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Banking,Financial Services and Insurance

National Savings Certificates (VIII-Issue) Scheme

The scheme “National Savings Certificates (VIII-Issue) Scheme” was launched by the Department of Economic Affairs, Ministry of Finance, Government of India to promote a culture of long-term savings among individuals.

Authority

Central

Region

None

Status

Verified 2026

Updated

March 2026

What you get

- National Savings Certificates offer an attractive interest rate of 7.7% compounded annually but payable at maturity. | - No maximum deposit limit. | - Account matures in 5 years. | - Loan facility available by pledging with the banks.

Who can apply

A minimum of ₹1000/- and any sum in multiples of ₹100/- may be deposited in an account.; There shall be no maximum limit for deposits in an account or in accounts held by an account holder.; An individual may open any number of accounts.; The deposit shall mature on completion of 5 years from the date of the deposit. The amount of maturity may be repaid to the account holder after submitting the specified form to the accounts office.; The maturity value of an account opened with one thousand rupees shall be One thousand four hundred sixty-two rupees and fifty-four paisa and proportionate for deposits made with any other sum. In the calculation of maturity value, any amount in fraction of a rupee shall be rounded off to the nearest rupee and for this purpose, any amount of fifty paisa or more shall be treated as one rupee, and any amount less than fifty paisa shall be ignored.; A certificate of annual accrual of interest shall be issued by the accounts office, on demand, to the account holder.

Required Paperwork

  • Aadhaar Card
  • PAN Card
  • Income Certificate
  • Residence Proof (Domicile)

Common Questions

Can NSCs be transferred to another individual?

Yes, NSCs are transferable, providing flexibility for investors to assign or transfer their certificates to another person.

What happens in case of the investor's demise?

NSCs allow for nomination, ensuring that in the event of the investor's demise, the designated nominee receives the proceeds.

What is National Savings Certificate?

The scheme "National Savings Certificates (VIII-Issue) Scheme" was launched by the Department of Economic Affairs, Ministry of Finance, Government of India to promote a culture of long-term savings among individuals. Under the scheme, an individual can deposit a minimum of [?]1000/- and thereafter in multiple of [?]100/- with no maximum deposit limit for 5 years maturity period.

Who is eligible to invest in 'National Savings Certificates (NSCs)'?

Any individual who is a resident of India can avail the benefits under the scheme.

Can non-residents invest in NSCs?

No, NSCs are generally not available for non-residents. They are specifically designed for Indian residents.

Is there any age restriction for NSC investors?

No, NSCs are open to individuals of all age groups, from minors to senior citizens. The minimum age for minors should be 10 years.

What are the available tenures for the scheme?

NSCs typically come with fixed tenures, with common options being 5 years.

What is the current rate of interest offered on the scheme?

The interest rate on NSCs is determined by 7.7 % compounded annually but payable at maturity.

How can I apply for National Savings Certificates?

The applicant can visit nearest Post Office Branch or a designated bank.