NSC (National Savings Certificate) Finacle Menus & All details : NSC in Post Office
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| Scheme | Interest payable, Rates, Periodicity etc. | Minimum Amount for opening of account and maximum balance that can be retained |
|---|---|---|
| National Savings Certificates (NSC) 5 Years National Savings Certificate (VIII Issue) | 7.7 % compounded annually but payable at maturity.From 01.01.2024, interest rates are as follows:- | Minimum of Rs. 1000/- and in multiples of Rs. 100/- No Maximum Limit |
| Salient features | ||
| (a) Who can open :- (i) a single adult (ii) Joint Account (up to 3 adults) (iii) a guardian on behalf of minor or on behalf of person of unsound mind (iv) a minor above 10 years in his own name. (b) Deposit:- (i) Minimum Rs. 1000 and in multiple of Rs. 100 , no maximum limit. (ii) Any number of accounts can be opened under the scheme. (iii) Deposits qualify for deduction under section 80C of Income Tax Act. (c) Maturity:- -> The deposit shall mature on completion of five years from the date of the deposit.(d) Pledging of account:- (i) NSC may be pledged or transferred as security, by submitting prescribed application form at concerned Post Office supported with acceptance letter from the pledgee. (ii) Transfer/pledging can be made to the following authorities.-> The President of India/Governor of the State.-> RBI/Scheduled Bank/Co-operative Society/Co-operative Bank.-> Corporation (public/private)/Govt. Company/Local Authority.-> Housing finance company.(e) Premature closure:–> NSC may not be prematurely closed before 5 years except the following conditions : -(i) On the death of a single account, or any or all the account holders in a joint account (ii) On forfeiture by a pledgee being a Gazetted officer. (iii) On order by court. (f) Transfer of account from one person to another person.:–> NSC may be transferred from one person to another person on the following conditions only.(i) On the death of account holder to nominee/legal heirs. (ii) On the death of account holder to joint holder(s). (ii) On order by the court. (iii) On pledging of account to the specified authority. | ||
NSC/KVP Account Menus
- CSCOAAC/NSCAO: Open an NSC account.
- CSCOAACV/NSCAOVF: Verify the account opening.
- HDRP: Print NSC.
- CSCOAACM/NSCAMBV: Modify an NSC account before verification.
- CSCACM/NSCAM: Modify the account after verification.
- CSCCAAC/NSCAC: Close an account and verify by the supervisor.
- HPR: View the report.
- CSCACM/NSCAM: Modify a KVP account.
- CSCCAAC/NSCAC: Close a KVP account prematurely or on maturity.
- HCCA: Transfer a KVP account from one customer to another.
- HACLITD: Inquire about the balance in a KVP account.
