National Savings Certificate (NSC)

by Gopal Gidwani on March 2, 2010 · 76 comments

in Fixed Income Securities,Uncategorized

National Savings Certificates (NSC)

Introduction
This article explores the features of National Savings Certificates (NSC). NSCs as an investment instrument are good for people who want to invest a lumpsum amount for a fixed period of time for a specific financial goal. This goal can be accumulating funds for children’s education or children’s marriage. NSC is a fixed interest bearing investment instrument.

Opening of Account
Investment in NSC can be made through the Department of Post. National Savings Certificates can be purchased from any post office throughout India. NSCs are normally issued in the form of physical paper certificates. From some post offices NSC can also be purchased in demat form also.

Minimum and Maximum Investment Amount
The minimum amount required to be invested in NSC is Rs 100. NSC Certificates can be bought in various denominations of Rs 100, Rs 500, Rs 1000, Rs 5000, Rs 10,000 and other denominations as specified by the Government from time to time.
There is no upper maximum limit on the amount that can be invested in NSC.

Safety
NSC Certificates are issued by the Department of Post, which has the backing of the Government of India. Since the investment in NSC comes with sovereign guarantee, it is one of the safest instruments to invest in. The investor can be assured that his principal and interest will be repaid on maturity. So investment in NSC is virtually risk free.

Interest Rate
NSC’s pay 8% interest compounded half yearly. The effective annual interest rate comes to 8.16%. So an investment of Rs 100 made in NSC amounts to Rs 160.10 at maturity at the rate of 8%.
The interest is calculated every 6 months and added to the principal amount. The entire amount is paid on maturity after 6 years.
If Rs 1000 is invested in a National Savings Certificate, interest is calculated in the following way

Year

Interest

1

Rs 81.60

2

Rs 88.30

3

Rs 95.50

4

Rs 103.30

5

Rs 111.70

6

Rs 120.80

Total

Rs 601.2

Tax Treatment
Investment made in NSC qualifies for deduction from taxable income under Section 80C of the Income Tax Account. Although there is no upper investment limit on NSC, only investment of upto Rs 1,00,000 in a financial year qualifies for tax deduction under Section 80C.
The annual interest is deemed as fresh investment which is re-invested back in NSC and hence qualifies for tax deduction under Section 80C. The interest for the first 5 years is eligible for tax deduction. On maturity the interest is taxable as per the tax rates and the income slab of the investor.
There is no Tax Deducted at Source (TDS) on NSC.
Investment in NSC is exempt from wealth tax.

Tenure
The tenure of NSC investment is for 6 years.
The certificates can be encashed prematurely but there is an interest penalty for such premature encashments.

Nomination
NSC comes with nomination facility. In case of untimely death, nomination makes sure that the money is passed on to the nominee.

Transfer of Certificates
National Savings Certificates can be transferred from one Post Office to another Post Office.
National Savings Certificates can also be transferred from one person to another person.
In case the certificate is stolen, destroyed or mutilated then a duplicate certificate can be issued.

Other Features
NSC can also be bought in joint names.
NSC can also be bought in the name of a minor
Companies, trusts, Societies etc cannot buy NSCs.
Non Resident Indians (NRI) cannot buy NSCs.
On maturity if the certificates are not redeemed, then interest at the rate of normal Post Office Savings Account is paid for a maximum period of 2 years.
On maturity the person can reinvest the maturity proceeds again.
National Savings Certificates can be pledged with Banks and other Financial Institutions for loans against these certificates.

Comparison between Public Provident Fund and National Saving Certificate

Public Provident Fund

National Savings Certificate

The tenure of PPF is 15 Years. On maturity the account can be extended for a block of 5 years at a time.

The tenure of NSC is 6 years. On maturity the option of renewal / reinvestment is available.

A person has to deposit a minimum of Rs 500 every year to keep the account active.

A person can start with a minimum deposit of Rs 100 without having to make yearly contributions.

The maximum investment that can be made in a financial year is Rs 70,000

There is no limit on the maximum investment that can be made in NSC.

The interest rate paid is 8% with yearly compounding.

The interest rate paid is 8% with half yearly compounding. The effective annual rate comes to 8.16%.

