Here we will explain how you can calculate your NSC Maturity money and interest on your NSC investment with the help of the Online NSC Calculator. We are going to list about four best online NSC Calculators to help you easily get your maturity value.
Table Of Content
Introduction To NSC
NSC (National Saving Certificate) is one of the most popular fixed-income saving schemes with the TAX benefits up to 1.5 lakhs under section 80c of the Income Tax Act.
Currently, as of 1 April 2020, NSC is offering 6.8% interest for the maturity period of 5 years.
NSC provides compound interest on the investment instead of simple interest, so calculating the interest on NSC is a little tricky and can take a long time.
Example Of Compound Interest:
Investment money = 10,000
Rate of interest = 10%
So first-year interest= 10% of 10000, which means 1000
But next year, you will get interest on your total sum instead of invested money: 10% of 10000+1000, which means 1100
That is why calculating interest on NSC is a little complex, so here we are going to explain to you about four best free online NSC Calculators that can calculate your NSC maturity within a minute.
Quick List Of NSC Calculators
- NSCCalculator.com | Free (Open Source)
- Scripbox NSC Calculator | Free (Open Source)
- NSC Calculator By Icalculator | Free (Open Source)
- NSC Calculator By EasyCalculation | Free (Open Source)
Detailed Overview Of NSC Calculators
• NSCCalculator.com
This is a dedicated website related to NSC, where you can find all of the information related to the National Saving Certificate.
How To Use The Calculator
- Enter the amount you are planning to invest
- Enter the interest rate 6.8% (as on 1 April 2020)
- Enter tenure 5
The tool will automatically calculate the numbers, and you can see the result below the toolbox.
• Scripbox NSC Calculator
Scripbox helps users to invest in Mutual Funds. On their website, you can find Algorithmically selected good potential mutual funds, or even you can call them to discuss your mutual fund investment goals.
How To Use The Calculator
- Enter the invested amount
- Pick half-yearly
- Set the rate of interest to 6.8%
- Tenure is already fixed to 5 years, so you do not need to do anything there.
It automatically calculates and shows you the final numbers, which you can see on the right side of the calculator.
• NSC Calculator By Icalculator
Icalculator is the online hub of personal and business purpose free calculators. You can use all of their calculators for free.
How To Use The Calculator
- First, you need to enter the amount you invested or planning to invest
- Choose the rate of interest 6.8
- Choose tenure 5
Below the toolbox, you can see your total maturity value.
It does not show the separate interest value, so simply deduct the invested money to the total maturity value to get the total interest on the investment.
• NSC Calculator By EasyCalculation
EasyCalculation is also a hub of open-source online calculators for different purposes.
Its NSC calculator tool has one extra feature; it can show your total maturity value in a different currency.
How To Use The Calculator
- First, pick your preferred currency: To select, just tap on the currency, and it will show you all of the options. We will recommend you to choose rupees.
- Enter the invested amount
- Choose the rate of interest to 6.8
- Enter the number of years to 5
- Tap calculate
Just below the box, you can see the maturity value.