The Government has discontinued the physical form of NSC. Now NSC will be available in E-mode and you can purchase National Savings certificate online.
Earlier this year government had decided to reset the interest rates of small savings every quarter. So accordingly, from 1st April 2016 onward the government has changed the rates of small savings including NSC and now on wards rates will be reviewed online.
Read:
New rates of small savings including NSC.
The reason behind quarterly reset of interest rate, as given by the Government are as follows:
- It will help the economy move to a lower interest rate regime and eventually helping the lower income group.
- To alien the interest rates of small savings with the market rates.
- The interest rates of small savings limit the ability of banks to reduce their interest rates which against monetary Policy of RBI.
Quarterly fixation of interest rates leads to online sale of National Saving Certificate. Online sale of NSC is done so that the error of issuing wrong certificate is eliminated.
In case of physical sale of NSC, the government used to issue bulk number of NSC certificates to the Post offices. In turn, the post offices used to sale these NSC certificates to the customers. There were chances of errors in issue of wrong NSC certificates in case there is change in NSC interest rates quarterly. This error cannot occur in case of online sale, since the certificate’s interest rate will get automatically changed.
The government has replaced the sale of NSC in physical form by Sale of NSC in E-mode. But till the CBS system of online sale of NSC put into place, the post offices are allowed to sale the NSC physically recorded on a passbook.
The benefit of National Savings Certificate online mode is that it will be always accessible online and printouts or physically copy can be obtained on demand.
The NSC in E-mode will be issued in two types:
- Exclusive E mode :- The NSC will be viewable in online mode in Form A. Customer can view it online by having internet banking with saving account. Customer will have right to view all time.
- Pass-Book Mode:- Under this mode, the NSC will be printed or entered manually in a pass book. Such pass book is issued by the officials with their signature in blue color.
The goverment has advices to use more “Exclusive E mode” over ” Pass-Book Mode” so that things get online and system go paperless. But the customer can opt for any one of the method.
The passbook mode is eligible for pledging throughout the country form 1st July 2017.
Transfer of NSC in E-Mode can be made as per old rules.
Though the online purchase of NSC is announced but the online system will take some time to replace the physical sale of NSC completely.
I will update this article for any further updates and soon I will provide a link for online purchase of National Savings Certificate.
Please comment on any query on Purchase of National Savings Certificate Online.
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I am a salaried person. The tax deducted from my salary every month. But when i check form 26AS i found some entries are missing. From FY 2012-13 to FY 2015-16 only the entries of FY 2013-14 are clear. What should i do? Whats the problem? IS THERE ANY PENALTY?
Sir,
Your employer deducts TDS and submit to the government which is reflected in form 26AS. Ask your employer to correct the TDS return filed by them. You can also claim TDS based on TDS certificate provided by your employer. There is no penalty for you.
Sir,
What is the maturity period of NSC and kindly share year wise interest rate also ..
If I invest 500000.rs on NSC what will be maturity value.when I get money tax will dedcut
Hi,
As per subject line request you to please provide online investment link.
NSC On line – is it available now, if so please guide how to purchase the same online. Is it safe purchasing NSC online. Once purchased online where to go for maturity. What is the current rate of interest on a 5 year term NSC.
Dear Susanta Kumar Pradhan,
Can you please advise how can i purchase NSC through Online.
Hai
Can you please advise how can i purchase NSC through Online.
how can i buy NSC thru ICICI internet banking.Please advise
How can we buy online NSC certificates ? Is that online system is available now as this is December month
I am still not getting from where & how we can purchase NSC online.
Sir, I read on ICICI bank that it is available in ICICI _Direct. So for buying online you need to have a Dmat account.
Sir!
I am state government employee. My employer has not been given HRA in F-Y 2015-16 and they have given the whole HRA of FY-2015-16 in current financial year.
Can I take the income tax rebate of that HRA amount in this financial year (by giving HRA payment receipts & form 12BB)? I told my DDO to give me rebate in u/s 89 but he replied that you have do by yourself.
What I have to do sir?
Hi sukhinder,
If the employer is reluctant in giving rebate, then you can yourself claim that relief while filing your income tax return and claim the refund. You can read this article for more information on salary arrears https://www.investsaver.com/income-tax-relief-for-salary-arrears/
Initially if we invest in E-Mode, is it possible to convert to pass book mode to get the loan from any bank?
Yes, you can.
Any update.. Is it available online now?
Which site to buy it from and what’s the procedure
Any Update of NSC available Online.
Please tell the procedure of buying NSC online
Till now there is no purchase of NSC online, you can only view NSC in online mode.
How to view NSC in online mode?
Is it possible now to purchase nsc online through ICICI bank savings account with net banking facility.
Is NSC online available ?
Hi Harish
Can I purchase NSC every month, so that after 5 years I get maturity amoun like a monthly income.
Digged the net for hours for purchase of online NSC, but in vain and pain. No solutions as yet. Enquired with nearest PO: Post Offices are issuing it as usual with form/ 2 photos/ 2each xeroxes of PAN and Aadhaarand their KYC form. Any other latest with anyone, may kindly do the favours.
Hi
Whom should I complaint if I am not paid amount even after 5 months of maturity?
Earlier, we used to get bonds with certificate number. Now that everything moved to passbook/e-mode, how do I get the certificate number. I need the certificate number for proof submission.
when will the nsc , kvp etc be available in emode? can passbook mode be later changed to emaode?