National Saving Certificate
National Saving Certificate (NSC) is a saving scheme by Indian government. It provides 8 percent interest rate on your saving, but locking period of this scheme is 6 years. So, if you save money in this scheme you cannot withdraw money before six years. For example, Saving of Rs. 100 would encash you Rs.160.10 at the end of six years.
Income Tax benefit: Amount saved in this scheme is non-taxable under Income Tax act. 80 C.