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The National Savings Certificate is a fixed income investment scheme that you can open with any post office. A Government of India initiative, it is a savings bond that encourages subscribers (mainly small to mid-income investors) to invest while saving on income tax.
Kisan Vikas Patra is a certificate scheme from the Indian post office. It doubles a one-time investment in a period of approximately 9 years & 10 months (118 months).
You can avail loan on your investment for any business/personal purpose, but not for speculative ones.
Charges and interest rates on loan keeps varies time to time, Bank may charge processing fees against the loan grant.
Amount of loan depends on the bank rules, from where you are going to apply for loan. Normally it depends on the number of years the NSC certificate is.
Loan to be liquidated within the tenure of the instruments or earlier.
Invested amount doubles on maturity after 115 Months i.e. Nine Years and seven months.
Certificates are available in denominations (face value) of Rs.1,000/-, Rs.5,000/-, Rs.10,000/- & Rs.50,000/-.
Minimum limit Rs.1,000/- & No maximum limit for purchase of the certificates.
No income tax benefit is available under the scheme. However the deposits are exempt from Tax Deduction at Source (TDS) at the time of withdrawal.
Certificate can be encashed after 2 & 1/2 years from the date of issue.
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