Question
Compare any five features of Monthly Income Scheme(MIS) and National Savings Certificate(NSC).
Solution
| Features | Monthly Income Scheme (MIS) | National Saving Certificate (NSC) |
| i. Interest | Less rate of interest or 7.8% | Higher Interest or 7.9% / 8.1% |
| ii. Max. Limit | Limit of 4.5 lakh in single /9 lakh in joint account | No limit of investment |
| iii. Time of Investment | Money can be invested in multiple accounts over a period of time | Investment to be done once in lump sum |
| iv. Minimum deposit | Rs. 1500/- |
Rs. 100/ |
| vi. Premature withdrawal | Can withdraw money before 3 years with penalty | Cannot withdraw before the stipulated time. |
| Tax rebate | No tax rebate | Tax rebate |
| Loan Facility | No loan facility given | Can avail loan against it. |
| Interest available | Interest given on monthly basis | Facility not available |
