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How to transfer NSC: How to transfer National Saving Certificate to someone else, know what is the whole process?

How to transfer NSC: How to transfer National Savings Certificate to someone else. Information about its complete process is given here.

How to transfer NSC: Investors also invest in National Saving Scheme to save their tax. But today we are talking here that if you want to transfer this scheme to someone else then how can you do it. Please note that NSC VIII has a maturity period of 5 years and can be transferred only once in between.Also Read – Post Office Schemes: In these superhit schemes of the post office, your money will be doubled directly, know – complete information including interest

What are the rules for transferring NSC? Also Read – You can become rich in just Rs 500, adopt five ways, which will make you rich

If it has been 1 year since you invested in NSC, you can transfer it to another person. To transfer your NSC account, you need to fill Form NC 34. In this form you have to enter the name of the person to whom you want to transfer the NSC, the name of the transferor, serial number of the certificate, amount of the certificate, date of issue of NSC and the signature of the NSC holder. Also Read – PPF, NSC, Sukanya Samriddhi Yojana, Fixed Deposit, Small Savings Schemes: Decision to cut interest rate on savings schemes back, know how much interest will be available from today

KYC is also necessary

If you want to transfer your NSC then your KYC details (KYC) must be complete. The old certificate will be checked by an officer in the post office. It will bear the post master’s seal and the post office date stamp. Apart from this, the person who transfers NSC will also have to pay the fee.

How much interest do you get?

National Savings Certificate is a safe investment scheme. If you want to invest in NSC, then it has a lock-in period of 5 years. That is, after investing 5 years in it, you will get money. In this you get an interest of 6.8 percent. You can invest in it with a minimum of Rs 1000. If you are taking loan from bank then you can keep NSC as security.

How to invest?

You can invest in this in three ways. Firstly, one can invest in the same type either for himself or for a minor. In the second joint A type, two investors can invest together and in the third joint B type, two people invest together but on maturity the money is given to only one investor.

It is necessary to take into account these conditions

You cannot transfer NSC before 1 year. But if the court orders to transfer it in the event of the death of the NSC holder, then it can be done. Apart from this, it also has to be kept in mind that the NSC which is being transferred is worth buying. If the NSC is being transferred to a minor, then the signature of the guardian is required.

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