national savings certificate

(redirected from National Savings Certificates)

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.

national savings certificate

a FINANCIAL SECURITY issued by the UK government as a means of raising money for the government and encouraging private SAVING. National Savings Certificates are issued in small denominations through post offices and banks; holders receive interest on them which is free of income tax, but the number held by any one person is limited to (currently) 20,000.
References in periodicals archive ?
Tighter eligibility criteria and a move towards market-based pricing will reduce reliance on National Savings Certificates and help strengthen financial intermediation and deepen capital markets.
The government has already appointed a Dubai-based Karachi advisory firm Dar Al Sharia to replicate Islamic financial model for the conventional national savings certificates.
New Delhi: Amending rules on post office savings schemes like the National Savings Certificates (NSC) and Public Provident Fund (PPF), the government has notified that such accounts would be closed prior to maturity in case of holders changing their personal status to become non-resident Indians (NRIs).
They stated that Pakistan Post is doing Saving Bank work as an Agent of Ministry of Finance on commission under Saving Bank Act, 1873, while saving certificates are issued under Post Office National Saving Certificate Act, 1917, and Post Office National Savings Certificates Ordinance 1944.
The popular five- year national savings certificates will earn an interest rate of 8.
Watch out for the next issue of National Savings Certificates done in March or April - but don't tell everyone
FOR those investors used to the cheap and secure investments offered by National Savings & Investments (NS&I), sadly the announcement that NS&I have withdrawn access to the new issuing of National Savings certificates, may leave investors feeling somewhat disappointed.
The recent axing of inflation-linked national savings certificates is a blow to savers looking to protect their savings from the ravages of inflation, according to a Midlands-based expert.
While Rs 12,500 would be given in cash, the beneficiaries would be given the balance amount in the form of National Savings Certificates, it said.
The best and probably only way to beat inflation is to buy index-linked National Savings Certificates for three years or five, which give you 1% on top of RPI, tax free.
If National Savings certificates are cancelled within the first year, only the original sum invested is returned.

Full browser ?