KVP, NSC: Know how to open, close accounts online using India Post internet banking service

The implementation of online account establishment and closure for National Savings Certificates (NSC) and Kisan Vikas Patra (KVP) in DOP Internet Banking was announced by the Department of Post (DOP) via notification on August 18. 'Azadi ka Amrit Mahotsav' was the occasion for this remarkable announcement. 

Users can now open and close NSC and KVP online through the "General Services" part of DOP Internet Banking, which is located under the "NSC (VIII Issue)" heading. 

KVP 

A savings programme run by DOP is called Kisan Vikas Patra, or KVP for short. For the quarter ending September 30, 2022, the yearly compound interest rate is 6.9%. An account's maturity period is 9 years, 5 months after the deposit date. 

NSC 

Savings bonds called National Savings Certificates are offered by India Post's small savings programmes. An NSC can be opened by an adult, a minor, or a trust. The annual compounded NSC interest rate for the quarter ending September 30, 2022 is 6.8%. After five years have passed since the account's deposit date, it will mature. 

Check out how to use the India Post's internet banking service to open an NSC or KVP account online. 

How to use Post Office internet banking to open a NSC or KVP account 

1: Sign in to DOP online banking. 

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

 3: Click on KVP Account and NSC Account to open KVP accounts, respectively. 

4: Enter the amount (minimum is Rs. 1000; multiples of 100 are acceptable.) for which the NSC is to be opened. 

5: Choose the PO Savings Account linked to the Debit Account. 

 6: Read and accept the terms and conditions by clicking "Click Here." 

7: submit online 

8: Enter the transaction password and finish. 

To view the information of NSC opened under "Accounts," log in once again. 

How to deactivate your NSC or KVP account through internet banking. 

1: sign in to DOP online banking. 

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

3: Select the options for closing either NSC or KVP accounts or both. 

4: Decide which KVP or NSC account should be terminated and which account should receive credit for the associated PO Savings Account. 

5: submit online 

6: Enter the transaction password and then submit.