National saving scheme Post Office | NATIONAL SAVINGS CERTIFICATES
NATIONAL SAVINGS CERTIFICATES The National Savings Certificates (VIII Issue) Scheme is a scheme introduced by the Government of India under the Government Savings Promotion Act, 1873. The scheme provides individuals with an opportunity to invest in National Savings Certificates (NSCs) for a fixed period and earn interest on their investments. Here are the key features of the scheme: Types of Accounts: The scheme offers three types of accounts: Single Holder Type Account: Can be opened by an adult for themselves, a minor, or a person of unsound mind. A minor above the age of ten can also open this account. Joint A-Type Account: Can be opened jointly in the names of up to three adults, payable to all the holders jointly or to the survivor(s). Joint B-Type Account: Can be opened jointly in the name of up to three adults, payable to any of the account holders or to the survivor(s). Deposits: The minimum deposit required to open an account is one thousand rupees, an...