Can I nominate someone for my NSC investment?
Yes, NSC allows the investor to nominate a family member or even a minor to ensure that the maturity proceeds can be inherited by the nominee in case of the investor’s demise.
Here are the rules regarding nomination:
- A nominee can be appointed for each NSC investment.
- If the denomination of the National Savings Certificate is ₹500 or more, more than one nominee can be designated.
- This facility ensures that in the event of the investor’s death, the nominated family member(s) or the minor can directly inherit the proceeds without any legal hassles.