post-officeCentral Scheme

National Savings Scheme 1987 (NSS-87)

राष्ट्रीय बचत योजना 1987

Ministry of Finance

iAbout This Scheme

The National Savings Scheme 1987 was a post-office-based tax-saving scheme that offered Section 80CCA deduction on deposits. It was discontinued in 2002 and deposits were frozen; withdrawals are allowed on maturity or after account holder turns 60. It earned 11% interest when active and is now at post office saving account rate for residual balances.

🎁Key Benefits

Section 80CCA tax deduction was available during active years
Deposits earn interest as applicable from time to time
Residual withdrawals permitted on attaining age 60 or death
Implemented through post offices

✅Eligibility Criteria

1
Existing account holders only; no new accounts since 2002

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📝How to Apply

Historical Scheme — No Active Application

This scheme has been discontinued. It has been superseded by newer programmes. Visit the successor scheme page or contact your district collector for current alternatives.

❓Frequently Asked Questions

Are post office savings schemes safe?

Yes, all India Post savings schemes are backed by the Government of India and carry sovereign guarantee, making them among the safest investment options available.

What is the current interest rate for PPF?

PPF (Public Provident Fund) currently offers 7.1% interest rate (tax-free). The interest is compounded annually. PPF has a 15-year maturity period with partial withdrawal allowed from 7th year.

Can NRIs invest in post office schemes?

Most post office schemes are only for resident Indians. NRIs are generally not eligible for NSC, PPF, or post office savings accounts. However, NRIs can maintain existing PPF accounts opened before becoming NRI.

What is the minimum investment in NSC?

National Savings Certificate (NSC) can be opened with a minimum investment of ₹1,000 and in multiples of ₹100. There is no maximum limit. Investment qualifies for tax deduction under Section 80C.

Required Documents

This is a historical/discontinued scheme — no active application required
For research reference: consult Planning Commission archives or National Archives of India
Scheme records available at archive.india.gov.in

Editorial note: This page is researched, written, and regularly reviewed by the Aditya Raj Hirve using official government sources and notifications. Information is verified against the originating ministry or department portal before publication. Last reviewed: July 2026.

Always verify critical details directly from the official government portal before applying.

Required Documents

National Savings Scheme 1987 (NSS-87) — Eligibility, Documents & Apply 2026 | Sarkaari Saathi

National Savings Scheme 1987 (NSS-87)

iAbout This Scheme

🎁Key Benefits

✅Eligibility Criteria

📝How to Apply

❓Frequently Asked Questions

Required Documents

Required Documents

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