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LOANS ADVANCE AGAINST NATIONAL SAVINGS CERTIFICATES (NSC) / KISAN VIKAS PATRA (KVP)

Written By Franklin V on Tuesday, May 3, 2011 | 9:11 PM

NSC is a samll saving scheme specially designed for Government employees, Businessmen and other salaried classes who are IT assesses. Investment up to INR 1,00,000/- per annum qualifies for IT Rebate under section 80C of IT Act.
Eligibility for Loan against NSC
Applicant must have National Savings Certificate / Kisan Vikas Patra in own name
Purpose for loan
Any Business / Personal purpose other than for speculative ones.Charges and interest

Bank may charge processing fees against the loan grant. Differnet banks have differnet intrest charges against loan.
Loan Amount
Amount of loan depands on the bank rules, from where you are going to apply for loan. Normally it depands on the number of years the NSC certificate is.
Repayment Period
Loan to be liquidated within the tenure of the instruments or earlier.
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