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KVP, NSC: How to open, close accounts online via India Post internet banking facility

The facility for opening and closing NSC (VIII Issue) KVP is now accessible under the 'General Services' section of DOP Internet Banking, allowing users to open and close NSC and KVP online.

ET Now Digital

Updated Aug 20, 2022, 07:50 IST

Photo : PTI

The Department of Post (DOP) announced via a notification on August 18 about the introduction of online account opening and closure for National Savings Certificates (NSC) and Kisan Vikas Patra (KVP) in DOP Internet Banking. This special announcement was made on the occasion of 'Azadi ka Amrit Mahotsav‘.

The facility for opening and closing NSC (VIII Issue) KVP is now accessible under the 'General Services' section of DOP Internet Banking, allowing users to open and close NSC and KVP online.

KVP

Kisan Vikas Patra, or KVP for short, is a savings programme by DOP. The compounded annual interest rate for the quarter ending September 30, 2022 is 6.9 percent. The maturity period of an account is 9 years and 5 months from the date of deposit.

NSC

National Savings Certificates are savings bonds available through India Post's small savings schemes. An adult, a minor, or a trust can open an NSC. The NSC interest rate for the quarter ending September 30, 2022 is 6.8 percent, compounded annually. The account will mature after five years from the date of deposit.

Take a look at how to open an NSC or KVP account online using the India Post’s internet banking service.

How to open NSC, KVP online in through Post Office internet banking

Step 1: Login into DOP internet banking .

Step 2: Under ‘General Services' >'Service Requests' > 'New Requests' .

Step 3: Click on NSC Account - Open a NSC account and KVP Account to open a KVP account.

Step 4: Enter Amount for which NSC to be opened minimum is Rs 1000 and in multiple of < 100) .

Step 5: Select the Debit Account linked PO Saving Account

Step 6: Click on 'Click Here' to read terms and conditions and accept terms and conditions .

Step 7: Submit online

Step 8: Enter transaction password and submit.

How to close the NSC or KVP account using the internet banking facility.

Step 1: Login into DOP internet banking .

Step 2: Under 'General Services', click on 'Service Requests' > 'New Requests' .

Step 3: Click on closure of NSC Account for NSC and closure of KVP Account for KVP .

Step 4: Select NSC account or KVP account to be closed and the account to be credited that is linked PO Saving Account.

Step 5: Submit online

Step 6: Enter transaction password and submit.

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