Collaborative Research Scheme (CRS) 2026

The National Savings Certificates (VIII-Issue) Scheme encourages long-term savings by the Ministry of Finance, offering secure investments Read More... for Indian residents. Read less

Details

Looking for a safe and steady way to grow your savings? The National Savings Certificates (VIII-Issue) Scheme, backed by the Indian government, is a great option for individuals who believe in long-term financial planning.

What Is the National Savings Certificates (VIII-Issue) Scheme?

This scheme, introduced by the Department of Economic Affairs under the Ministry of Finance, aims to build a strong savings habit among Indians. It allows you to invest your money for a fixed period and earn good returns. You can deposit as little as ₹1000 and then in multiples of ₹100. There's no upper limit to how much you can invest. The scheme has a maturity period of 5 years.

Who Can Benefit From This Scheme?

This scheme is designed for individuals who are residents of India. Even if you're opening an account for a minor or someone who is unable to manage their affairs due to unsound mind, you can do so as their guardian. For minors themselves, they can open an account if they are at least 10 years old.

Why This Scheme Is Important

The NSC (VIII-Issue) Scheme plays a crucial role in promoting financial discipline and encouraging people to save for their future. It provides a secure investment avenue with a guaranteed interest rate, offering peace of mind and a reliable way to build wealth over time. This government-backed scheme ensures the safety of your investment.

Objective

The National Savings Certificates (VIII-Issue) Scheme encourages long-term savings by the Ministry of Finance, offering secure investments for Indian residents.

Benefits

Limit of Funding:

Maximum funding of ₹ 25,00,000/-.

Note:

Recurring 40% and Non-Recurring 60% of the total grant sectioned.

Institute have to open separate bank account in nationalised bank for the grant in Collaborative Research Scheme.

Extra funds provided only in special cases.

Disbursement of the funds:

25% amount of total sanctioned Non-recurring Grant and 25% amount of the total sanctioned Recurring Grant in a first installment.

Remaining of total sanctioned Recurring and Non-Recurring grant only after the submission of Utilization Certificate, all requisite documents and review of the project by expert committee.

Sources and references

Guidelines

Eligibility Criteria

To invest in the National Savings Certificates (VIII-Issue) Scheme, you need to meet the following criteria:

You must be a resident of India.
Guardians can open accounts on behalf of a minor or a person of unsound mind.
If a minor is opening the account, they must be at least 10 years old.

About Deposits:

The minimum deposit is ₹1000, and subsequent deposits must be in multiples of ₹100.
There is no maximum limit for deposits. You can open as many accounts as you wish.

Payment on Maturity:

Your deposit will mature after 5 years from the date of deposit. You can claim the maturity amount by submitting the required form to the accounts office.
A ₹1000 deposit will grow to approximately ₹1462.54 at maturity. Amounts in fractions of a rupee are rounded off to the nearest rupee, with 50 paisa or more treated as a full rupee.
You can request an annual interest accrual certificate from the accounts office if needed.

How To Apply

You can apply for National Savings Certificates (VIII-Issue) at your nearest Post Office or designated bank branches. The application process typically involves filling out a prescribed form and submitting it with the required documents and initial investment amount.

Documents Required

Passport size photograph
Aadhaar Card
PAN Card
Proof of age (e.g., Birth Certificate)
For identification and address proof, any of the following can be used:
- Passport
- Driving license
- Voter’s ID card
- Job card issued by NREGA signed by a State Government officer
- Letter from the National Population Register containing name and address

FAQ’s

What is the maturity value for a ₹1000 deposit in NSC (VIII-Issue)?

If you deposit ₹1000 in the National Savings Certificates (VIII-Issue) Scheme, the maturity value after 5 years will be approximately ₹1462.54. For other deposit amounts, the maturity value will be proportionate. Fractions of a rupee are rounded to the nearest rupee.

Can I open an NSC account for my child?

Yes, you can. Guardians can open an account on behalf of a minor. However, if the minor is opening the account themselves, they must be at least 10 years old.

What is the minimum amount I can invest in NSC (VIII-Issue)?

The minimum amount you can deposit in a National Savings Certificates (VIII-Issue) account is ₹1000. You can invest further in multiples of ₹100.

Are there any restrictions on how many NSC accounts I can open?

No, there is no limit on the number of accounts an individual can open under the National Savings Certificates (VIII-Issue) Scheme. You can open as many accounts as you wish.

What happens if the investor passes away before maturity?

The NSC scheme allows for nomination. In the unfortunate event of the investor's death, the nominee is entitled to receive the proceeds of the certificate.

Can I get a loan against my NSC?

Yes, you can use your National Savings Certificates as collateral to obtain a loan from banks.

How do I apply for National Savings Certificates?

To apply for the scheme, you can visit your nearest Post Office or a designated bank branch. You'll need to fill out the required application form and submit necessary documents.

What is the current interest rate for NSC (VIII-Issue)?

The National Savings Certificates (VIII-Issue) Scheme offers an interest rate of 7.7% per annum, compounded annually and payable at maturity.

Is there a maximum limit for investment in NSC (VIII-Issue)?

No, there is no maximum limit for the amount you can deposit in the National Savings Certificates (VIII-Issue) Scheme. You can invest as much as you want, in multiples of ₹100.

Can I transfer my NSC to someone else?

Yes, National Savings Certificates can be transferred to another person. This provides flexibility for investors.