Can I invest in NSC and PPF both?
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Can I invest in NSC and PPF both?
Yes, you can open both NSC and PPF simultaneously. You can use NSC to pay for your short-term financial goals and use PPF to realize your long-term financial goals (more than ten years). However, you need to keep in mind that the deductions under Section 80 C have an upper limit of Rs. 1.5 lakhs.
Which government scheme gives highest rate of interest?
Top 5 interest rates on Tax-saving Bank FDs. Bank Name.
Can I invest more than 1.5 lakhs in NSC?
There is no maximum limit on the purchase of NSCs, but only investments of up to Rs. 1.5 lakh can earn you a tax break under Section 80C of the Income Tax Act. The certificates earn a fixed interest, which is currently at a rate of 6.8\% per annum. The interest rate is revised on a regular basis by the government.
Will NSC interest rates increase in 2021?
As per the ministry circular, PPF will continue to earn 7.10\%, the NSC will fetch 6.8\%, and Post Office Monthly Income Scheme Account will earn 6.6\%….Read more news on.
| Instrument | Interest rate (\%) for July 1, 2021 to Sep 30, 2021 | Compounding frequency |
|---|---|---|
| 5-year Senior Citizen Savings Scheme | 7.4 | Quarterly and Paid |
Which is better PPF or post office?
Public Provident Fund or commonly known as PPF accounts are secured savings options with fixed income, by the government. A Post Office PPF account will fetch you similar kinds of features like PPF accounts in other banks. PPF accounts generally offer far better interests than other saving accounts.
Which is good NSC or PPF?
A Comparative Difference between NSC vs PPF
| Parameters | NSC | PPF |
|---|---|---|
| Maximum contribution | No upper limit | Rs. 1.5 lakh |
| Minimum contribution | Rs. 100 | Rs. 500 |
| Tenure | 5 years, Cannot be extended | 15 years, Can be extended |
| Additional investments | A new has to be created for additional investments | Can be added to the existing account |
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