Annual investments qualify for income tax deduction under Section 80C. The interest paid on maturity is tax free in the hands of the investor. PPF comes under Exempt-Exempt-Exempt (EEE) category.

At the time of investment the amount qualifies for income tax deduction under Section 80C. The interest paid on maturity is taxable. NSC comes under Exempt-Exempt-Tax (EET) category.

Partial withdrawals can be made from PPF from the 7th year onwards.

There is no facility for partial withdrawals from NSC.

In case of PPF joint accounts are not allowed.

In case of NSC the certificates can be purchased in joint names.

It is a good long term investment product which can be used for wealth creation or for retirement planning.

It is a good medium term investment product which can be used for specific goals like accumulating funds for children’s education and children’s marriage.

Conclusion
NSC is one of the oldest and traditional investment product used by people for tax savings and at the same time earn good returns with lowest risk. This investment product can be used for making lump sum investments for specific goals like accumulating funds for children’s education and children’s marriage.

 
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{ 76 comments… read them below or add one }

Ajay August 4, 2010 at 9:04 am

A new rule started by PO. You need to give them 2 photographs, address proof and PAN card copy while purchasing NSC.

Reply

Saurav Sinha November 10, 2010 at 7:19 pm

What will be the net amount I will receive if I invest Rs. 25000 for 6 years?

Reply

Gopal Gidwani November 11, 2010 at 7:06 am

Hi Saurav,

Every Rs. 100 that you invest in NSC will be worth Rs. 160.10 at the end of 6 years. So going by that calculation Rs 25000 at the end of 6 years will be worth Rs. 40,025.

@Ajay: Thanks for the link. Your calculation is perfect.

Reply

Ajay November 11, 2010 at 4:00 am

@Saurav
Rs. 40025

You can read more about this at http://www.indiapost.gov.in/Netscape/Banking.html

Reply

Rahul Tyagi November 23, 2010 at 4:19 pm

For NSC…
The interest paid on maturity is taxable.
Q. At the time of Maturity…How much percent (%) tax on interest we need to pay in NSC ???

Reply

Gopal Gidwani November 24, 2010 at 5:09 am

Hello Rahul,
The interest earned by you will be added to your annual income. Then based on your income and the tax slab that you fall in, you will be taxed accordingly.

So in short the interest will be taxed based on the tax slab that you fall in.

Reply

Yusuf December 9, 2010 at 5:12 am

hi,
I have purchased NSC in the mid of year i,e, 26th nov. Will i get interest for the full year or prportionately

Reply

Gopal Gidwani December 9, 2010 at 9:23 am

Hi Rashida,
The interest on NSC is calculated semi annually and added to the principal. And the entire amount is paid out on maturity.

The benefit in case of NSC is that the annual interest that you earn is not paid out and is reinvested and is considered as fresh investment and you can claim income tax benefit on this amount under Section 80C of the Income Tax Act.

Reply

aruna December 20, 2010 at 10:37 am

i invest Rs50,000 in NSC last year 2009.It is used for 2009 tax deduction.my doubt is it is use this year for tax benfit .tell me 6 years is it tax benfit or not? plz tell me

Reply

Gopal Gidwani December 26, 2010 at 8:27 am

Hello Aruna,

I case of money deposited in NSC you can claim the tax benefit for the principal amount (investment) only once in the year that you made the investment and not for all 6 years. However on the interest that you earn every year, that is treated as fresh investment and you can claim the tax benefit for the interest amount under Section 80C. This can be done for the interest on the first 5 years and not on the interest for the 6th Year as you will be get back the entire money with interest in the 6th year.

Reply

Divya January 6, 2011 at 1:50 pm

Hi,

If i invest Rs 10,000 how much would i get as returns after 6 years?

