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The National Savings Certificate (NSC) is a fixed-income investment option. In India, it is a popular savings product.. The NSC plan is a project of the Indian government. As a result, it guarantees profits. Investors with low and moderate incomes are encouraged to save with this savings bond. Most importantly, NSC also offers tax deductions.

NSC investments up to 1.5 lakhs are tax-free under Section 80C of the Income Tax Act. They are locked in for 5 years in case of NSC VIII issue and 10 years in case of IX issue. NSC certificates earn a fixed rate of interest. The current rate of interest is 6.8%. NSC, like other fixed-income vehicles like PPF and Post Office FDs, is a risk-free investment. A minimum deposit of Rs 1000 is required and the individual can choose to invest in multiples of 100 as per the need.

What is an NSC calculator and how does it help me?

You can enter the NSC type, the period in which NSC was purchased and the amount of investment in the NSC calculator 2022. The tool will calculate the total interest accrued in the particular FY and deduction will be allowed of the same under Section 80C.

How does the NSC calculator work?

The calculator takes input from the user and calculates the amount of interest, the deduction under 80C for the investment made in NSC.

How to use the tax2win NSC calculator?

To use tax2win’s NSC calculator, enter the following information:

  • Financial year
  • NSC type
  • Period unit
  • Investment amount

You will get the interest amount and Deduction under Section 80C amount on your screen.

What are the benefits of using the NSC Tax Calculator?

Calculating the interest amount manually can be time-consuming. With the help of this NSC calculator by tax2win, you can easily calculate your interest and keep a check on your finances.

  • This is easy and safe to use
  • You won’t be needing any additional tool to calculate your interest on the NSC
  • It is free and can be accessed on any device, be it PC or mobile of your choice.
Eligibility Criteria for Using NSC Tax Calculator

For using tax2win’s NSC tax calculator, you must have an NSC investment so that you can enter the relevant details in the segments given in the tool.

FAQ

1

Is Tax2win’s NSC calculator safe to use?

Yes, it is totally safe to use Tax2win’s NSC calculator. The data you enter here is not stored anywhere on our database and you also do not have to provide your personal details to use this calculator. You can use it without worrying about safety.

2

What is the current interest rate on a National Savings Certificate (NSC)?

The current interest rate on National Saving Certificates (NSCs) is 6.8%. As of April 1st, 2020, this rate is current. Once a year, it is compounded.

3

When my NSC matures, how can I get money?

When the investment matures, the investor has the option of cashing it out. He or she may also choose to have it deposited into his or her bank account. The investment will produce interest if the investor does not withdraw his or her money. The interest rate will be comparable to that of a post office savings account for two years. Following that, there will be no return on the investment.

4

Is it possible to withdraw before it reaches maturity?

It is not possible to take money out of a National Savings Certificate NSC investment before it matures. Premature withdrawals are only permitted in exceptional circumstances, such as when an investor dies or when a court order is issued.

5

Is it possible to break the NSC?

NSC has a 5-year and 10 year lock-in period depending on the conditions mentioned above, and investors must keep their money in the account until it matures. However, in the event of the account holder's untimely death or court order, the scheme allows for early withdrawals.

6

Is the interest rate on a National Savings Certificate (NSC) fixed?

The interest rate on NSC is 6.8% for the current quarter. Every quarter, the Ministry of Finance announces the NSC interest rate in the country . NSC returns are guaranteed, compounded annually, and paid out at maturity.

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