Excel NSC Auto Accrued Interest Calculator and Table - NSC VIII and IX Issue (updated 2023)

Excel for
Chartered Accountants

You may also like the following Posts:

One of the popular tax saving instruments is National Savings Certificates (NSC). The Scheme has specially been designed for Government employees, Businessmen and other salaried classes who are Income Tax assesses.The amount invested up to Rs. 1 lakh in NSC qualifies for deduction under section 80C of Income Tax Act.

However the interest accrued on NSC is taxable. Thereis no deduction of tax at source on the interest income. The maturity period of NSC VIII and IX issue is currently five year and 10 Year respectively and the rate of interest is 8.50% for NSC VII issue and 8.80% for NSC IX issue.

The table of interest for NSC is as under:

NSC VIII Issue - Accrued Interest Rate per year on investment of Rs. 100/-
Year	Till 31/12/98	1/1/99 to 14/1/2000	15/1/00 to 28/2/01	1/3/01 to 28/2/02	1/3/02 to 28/2/03	01/03/03 to 30-11-11	01/12/11 to 31/03/12	01/04/12 to 31/03/13	From 1/04/2013 to 31.03.2016
Rate%	12.00	11.50	11.00	09.50	09.00	08.00	-	8.60	8.50
1	12.40	11.83	11.30	09.72	09.20	08.16	8.58	8.78	8.68
2	13.90	13.23	12.58	10.67	10.05	08.83	9.31	9.56	9.43
3	15.60	14.80	14.00	11.71	10.97	09.55	10.11	10.40	10.25
4	17.50	16.54	15.58	12.85	11.98	10.33	10.98	11.31	11.14
5	19.70	18.51	17.35	14.10	13.10	11.17	11.92	12.30	12.11
6	22.40	20.69	19.31	15.47	14.29	12.08	-	-	-
Total	101.50	95.60	90.12	74.52	69.59	60.12	50.90	52.35	51.62
Maturity Amount	201.50	195.60	190.12	174.52	169.59	160.10	150.90	152.35	151.62

NSC VIII Issue - Accrued Interest Rate per year on investment of Rs. 100/-
Year	01.04.2016 to 30.09.2016	01.10.2016 to 31.03.2017	01.04.2017 to 30.06.2017	01.07.2017 to 31.12.2017	01.01.2018 to 31.03.2019
1	8.10	8.00	7.90	7.80	7.60
2	8.76	8.64	8.52	8.41	8.18
3	9.46	9.33	9.20	9.06	8.80
4	10.23	10.08	9.92	9.77	9.47
5	11.06	10.88	10.71	10.53	10.19

The interest as specified in the table above accrues to the holder of the certificate at the end of each year and the interest so accrued at the end of each year up to the end of the 4^th year shall be deemed to have been re-invested. Thus Interest accrued on NSC also qualifies for deduction under section 80C within the limit of one lakhs.

Amount payable on pre-mature encashment of NSC VIII issue is as under:

Period from the date of NSC to the date of encashment	Amount payable with interest
3 Years or more but less than 3 Years and 6 Months	124.24
3 Years and 6 months or more but less than 4 Years	128.81
4 Years or more but less than 4 Years and 6 Months	133.56
4 Years and 6 months or more but less than 5 Years	138.48

ABCAUS NSC interest calculator is very simple and steps required for using it are as under:

1. Select from the drop down menu, the block of year ( A to J ) in which NSC was purchased
2. Fill the amount of NSC Purchased
3. Select from drop down, the year for which accrued interest is required to be calculated.
4. The rate for the year is selected automatically
5. The accrued interest for the year selected is calculated instantaneously.

Download ABCAUS Excel Auto NSC Interest Calculator (updated 14.07.2023)