Reply

Gopal Gidwani February 7, 2011 at 3:14 pm

Rs 10,000 will become Rs 16,010 after 6 years

Reply

john January 23, 2011 at 1:23 pm

hi , if i have purhased nsc towards the end of the year say Jan 17,2011. Can i declare the interest as earned for the entire year 2010-2011, or do i need to calculate for the proportionate period 2.5 months approx

regards
john

Reply

Gopal Gidwani February 7, 2011 at 2:56 pm

Hi John,
If you invest in NSC in January, then you will earn interest only for 2.5 months and not the entire year. So you will have to declare only the interest earned for 2.5 months and accordingly avail tax benefits

Reply

Madhura More November 29, 2011 at 8:51 am

Hi,

I fail to understand how to purchase NSC certificate.I purchase NSC then i need to invest money monthly like recurring scheme or at once i take certificate.
if i purchase NSC of Rs.500 how much i will get after maturity with interest.
Im willing to buy NSC.
pls help me here

Thanks.

Reply

Gopal Gidwani December 2, 2011 at 6:49 pm

Hello Madhura,
In case of NSC under one certificate there is one time investment only. There is no recurring investment in NSC like monthly recurring deposits. Everytime you want to make additional investment, you will have to buy a new certificate. Rs 500 invested in NSC will become Rs 800.5 by 6 years @ 8.16%

Reply

Shital November 29, 2011 at 8:59 am

Hi,

How many times can i purchase NSC certificate.

If i plan to but NSC purchase after a gap on 1 month will Post Office will allow me to buy.
pls help here

Thanks.

Reply

Gopal Gidwani December 2, 2011 at 6:45 pm

Hello Shital
There is no limitation on the number of times that you can buy NSC. Post Office will not stop you from buying multiple NSC Certificates

Reply

Ashok December 3, 2011 at 9:19 am

HI,

Pls help me here…If I want Rs.50,000 after the maturity of 6yrs NSC ..so how much amount of money i should invest in NSC certified…

& is it guarntee I will get my complete amount after maturity…

Thanks in advance.

Reply

Gopal Gidwani December 6, 2011 at 6:31 am

Hello Mr. Ashok,
Previously the interest rate on NSC was fixed at 8.16%. But from 1st December 2011, the Government has introduced some changes to small saving schemes. In this it has reduced the tenure of NSC’s to 5 years from 6 years. Also the interest rate for this year has been fixed at 8.4%. But going forward the interest rate will be market linked. The interest rate will be based on the prevailing interest rate on Government Securities (G-Secs). The interest rate will be declared every year on the 1st of April. So the interest rates will keeping changing every year based on the interest rates for Government Securities.

The Government has also said that it will introduce a new NSC with a maturity of 10 years along with the existing NSC with a maturity of 5 years.

Reply

Mrs Varsha December 6, 2011 at 7:28 am

Hi,

Need your suggestion here, if i want Rs.40,000 after the maturity of NSC how much money should i invest.

Reply

Gopal Gidwani December 6, 2011 at 10:08 am

Hello Mrs. Varsha,

Since the interest rate payable will change every year, no one will be able to tell you how much you should invest now so that you get Rs 40,000 on maturity.

Recently from 1st December 2011, the Government has made changes to Small Savings Schemes. The interest rate payable on NSC, PPF, SCSS, Postal FDs will now be linked to the interest rate on Government Securities (G-Secs). The interest rate will be announced by the Government on the 1st of April every year.

Reply

John December 6, 2011 at 11:07 pm

I have lost my NSC certificate on the 07/02/2011. However I still have not lodged an FIR as I visited a couple of Police Stations claiming they were not their jurisdiction and the way they harrass common man is amazing. Now this is about to be a year. Please advice what I can do to recover my duplicaate certificate. I am under the belief that no one else can get it transferred under their title as they would require my signature to do that. Please tell me that my belief is correct. I am also hoping that it is not too late to lodge an FIR?

Reply

Jatin December 24, 2011 at 12:29 pm

If I take a NSC from One Place, Say Bhuj, Gujarat, then CAn I redeem it back after 6 years from different Location, Say Ahmedabad, Gujarat?

Reply

Ajay December 26, 2011 at 6:57 am

Jatin – Yes. You can redeem it in another PO. They take about a month for the transfer. Check with you nearest PO. Pls note that they usually say no if the POs are in the same city though.

Reply

Prajith January 24, 2012 at 6:58 pm

Dear sir,

I have aquired two NSC policies from Ktch district Gujarat.on march 2006.
Now these two policies is going to be matured.
What is the procedure for reclaim the NSC on maturity?
Now Iam situated at Pune & it is difficult to return to kutch for claim.
Please suggest.

