Holding NSC and KVP in physical mode is the biggest concern for all of us. To avoid such difficulties, the Government launched NSC and KVP in e-mode and Passbook mode effective from 1st July, 2016. Let us see the features.
We all fond of investing in NSC and KVP of post office schemes. However, the hardest part is to hold the physical certificate until maturity. Either we misplace it or loses it completely.
Hence, to avoid such difficulties Government launched the NSC and KVP in e-mode and Passbook mode. From now onward whoever invest in the NSC or KVP must have them only in these two modes. The issue of physical certificate was discontinued.
Let us see the features of these two options.
This facility is provided to those customers who not ready to go for the e – mod. Banks or Post Offices will print the transaction which shown in their account and issue a passbook. Exactly like Bank Passbook.
If you lost the passbook, then you can request for duplicate passbook by paying the prescribed fee by the Post Office and Banks.
You can only pledge the NSC and KVP held in Passbook mode. You can pledge it anywhere in India. When you request for a pledge the NSC and KVP, then your bank will send the information to concerned Post Office or Bank (where it was issued). After verifying the authenticity of investment, it will be locked by the issued Post Office or Bank Branch. The same process will continue at the time of releasing the pledge.
Once NSC or KVP is pledged, then you can’t apply for transfer from one Post Office/Bank to another Post Office/Bank. However, if NSC or KVP not pledged, then the transfer will continue as per old rules. There will not be any changes to it.
Here, transfer means from one person to another person. You have to apply for transfer in concerned Post Office or Bank. If the first holder having passbook mode, then he has to surrender the passbook. The new passbook will be issued to the new holder.
This list is only for issuing of KVP certificate in e-mode and Passbook mode. However, there is no clarity about NSC. Also, as of now there is no clarify of how the Post Office and Banks will set up the system. Let us wait for more clarification.
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View Comments
How to download NSC Certificate purchased thru online banking
Dear Nanda,
Sadly as of now, this facility is not activated.
WE BOUGHT KVP ONLINE THROUGH INTERNET BANKING BUT BANK SHOULD NOT SUPPORT US HOW TO VIEW AND CHECK ? WHAT TO BE DONE NEXT STEP.
Dear Raju,
Check with the assigned post office to resolve the issue.
Is Post Office (POSB) Internet banking facility even functional as of this date June 2021?? if not then whole blog may be irrelevant.
Dear Vasan,
I publish based on what they notify. If they not update it then is it my fault? :)
I read most of the comments and your answer.Thank you very much for your valuable in formations.
Dear Shakarsha,
My pleasure :)
-In NSC certificate no and Account No is same or different.
-if I activate Emode ,can I download NSC ?
-I can take multiple NSC with same account po acct
Dear BK,
For first and second doubt, approach the Post Office. For third, yes you can.
Hi,
Have Banks started offering purchase of NSC online? I am not able to see any bank offering purchase online yet, but just want to confirm from you.
Thanks.
Dear Gunesh,
As of now, NO.
Please guide me to know Transfer NSC from one State PO to PO of other state.
Dear Shivansh,
Refer my post "How to encash or withdraw NSC bought from different Post Office?".
Is KVP a good option to invest in terms of returns? Why does it say amount will be doubled yet specify interest rate? If i deposit 10000/- I will get back 20000/-, so whats the use of interest rate?
Dear Sahana,
Money doubles but WHEN is the point you have to consider. As and when there is a change in the interest rate of KVP, there is a fluctuation in the way money doubles also.
how a customer verified that a KVP passbook is original or fake by online service
Dear Soumitra,
If you are downloading it online, then what more verification is required?
Sir I purchased nsc and I get passbook sir at the time of maturity I have to submit my passbook then they give me my passbook? Or not
Dear Rahul,
Yes, you have to submit the passbook.