Post Office Scheme: know how much you get if you Invest Rs 10 lakhs in 5 years?
One of the Post Office’s most popular programs is the National Savings Certificate, which offers investors quick and significant returns. The fact that there is no maximum investment limit in this scheme makes it special. It can also deliver consumers with significant earnings and is impervious to market risk.
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The National Savings Certificate Scheme: What Is It?
The National Savings Certificate is one of the most well-known post office programs (NSC). Under this plan, an investor can purchase a certificate worth the investment from the post office. This is a modest effort to cut mail costs. You can invest in it based on your needs. For this program, a minimum investment of Rs 1,000 is required.
The maximum investment is unrestricted at the same time.
Understand the scheme’s interest and investment terms:
The Post Office offers customers a 6.8% interest rate on their National Savings Certificates. Keep in mind that the promised interest is based on compounding. You may put money into this plan for up to five years. Keep in mind that a person who invests Rs 1,000 in this scheme will receive a return of Rs 1,340 after 5 years. Investments in the scheme should only be made in multiples of Rs. 100.
Check out a few distinctive aspects of the NSC system:
- You can open a single or joint account in the NSC plan.
- Two or three people can open a joint account at once.
- A 10-year-old child’s account is under parental supervision until the child turns 18 years old.
- By investing in this program, you are eligible for a Section 80C tax rebate of Rs. 1.5 lakh.
Learn how much the customers will receive in return:
An investor who invests Rs. 10 lakh in this scheme will receive a return of Rs. 13.40 lakh after five years of maturity. By using this scheme, you will significantly earn Rs 3.40 lakh in interest in just 5 years.