National Savings Certificate Calculator
National Savings Certificate (NSC) is a savings scheme offered by the Government of India that is aimed at encouraging small savings among Indian citizens. NSC is a fixed income investment that offers a guaranteed return on investment.
Initial investment
Current interest rate
7%
Time Period (Yrs)
5 Yrs
Compounding Frequency
Calculate
Invested
₹ 25,00,000
Total Interest
₹ 10,06,379
Total Amount
₹ 35,06,379
How to use this calculator?
National Savings Certificate
National Savings Certificate (NSC) is a savings scheme offered by the Government of India that is aimed at encouraging small savings among Indian citizens.
Maturity
NSC VIII issues mature at the completion of 5th year of deposit.
Lock-in period of NSC
NSC cannot be withdrawn before maturity. Only in case of death of the account holder, withdrawal is allowed.
Interest rates
| Date Range | Interest Rate (% per annum) |
|---|---|
| 01-Jan-2023 to 31-Mar-2023 | 7.0% |
| 01-Oct-2022 to 31-Dec-2022 | 6.8% |
| 01-Jul-2022 to 30-Sep-2022 | 6.8% |
| 01-Apr-2022 to 30-Jun-2022 | 6.8% |
| 01-Jan-2022 to 31-Mar-2022 | 6.8% |
| 01-Oct-2021 to 31-Dec-2021 | 6.8% |
| 01-Jul-2021 to 30-Sep-2021 | 6.8% |
| 01-Apr-2021 to 30-Jun-2021 | 6.8% |
| 01-Jan-2021 to 31-Mar-2021 | 6.8% |
| 01-Oct-2020 to 31-Dec-2020 | 6.8% |
| 01-Jul-2020 to 30-Sep-2020 | 6.8% |
| 01-Apr-2020 to 30-Sep-2020 | 6.8% |
| 01-Oct-2019 to 31-Mar-2020 | 7.9% |
| 01-Jul-2019 to 30-Sep-2019 | 7.9% |
| 01-Jan-2019 to 30-Jun-2019 | 8.0% |
| 01-Oct-2018 to 31-Dec-2018 | 8.0% |
| 01-Jan-2018 to 30-Sep-2018 | 7.6% |
| 01-Jul-2017 to 31-Dec-2017 | 7.8% |
| 01-Apr-2017 to 30-Jun-2017 | 7.9% |
| 01-Oct-2016 to 31-Mar-2017 | 8.0% |
| 01-Apr-2016 to 30-Sep-2016 | 8.1% |
| 01-Apr-2013 to 31-Mar-2016 | 8.5% |
Tax implications
NSC qualifies for tax benefits under Section 80C.The interest earned on NSC investments is taxable.Refer FAQs for more information.
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What is NSC?
National Savings Certificate (NSC) is a savings scheme offered by the Government of India that is aimed at encouraging small savings among Indian citizens. NSC is a fixed income investment that offers a guaranteed return on investment.
When does the investment mature?
NSC VIII issues mature at the completion of 5th year of deposit.
How does the NSC calculator work?
It uses the following logic
A = P * (1 + (r / (100 * f))) ^ (n * f)
Where:
A = Maturity Value
P = Principal Amount or Total Investment
r = Annual Interest Rate
n = Time Period in Years
f = Compounding Frequency per year
The interest earned can be calculated as:
I = A - P
Why should I use FundsIndia NSC Calculator?
FundsIndia NSC Calculator is an intuitive and easy to use application that can save the time of manually calculating NSC returns which is a fairly complicated calculation. It can visualise the interest with principal amount in an easily understandable manner. FI NSC calculator is always up to date on interest rates so you can get accurate results.
What are the tax implications of NSC?
- Tax benefits: NSC qualifies for tax benefits under Section 80C of the Income Tax Act, 1961. The investment made in NSC up to Rs.1.5 lakh in a financial year is eligible for tax deduction under Section 80C.
- Interest income: The interest earned on NSC investments is taxable. However, it is not paid out annually but instead gets reinvested along with the principal amount, which qualifies for further tax deduction under Section 80C.
- Taxation at maturity: At the time of maturity, the interest earned on NSC investments is added to the principal amount and the total amount is paid out. This payout amount is taxable in the year of maturity. The tax on the NSC investment is calculated as per the individual's tax slab rate.
- TDS: TDS or tax deducted at source is not applicable for NSC investments.
Is NSC safe?
NSC is issued by the Government of India and is a part of its small savings schemes. It is backed by the sovereign guarantee, which means that the investment made in NSC is secure and safe. NSC investments have a maturity period of 5 years and come with no market risk, making it a low-risk investment option. The investment in NSC also qualifies for tax deduction under Section 80C of the Income Tax Act, 1961.
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