National Savings Certificate financial definition of National Savings Certificate. National Savings Certificate finance term by the Free Online Dictionary.

National Savings Certificate

An investment vehicle in India whereby one is able to gather savings tax-free. The interest on a national savings certificate is taxable but is considered to have been reinvested and is therefore not actually taxed. Additionally, one receives an income tax rebate for the amount one invests in a national savings certificate. Interest on national savings certificates compounds twice a year. Middle class families in India commonly use national savings certificates as a way to save and invest. They are available for purchase at every post office. See also: Certificate of deposit.

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