Post Office: In this scheme of Post Office, earning of 5 lakh rupees is assured, you will get benefit in just five years..

Every person wants some part of their earnings to be invested in a safe place where their money is not only safe but also gets good returns. In such a situation, if you are looking for an option that gives good interest along with a government guarantee, then the National Savings Certificate (NSC) scheme of the post office can be a great option for you.

NSC, i.e., National Savings Certificate, is a small savings scheme of the post office. The most special thing about this scheme is that the interest received in it is compounded every year. Currently, 7.7% annual interest is being given on this scheme, which proves to be very beneficial according to compounding.

How to earn 5 lakh rupees in 5 years?

Now the question arises, how can 5 lakh rupees be earned in five years in this scheme? So, the simple math is that if you invest 11 lakh rupees at once, then after 5 years, you will get Rs 15,93,937 with compounding interest. This means that you will get an interest of Rs 4,93,937. That is, you can earn a profit of about Rs 5 lakh in just 5 years, that too without any risk.

You can start investing with a small amount, too.
If you do not have a large amount, then there is no need to worry; you can start with a small amount and gradually increase the investment. In this, an account can also be opened in the name of children, which their parents operate. In NSC, you can open an account with a minimum of Rs 1,000 and invest as much money as you want; there is no maximum limit. This scheme is for 5 years; that is, you have to keep the money for at least 5 years, only then will you get the full benefit.

You will also get a tax exemption.
Another big advantage of this scheme is that by investing in it, you also get a tax exemption under Section 80C of the Income Tax. You can save tax on investment of up to Rs 1.5 lakh in a financial year.

Disclaimer: This content has been sourced and edited from TV9. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.