National Savings Certificate (NSC) is an instrument for facilitating long-term savings. A large chunk of investors use NSCs for saving on their tax, getting double benefits. Thier sole intestion is not only save tax, but also make an investment which are sure to give good and safe returns.
Any individual or on behalf of minors and trust can opt for NSC by applying to the Post Office. Here the payments can be made in cash, cheque or DD or by raising a debit in the savings account held by the purchaser in the Post Office. The issue of certificate will be subject to the realization of the cheque, pay order, DD. The date of the certificate will be the date of realization or encashment of the cheque. If a certificate is lost, destroyed, stolen or mutilated, a duplicate can be issued by the post-office on payment of the prescribed fee.