How nominees can claim money from small savings schemes like PPF NSC?

As per the circular, in small savings schemes held with post office where nomination is registered with the same post office and in force at the time of death of individual, then the concerned post office will pay the amount to the nominee/nominees irrespective of the amount and without the production of any legal …

Is PPF a small saving scheme?

The Ministry of Finance on Thursday kept interest rates of small savings schemes comprising Public Provident Fund (PPF) and Sukanya Samriddhi Yojana (SSY), other post office schemes unchanged for the sixth quarter in a row for the October-December quarter.

How do I encash NSC?

Visit the post office along with original NSC, Identity Slip (issued during buying), identity proof and a handwritten application (I have not found any particular application). Submit this to the branch, where you want to encash or withdraw the NSC.

How do I reinvest NSC maturity?

Individuals who wish to encash their certificates on maturity can do so by approaching the relevant post office where they purchased and registered their National Savings Certificates. They will have to fill up the NSC transfer form and submit it to the relevant authority.

Is PPF a government scheme?

Public Provident Fund Scheme is a Central Government scheme, framed under the PPF Act of 1968. Thus we can say PPF is a government backed, long term Small Savings Scheme. The Scheme offers an investment avenue with decent returns coupled with income tax benefits.

How does public provident fund work?

Public Provident Fund (PPF) scheme is a long term investment option that offers an attractive rate of interest and returns on the amount invested. The interest earned and the returns are not taxable under Income Tax.

What is PPF and its benefits?

Public Provident Fund (PPF) is one of the most popular long-term saving schemes which focuses on inducing small savings like investments and accrue returns on the same. As a saving scheme by the government, PPF gives an agreeable rate of interest and returns on investments.