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National Savings Certificate(NSC) is a popular tax saving debt instrument. NSCs are issued by the Government of India. Eligibility: Any individual can purchase an NSC, singly or jointly. Investment Limits: The minimum amount is Rs. 100. There is no maximum limit. NSCs are available in denominations of Rs. 100, 500, 1000, 5000 and Rs. 10,000. The rate of Return: NSCs come with a 7.6% rate of return, compounded yearly. The government revises this rate very quarter. Time Period: NSCs have a maturity of 6 years. Withdrawal: There are 2 maturity periods, 1 for 5 years and then for 10 years. No premature withdrawal is permitted in NSC. NSC states that there is a possibility of withdrawal only on special cases which are mentioned as below.
- On death of holder or any holders in case of joint holding;
- on forfeiture pledge by Gazetted Govt. Officer
- When ordered by court of law.