This document summarizes and compares two Indian government savings schemes: the National Savings Certificate (NSC) and the Senior Citizens Savings Scheme (SCSS). The NSC is available to all Indian residents and offers an annual interest rate of 8% over a 5-year term. The SCSS is primarily for senior citizens aged 60 and over, offers a higher interest rate of 8.7-9%, and has a term of 5-8 years. While both schemes provide tax benefits, the SCSS is recommended for retirees seeking assured returns and regular income due to its higher interest rate and quarterly interest payments.

1. STUDY ABOUT NATIONAL SAVINGS CERTIFICATE
&SENIOR CITIZEN SAVINGS SCHEME CERTIFICATE
Presented By-
Adrita Bhattacharaya
Akash Kumar Saha
Manisha Thakur
Dipesh Shah
Ragini Soni

2. Features Benefit
Minimum Investment Rs. 100
Maximum Investment No maximum limits
Interest option Compounded annually
Interest rate 8%
Tenure 5years
Loan against NSC
1. Only resident Indians can apply for a loan against NSC.
2. The margin applicable to loan against NSC depends on the time
remaining till maturity.
3. The loan tenure equals the residual maturity (time remaining till
maturity) of the NSC used as collateral.
Premature withdrawal
1. On the death of NSC holder.
2. On forfeiture by a pledgee who is a Gazette Government Officer.
3. On the order of court for premature withdrawal of NSC
Mode of holding Individual/Joint/Minor through the guardian
Eligibility Resident Indian National
NATIONAL SAVINGS CERTIFICATE
Introduction- is a tax saving investment that can be purchased from any post office by an Indian Resident.
Being a fixed return and low risk Government of India-backed investment, NSC is usually preferred by risk-averse
investors or those seeking to diversify their portfolio through fixed return instrument.

3. Documents Required to Apply for NSC
 Completely filled out NSC Application form.
 Recent Photograph
 Identity proof – Aadhaar, PAN, etc.
 Address proof – Aadhaar, Voter ID, etc.
 Cash/cheque deposit of investment amount.
 These documents can be submitted at any India Post Office to obtain NSC in applicable
denominations.
 Credit Score affects your Loan & Credit Card Eligibility.
Documentation
Tax treatment : Investment under this scheme qualifies for the benefit
of Section 80C of the Income Tax Act, 1961 from 1.4.2007.

4. Senior citizen savings scheme ( SCSS )
Introduction- The Senior Citizens Savings Scheme (SCSS) is primarily for the senior citizens of India.
The scheme offers a regular stream of income with the highest of safety and tax saving benefits. It is an
apt choice of investment for those over 60 years of age. SCSS is a scheme with a 5-year tenure with an
option of extending it for further 3 years.
Features Benefit
Minimum Investment Rs. 1000
Maximum Investment Rs. 15,00,000
Interest option Quarterly Receivable interest
Interest 8.7
Tenure 5-8 years
Loan against SCSS NA
Premature withdrawal Allowed after 1year, 1.5% withdrawal charges
Mode of holding Individual/Joint
Eligibility Resident Indian National with age of 60 and above
Tax treatment
Investment under this scheme qualifies for the benefit of
Section 80C of the Income Tax Act, 1961 from 1.4.2007.

5. Documents Required to Apply for SCSS
 A fully and correctly filled application form that can be obtained from a bank or post office
 Applicant(s) photos
 Aadhaar details
 Permanent Account Number (PAN)
 Proof of age
 Proof of residence
 Retired applicants will be required to furnish a employer-issued certificate which states the
designation help by the applicant, duration of their employment, retirement benefits they are
entitled to, and whether the retirement was on superannuation or otherwise.
 Proof stating the date on which applicant’s retirement benefits were disbursed
 Applicants may also be required to provide the details of existing accounts held by them under this
scheme, and also the amounts that have been deposited in each of such accounts.
Documentation

6. Difference Between NSC & SCSS
Features NSC SCSS
Open an account with Only in Post Offices. In Bank & Post office.
Return of Investment 8 % 8.7-9 %
Maturity Period 5 years 5-8 years
Maximum Investment No limit Upto 15 Lakh
Age Limit Any Individual/ minor Age 60 & above
Tax Benefit on investment Exempted Exempted
Tax Benefit on Return Taxable Taxable
Pre Mature Withdrawal *Not allowed
Allowed after 1year, 1.5%
withdrawal charges
Product
Lump sum Investment
(Rs.)
Tenure Returns (Rs.)
NSC 15 Lakh 5 year 22,20,366.43
SCSS 15 Lakh 5 year 21,45,000

7. Maturity Amount: 21,45,000
Total Interest: 6,45000
Quarterly Receivable Interest: 32,250
Maturity Amount: 22,20,366.43
Total Interest: 7,20,366.43
Investment summary NSC vs SCSS
NSC
SCSS

8. Which One is Best (Recommendation)
Bank deposit rates have fallen in the past two years and
especially after demonetization. Though banks offer senior
citizens higher rates, for regular investors the deposit rates are
now 7-7.2%. This makes the NSCs more attractive with 8%
ROI. But go for them only if you are ready to stand in long
queues at the Post Office and put up with the laxity of the
government staff.
The Senior Citizens’ Savings Scheme should be the first option
for retirees looking to park their life savings. It offers assured
returns with 8.7% ROI and regular income. These are critical
requirements of most retirees.
NATIONAL SAVINGS CERTIFICATES
SENIOR CITIZENS’ SAVING SCHEME

9. THANK
YOU