Reply

Gopal Gidwani January 28, 2012 at 11:56 am

Hello Prajith,

You can visit a post office here in Pune. If post office where you bought the certificate and the post office where you go for redemption are connected to a network and the details of your certificate has there on the network then redemption from here should be possible.

Reply

Sandeep Nakul Patil February 7, 2012 at 3:46 pm

Dear Sir,
I have purchased NSC of amount Rs. 50,000/- in March 2011. But due to some financial need i would like to encash these certificate. Please help me is it possible to withdraw prematurly these amount

Reply

Gopal Gidwani February 7, 2012 at 6:30 pm

Hello Mr. Sandeep,
If you need money against your NSC Certificate, then approach a bank, they will give you a loan against your NSC Certificate. Some banks may give loan upto 80% of the NSC Certificate value.
Premature redemption will not be possible, until done in the last year and that too it will be at a loss of interest.

Reply

sdwakalkar February 23, 2012 at 1:35 pm

Interest rate (per thousand) calculation statement for NSC for income tax calculation during year 2011-12.

Reply

Amey March 6, 2012 at 7:27 am

Hi.

What can U advice if a person earning salary of Rs.10000 every month and only if he can saved Rs.1000 or 500 @ the eod of month should he should invest his money in NSC or not.

Thanks in advance.

Reply

Gopal Gidwani March 6, 2012 at 10:07 am

Hello Mr. Amey,

If you have appetite for risk then I will suggest you go for a SIP of Rs 500 to Rs 1000 in a diversified equity fund. If you don’t have appetite for risk then you can go for NSC

Reply

sanjay kumar January 6, 2017 at 1:01 pm

I purchased nsc Rs 20000 on 13/12/2010 of six years on mature whatever amount I would get. Please inform me

Reply

james March 11, 2012 at 11:00 am

hi, i have purchased NSC worth 90000..but due to some financial needs, i want money against those NSC’s. I read a comment that i have to go to the bank..please can you guide me which bank can give me loan against NSC for 90000 ? i have asked HDFC, ICICI, KOTAK but they provide loan only if the amount is more than 200000.

Reply

Gopal Gidwani March 11, 2012 at 11:40 am

Hello James,
Try approaching a PSU Bank like State Bank of India or Punjab National Bank or Bank of Baroda

Reply

jaydip March 25, 2012 at 3:55 pm

hello sir,,
i heard that interest rate of NSC certificate will be increase in April 2012 is that true???
n also term of NSC certificate will be 5 years ???
if i invest 1,00,000 rupees in NSC …..how much i get after 5 year???

Reply

Gopal Gidwani March 27, 2012 at 6:33 pm

Hello Jaydip,
Effective 1st April 2012, the interest rate on 5 Year NSC will be 8.6% and for 10 year NSC will be 8.9%. NSC will be in tenures of 5 years and 10 years. No new 6 year NSCs will be issued.

Reply

jaydip March 30, 2012 at 10:03 am

if i invest 1,00,000 rupees in NSC …..how much i get after 5 year???
is there any tax is cut from my maturity money???

Reply

Gopal Gidwani April 1, 2012 at 7:18 am

Hello Jaydip,
The interest rates on NSC are linked to 10 Year Government Bonds and the rate of interest is announced few days before 1st of April every year. So since the rates change every year it will not be possible for me to tell you the exact maturity amount after 5 years.

With regards to your query on taxation: On maturity the interest is taxable as per the tax rates and the income slab of the investor.

Reply

Radha March 29, 2012 at 7:18 am

Hi,

I never ever purchase NSC certificate need guidance,NSC is currently for how many years andwhat is the rate of %,What document require to purchase NSC (Black or color Photo)

Thanks in advance.

