1.

Compare any five features of Monthly Income Scheme (MIS) and National Savings Certificate (NSC).

Answer»

The features of Monthly Income Scheme (MIS) and National Savings Certificate (NSC) are compared in the table below

FeatureMonthly Income Scheme (MIS)National Savings Certificate (NSC)
1. Minimum amount to be invested₹ 1500₹ 100
2. Length / time period5 years5 yrs
3. Maxirpum limit of investment₹ 4.5 lakhs (singly) or 9 lakhs (jointly) No limit 
 
4. Income Tax rebateNoYes, under Section 80CC of Income Tax Ac
5. Premature / Partial withdrawaAllowed after one year with deductionsAllowed after one year with deductions and under certain conditions
6. Rate of interest7.7% currently (changes from time to time)8.0% currently (changes from time to time)
7. Facility of monthly incomeYesNo


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