->Citation bot: Alter: template type. Add: newspaper, authors 1-1. | Use this bot. Report bugs. | Suggested by Eastmain | Category:Postal savings system | #UCB_Category 30/40

2021-08-12T15:41:56Z

Alter: template type. Add: newspaper, authors 1-1. | Use this bot. Report bugs. | Suggested by Eastmain | Category:Postal savings system | #UCB_Category 30/40

New page

{{Use Indian English|date=June 2019}}
{{Use dmy dates|date=June 2019}}
[[File:India 1953 50R Post Office National Savings Certificate front and back.jpg|thumbnail|right|Both sides of 1953 50R Post Office National Savings Certificate.]]
'''National Savings Certificates''', popularly known as ''NSC'', is an Indian Government [[savings bond]], primarily used for small savings and [[Income tax in India|income tax]] saving investments in [[India]]. It is part of the [[postal savings system]] of [[India Post]].

These can be purchased from any Post Office in [[India]] by an adult (either in his/her own name or on behalf of a minor), a minor, a trust, and two adults jointly. These are issued for five and ten year maturity and can be pledged to banks as collateral for availing loans. The holder gets the tax benefit under Section 80C of [[Income Tax Act, 1961]].<ref>{{cite web|url=http://nsiindia.gov.in/uniquepages/singlepage.asp?Id_Pk=105|title=National Savings Institute|year=2005|publisher=[[National Savings Institute]]|accessdate=31 March 2015|archiveurl=https://web.archive.org/web/20131219005704/http://nsiindia.gov.in/uniquepages/singlepage.asp?Id_Pk=105|archivedate=19 December 2013}}</ref><ref>{{cite news |title=All you wanted to know about National Savings Certificates |url=http://www.moneycontrol.com/news/investing/all-you-wanted-to-know-about-national-savings-certificates_780184.html |publisher=Money Control |date=9 November 2012 |accessdate=17 March 2013}}</ref><ref>{{cite news |title=Scrap NSC, Kisan Vikas Patra: RBI panel|url=http://articles.timesofindia.indiatimes.com/2004-07-23/india/27161743_1_small-savings-savings-schemes-rbi-committee |archive-url=https://web.archive.org/web/20131126200550/http://articles.timesofindia.indiatimes.com/2004-07-23/india/27161743_1_small-savings-savings-schemes-rbi-committee |url-status=dead |archive-date=26 November 2013 |date=23 July 2004 |work=[[The Times of India]]|accessdate=17 March 2013}}</ref>

Other similar government savings schemes in India include: [[Public Provident Fund (India)|
Public Provident Fund]] (PPF), Post Office Fixed Deposit, Post Office Recurring Deposit, etc.<ref>{{cite news |title=Interest on savings schemes cut |url=http://www.hindu.com/2000/01/15/stories/01150007.htm |archive-url=https://web.archive.org/web/20140714164621/http://www.hindu.com/2000/01/15/stories/01150007.htm |url-status=dead |archive-date=14 July 2014 |date=15 January 2000 |newspaper=[[The Hindu]] |accessdate=16 March 2013}}</ref> The certificates were heavily promoted by the Indian government in the 1950s after India's independence, to collect funds for nation-building

'''Discontinuation of Physical Certificate'''

The existing system of physical pre-printed certificates for NSC shall stand discontinued w.e.f. 1.4.2016 and shall be replaced by ‘National Savings Certificate' Certificate on electronic mode (e-mode). Till the CBS system transits to that e-mode, banks and post offices may choose to issue a physical certificate recorded on a passbook.

==Further reading==
*{{cite web|url=http://www.indiapost.gov.in/DOP/Pdf/Circulars/113-01-2011-SB_26-03-2013.pdf|title=Revision in Interest Rates of Small Savings Scemes w.e.f. 1st April 2013|date=26 March 2013|publisher=Department of Posts, [[Ministry of Communications and Information Technology (India)|Ministry of Communications & IT]]|accessdate=31 March 2015|location=New Delhi|archiveurl=https://web.archive.org/web/20150331080608/http://www.indiapost.gov.in/DOP/Pdf/Circulars/113-01-2011-SB_26-03-2013.pdf|archivedate=31 March 2015}}
*{{cite news|url=http://economictimes.indiatimes.com/wealth/personal-finance-news/10-year-national-savings-certificate-discontinued/articleshow/50485103.cms|title=10-year National Savings Certificate discontinued|newspaper=The Economic Times|accessdate=8 January 2016|last1=Mukerji|first1=Chandralekha}}

==References==
{{reflist}}

==External links==
{{commons category|National Savings in India}}
* [http://www.indiapost.gov.in/NSC.aspx National Savings Certificates (NSC)] at [[India Post]]
* [http://www.indiapost.gov.in/NSC.aspx National Savings Certificates (NSC)]
* [http://dailytools.in/GovernmentSavingSchemes/NationalSavingsCertificates Dailytool's National Savings Certificate Calculator]
* [https://dea.gov.in/sites/default/files/InterestRate_SmallSaving_26032012%20%281%29.pdf Revision of interest rates for small savings schemes 26 March 2012]
* [https://dea.gov.in/sites/default/files/InterestRate_SmallSaving_31032015_0.pdf Revision of interest rates for small savings schemes 31 March 2015]
* [https://web.archive.org/web/20180518141104/http://www.chennaipost.gov.in/Pdf/pnote87.pdf AVAIL PRE-REVISED INTEREST RATES OF POST OFFICE SAVINGS SCHEMES 22 Mar 2016]
* [https://web.archive.org/web/20180518155046/http://www.chennaipost.gov.in/Pdf/SB_Order_1.pdf Revision in interest rates of small savings schemes 30 March 2016]
* [https://dea.gov.in/sites/default/files/Revision_IR_SSShemes29092016.pdf Revision of interest rates for small savings schemes 29 September 2016]
* [https://dea.gov.in/sites/default/files/Interest%20rates%20for%20second%20quartaer%20of%20FY%2017-18.pdf Revision of interest rates for small savings schemes 30 June 2017]
* [https://dea.gov.in/sites/default/files/interest%20rate%2001.10.2017.pdf Revision of interest rates for small savings schemes 29 September 2017]
* [https://dea.gov.in/sites/default/files/Inttrateswef_0.pdf Revision of interest rates for small savings schemes 27 December 2017]
* [https://dea.gov.in/sites/default/files/Auto-Color0806_0.pdf Revision of interest rates for small savings schemes 28 March 2018]

[[Category:Tax-advantaged savings plans in India]]
[[Category:Postal system of India]]
[[Category:Government bonds issued by India]]
[[Category:Postal savings system]]

National Savings Certificates (India) - Revision history

->Citation bot: Alter: template type. Add: newspaper, authors 1-1. | Use this bot. Report bugs. | Suggested by Eastmain | Category:Postal savings system | #UCB_Category 30/40