Reply

Gopal Gidwani March 29, 2012 at 6:28 pm

Currently NSC is being offered for 5 years (8.6%) and 10 years (8.9%). Documents required will be photographs, ID proof and address proof

Reply

Jatin April 10, 2012 at 8:45 am

Hi,

My query is that I had invested Rs.10,000 in NSC in March 2006 & claimed it as deduction U/s 80 C. Interest Accrued on NSC up to 5 years was offered for tax on year to year basis.Now in March 2012 I have recd.maturity amount of Rs.16,010/-.I just wanted to know whether principal amount of NSC Rs.10,000/- claimed as deduction U/s 80C in A.Y.2006-07 will be taxable under Income from Other Sources during A.Y.2012-13 or only the 6th year’s Interest will be taxable.

Reply

Gopal Gidwani April 11, 2012 at 6:41 am

Hello Jatin,
First regarding the principal part it is not taxable when you receive it as part of the maturity proceeds.

Now with regards to interest, there are two aspects to it:
a) If the interest accrued for the 1st 5 years has been declared every year in those 5 years under the head “Income from Other Sources” and the same has been claimed under Section 80C Deduction, then only the interest for the 6th year becomes taxable.

There is one important consideration for the above point to make the NSC interest for the 1st 5 years tax free. When you claim deduction under Section 80C for the NSC interest part, you need to make sure your other investments like fresh NSC investments, PPF, life insurance etc. are not already exhausting the entire quota of Rs 1,00,000 and the NSC interest amount can be accommodated in the Rs 1,00,000 quota along with the other Section 80C investments. Else if the Section 80C quota of Rs 1,00,000 is already getting exhausted by other investments like PPF, life insurance etc. without accommodating the NSC interest, then the NSC interest becomes taxable. So make sure you are making adjustments in your Section 80C investments to accommodate NSC interest within the Rs 1,00,000 quota.

b) If the interest accrued for the 1st 5 years has not been declared every year in those 5 years under the head “Income from Other Sources” and the same has not been claimed under Section 80C Deduction, then the entire interest for 6 years received on maturity becomes taxable under the head “Income from other Sources”.

I hope this clarifies your query. If not please write back!!!

Reply

Jatin April 12, 2012 at 4:18 am

Mr.Gidwani,

Thanks for the clarification.

Reply

shivani May 9, 2012 at 11:16 am

can tax benefit on nsc principal amont is for one year, or both principal and interest both are tax free till maturity.

Reply

Gopal Gidwani May 11, 2012 at 9:53 am

Hello Shivani
For the principal amount tax benefit can be availed only once, in the year of investment. For interest portion depends on how you show in your Income Tax Return (ITR) Form

Reply

pampi June 5, 2012 at 12:57 pm

how much loan i can get on the nsc of 25000rs?

Reply

Gopal Gidwani June 7, 2012 at 4:29 pm

Hello Pampi,
This will depend on the bank you approach for the loan and the number of years the NSC Certificate has completed

Reply

SHAHID July 27, 2012 at 8:14 pm

I visited the Guwahati Post Office,Meghdoot Bhavan on
26/07/2012 to purchase a national saving certificate of Rupees Ten
Thousand only in the name of my mother who is an housewife. I
submitted my mother’s PAN CARD as photo proof and our current
ELECTRICITY BILL which stands in her name as address proof along with
2 photos. But I was declined. I was said that PAN CARD is not a valid
photo proof and I needed to submit additional photo proof viz. driving
licence,passport,ration card etc. Also I was asked that I should get
the photo self attested.
Can you advise on the matter.

Reply

Gopal Gidwani July 29, 2012 at 1:21 pm

Hello Shahid,
PAN Card is issued by the Government and hence it is a valid photo id proof. If the concerned person is not accepting it, I suggest you get in touch with the Post Master of the Post Office

Reply

Sandeep Shetty August 16, 2012 at 11:12 am

Hello Sir,

I am from Navi mumbai, Maharashtra. I was been issued NSC by my previous employer . The same was issued from the post office at Anna Salai (Chennai) Tamil nadu. Now it has crossed the maturity date. So on 09.05.2012, I visited the local Post office i.e Navi mumbai to withdraw the amount. The local post office master told me that since the certificates were issued from a different state, it would be sent for verification to Chennai PO. So I was told to give a application letter, photo copy of certificates and photo copy of my PAN card. I had submitted whatever I was told to.

