National Savings Certificate

• Can be invested by an individual (above 18 years) or two individuals or a guardian on behalf of a minor.
• Certificates can be in the denomination of Rs. 100/-, Rs. 500/-, Rs. 1,000/-, Rs. 10,000/-
• Can be withdrawn on maturity (after 6 years) or prematurely on the death of the holder or any of the holders.
• Nomination is available.
• Investment eligible for rebate U/S 80C of the Income Tax Act.
• Annual interest earned is deemed to be reinvested and qualifies for tax rebate for first 5 years under Section 80C of the Income Tax Act.
• Deposits are exempt from Wealth Tax.