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Banking Term: National Saving Certificate

Find important banking term that is useful in upcoming banking exam.

Apr 18, 2015 14:34 IST
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Banking Term: National Saving Certificate

  • A bond issued by government (Department for National Saving).
  • There have been some thirty one different issues of these certificates on which an interest, an index-linked increase or a bonus are payable on maturity or earlier.
  • The certificate can be enchased at any time and interest is taxfree.
  • Scheme specially designed for Government employees, Businessmen and other salaried classes who are Income Tax assesses.

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