BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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INR. 100/
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INR. 200/
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INR. 300/
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INR. 400/-
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Detailed explanation-1: -Step 4: Enter Amount for which NSC to be opened minimum is Rs 1000 and in multiple of < 100) .
Detailed explanation-2: -Start small: You can invest as low as Rs 1, 000 (or multiples of Rs 100) as an initial investment, and increase the amount when feasible. Interest rate: Currently, the rate of interest is 7% p.a. for Q4 FY 2022-23, which the government revises every quarter. It gets compounded annually but will be payable at maturity.
Detailed explanation-3: -Though there is no maximum limit on the purchase of NSCs, only investments of up to Rs 1.5 lakh annually can earn the subscriber the tax savings under Section 80C of the Income Tax Act, 1961. Additionally, the interest earned on NSC annually, for the 1st 4 years are deemed to be reinvested ( ie.
Detailed explanation-4: -Minimum Deposit: Investors can start investing in National Savings Certificate with a minimum deposit of ₹100. The investment can be made in the multiples of ₹100, and there is no upper limit.