Now its been more than 3 Months and am still waiting for the verification. I visit to the local PO ie. Navi mumbai, every alternate day and I get the reply that they are awaiting feedback from the Chennai PO.

Is there any other way I can trace the status or what else should I do ??

Please suggest.

Thanks in advance.

Regards,
Sandeep

Reply

Gopal Gidwani August 20, 2012 at 12:00 pm

Hello Sandeep,
I don’t think you can trace the status online. It is sad that even after 3 months the application has not been processed. I suggest you take up the matter directly with the Chennai Post Office

Reply

shaikh saleem November 24, 2012 at 2:32 pm

Dear Sir,
If i plan to but NSC purchase for 10 years Rs 25000 what will total amount after 10 years please let me know.

Reply

Gopal Gidwani December 11, 2012 at 3:41 pm

Hello Saleem,
For the current financial year April 2012 – March 2013, the rate declared by the Government is 8.9% compounded half yearly. The value of Rs. 25,000 invested for 10 years at 8.9% compounded half yearly will be Rs. 59,718.50 on maturity.

Reply

Sameer December 23, 2012 at 6:41 pm

Dear Sir,
I would require your help in understanding the interest calculation and deduction for NSC investments. I was going through your responses and its regarding the response you gave to Mr. Jatin:-
b) If the interest accrued for the 1st 5 years has not been declared every year in those 5 years under the head “Income from Other Sources” and the same has not been claimed under Section 80C Deduction, then the entire interest for 6 years received on maturity becomes taxable under the head “Income from other Sources”.
Now my query is:
1. In the above condition, can I show the entire interest accrued in 80C deduction, apart from showing it under the head “Income from other Sources”.
2. I have purchased NSC of 30000 INR this month, so am I eligible for principal and interest (for 3 months) both, for deduction under 80C for current financial year.

Appreciate your response!

Reply

Gopal Gidwani January 12, 2013 at 8:09 pm

Hello Sameer,
1) According to me logically, whatever NSC interest amount is recognised in a particular financial year under the head “Income from other Sources” is part of the overall income for the financial year and hence it should be eligible for deduction under Section 80C as interest reinvestment (subject to 80C limit of Rs. 1,00,000).

2) According to me same logic applies for the 2nd question also. If you invest Rs. 30,000 in December in the current financial year, then the interest for 3 months will also form a part of the overall income for the current financial year. Now if you recognise this 3 months interest as income under the head “Income from other Sources” at the time of filing returns for the current financial year, then this interest amount also becomes eligible for deduction under Section 80C as reinvestment as the interest is part of the overall income of the current financial year. The principal of Rs. 30,000 will also be eligible for deduction under Section 80C of the financial year.

Reply

Raaj January 4, 2013 at 6:49 am

can you giveme the formula to calculate the maturity amount for the national savings certificate?

Reply

Gopal Gidwani January 4, 2013 at 5:34 pm

Hello Raaj,
I use the compounding function in a financial calculator to do the calculations.

If you invest Rs. 100 in a 5 year NSC it will grow to Rs. 152.35 (interest rate payable is 8.6%). If you invest in a 10 year NSC it will grow to Rs. 238.87 (interest rate payable is 8.90%).

These rates are applicable for NSCs bought in the Financial Year 1st April 2012 to 31st March 2013.

Reply

Anuradha January 8, 2013 at 7:09 am

HI,

My frnd suggested to me purchase NSC for long tern investment. So im planning to buy now of Rs.1000/- every month by default to just block my other expenses..is it a good idea…Pls suggest…..i Heard year criteria change now its period of 5 yrs instead of yrs is it true.

Reply

Gopal Gidwani January 12, 2013 at 7:35 pm

Hello Anuradha,
Saving regularly and investing is a good idea. Previously NSC tenure was 6 years. Now it is available in 2 variants: 5 years and 10 years

Reply

sumayya January 21, 2013 at 9:51 am

Hello,

I wish to purchase NSC however I do not have any address proof in Delhi. My passport and licence are all with my pune home address. I do have bank statements but they have my office address in Delhi.
How do I purchase NSC then with no local address proof.

Reply

Gopal Gidwani April 14, 2013 at 10:09 am

Hello Sumayya

You may ask your employer to give you a letter with your address details. That may help!

