • Joint 'B' Type certificate may be issued to two adults payable to either of the survivor.
  • Rate of interest is notified by the government from time to time on quarterly basis and is calculated on half yearly compounded basis.
  • Current Rate of Interest Payable and maturity value.
  • Loan facility available by pledging with the banks.
  • The deposits as well as interest accruing annually but deemed to have been reinvested qualify for deduction u/s 80-C of I.T. Act.
  • Interest accrual on investment of `100/- and in proportion for other denominations, on yearly basis for income tax purpose.

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National Savings Institute, Ministry of Finance (DEA) Govt. of India First Floor,ICCW Building.4,Deen Dayal Upadhayaya Marg,New Delhi-110002.
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