InvestorQ : What is the National Savings Certificate Scheme 2019?
sanjana Tulsiani made post

What is the National Savings Certificate Scheme 2019?

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Archita Jajjoo answered.
12 months ago
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The government has recently notified National Savings Certificates Scheme, 2019. It has notified three types of accounts under the scheme:

 a) Single Holder Type Account: This account can be opened by an adult for himself, or on behalf of a minor or a person of unsound mind of whom the person is the guardian. A minor who has attained the age of 10 years can open this account.
 (b) Joint A- Type Account: This account can be opened jointly in the names of up to three adults payable to all the holders jointly.
(c) Joint B-Type Account: This account can be opened jointly in the name of up to three adults payable to any of the account holders or to the survivor or survivors.

As a subscriber, you can deposit a minimum of Rs 1000 and there is no limit on the maximum amount that can be deposited. Also, there is no limit on the number of NSC accounts an individual can open.

The current interest rate offered on NSC deposits is 7.9 percent, compounded annually. The deposit matures on completion of five years from the date of deposit. The NSC account can be pledged or transferred as security.
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