Reply

Rashmi January 31, 2013 at 11:43 am

What is the procedure for withdrawal of NSC on maturity?

Reply

Gopal Gidwani April 14, 2013 at 8:35 am

Hello Rashmi,
On maturity, you need to submit the certificate at the post office. You may be required to give identification documents, if asked for.

Reply

radhakrishnan April 17, 2013 at 9:30 am

Can i possible to receive my nsc matured amount at my nearist post office instead of nsc issuing post office.

Reply

Nikhil May 9, 2013 at 1:47 am

Hi,

I invested in NSC in Feb’2007, matured in Feb’2013, but as I am out of India, how can I claim the amount. I don’t have any plan to visit India till 1 year. Can I authorize someone like my brother to claim the money or can I authorize nominee (my mother) to claim the money, please suggest.
PS – I have the information that on unclaimed NSC, PO pays interest upto 2 years. But I would like to know if I can authorize someone to claim the money.

Reply

Tribhuwan July 11, 2013 at 10:59 am

I have the same question. Can I authorize somebody to redeem NSC on my behalf.
Also regarding the transfer of NSC from one PO to another, I got to know that it is very difficult to get NSC transferred after maturity. And generally request sent by one PO to another is not responded.

Please suggest.

Reply

Basant May 20, 2013 at 11:31 am

I PURCHASES NATIONAL SAVING CERTIFICATES?
FOLLOWING DETAILS HAVE BEEN WRITTEN ON NSC:
A.POST OFFICE OF ISSUE, JALGAON
B.DATE OF ISSUE, 12/11/2011
C.REGISTERATION NUMBER, 10960
D.NOMINATION REGISTERED- BLANK,
E.NUMBER WITH DATED. 10370 DT 12.11.2011,

CAN SOMEONE CONFIRM WHAT IS E- (NUMBER & DATE)????

Reply

ajay June 16, 2013 at 5:50 pm

Is it on the left hand side bottom corner? Then it should be the nominee registration number.

Reply

Kumar December 1, 2015 at 11:30 am

Sir,

Please let me know, can I renew the NSC after few days of gap from the date of maturity, with retrospective effect, if so, please explain.

Kind revert.

Kindly regards,
Kumar

Reply

Renu Singh February 11, 2016 at 9:32 am

Dear sir,

I have aquired three NSC policies from Ghaziabad kaushambi by pass rodad PAC branch 29th Jan 2010.
Now these three policies is going to be matured.
What is the procedure for reclaim the NSC on maturity?
Now I am situated at Thane & it is difficult to return to Ghaziabad for claim.
Please suggest.

Reply

Ritesh April 12, 2016 at 11:35 am

Hello sir

I have filled application for issued NSC to post office at 28/03/2016. But still i did not get physical copy of my certificate. Can you please tell me that how much time post office took to issue physical copy of NSC certificate. each time i went to post office they said me due to technical problem in software we are unable to give you certificate.

Reply

shankar Dstt May 7, 2016 at 10:16 am

I have purchased a NSC of Rs.500.00 on 02 march 2010. It matured on 02 march 2016. I deposited it to post office on 07 may 2016. The post office paid me only Rs.800.00. Is this a correct amount? Pl let me know the exect intrest due tp7me.
..

Reply

Saurabh Mehra May 16, 2016 at 2:53 pm

I have few NSCs in my wife’s name which she took before marriage.
So, scenario is, there are 10 NSCs in the name of Miss Neha XXXX and after marriage the name/bank accounts/PAN/Passport all documents have been changed to Mrs. Neha YYYY.
My doubt is when NSC matures then the cheque would be given in the name of Neha XXXX or can I get it changed using the Marriage certificate. How much hassle would that be?

Reply

Dr Ravi Bhushan Kansal December 27, 2016 at 12:38 pm

I purchased nsc for rs 1 lakh on 24.12.11.what will be the maturity amount?

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Mukur January 23, 2017 at 4:34 pm

Hello,

I have joint NSC with my wife. She is housewife. Can I claim the tax benefit for 100% amount? In this case, does she need to give any written undertaking for not claiming tax benefit?

Kindly help

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