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Can NSC Certificate be Prematurely Encashed?

NSC Certificate Premature Encashment Rules

This is a pertinent question as one can get the requirement of money at any given time and thus one should know the premature encashment policies of post offices wrt NSC certificate as given below:

Premature encashment of NSC is allowed only in case of death of the holder, forfeiture by a pledgee, or under orders of court of law. 

  • If the encashment happens within a period of one year from the date of the certificate, only the face value will be paid. 
  • If the encashment happens after one year but before three years, simple interest is paid at the rates applicable to Post office savings accounts. 
  • After three years, the certificates will be enchased at a discounted value specified in the rules.
So if you have enjoyed tax exemption benefits for NSC; then forget it for the period for which you have invested money in it except for the conditions as elucidated above.

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