DOP net banking now allows users to open, close NSC, KVP accounts online; here's how

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

The Department of Posts (DOP) issued a notification announcing the addition of online account opening and closure for National Savings Certificates (NSC) and Kisan Vikas Patra (KVP) in DOP Internet Banking on August 18. This special announcement was made to mark the 'Azadi ka Amrit Mahotsav.'

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

Kisan Vikas Patra, or KVP, is a DOP savings scheme. The compounded annual interest rate for September 30, 2022, is 6.9 per cent. An account matures after nine years and five months from the date of deposit.

National Savings Certificates are savings bonds India Post offers through its small savings schemes. An NSC can be opened by an adult, a minor, or a trust. The NSC interest rate is 6.8 per cent compounded annually as of September 30, 2022. The account will mature five years after the deposit date.

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

Here's how to open the NSC/KVP online:

1) Log in to the DOP internet banking

2) Under 'General Services', go to 'Service Requests' and then 'New Requests'

3) Click on NSC/KVP Account, then open an NSC, KVP account 

4) Key in the amount you wish to save (minimum Rs 1000 and multiple < 100).

5) Choose the Debit Account linked to PO Saving Account

6)Click on 'Click Here', go through the terms and conditions and then accept

7) Submit the form and enter the password and submit

8) Login again to review the details of the account 

Here's how to close the NSC/KVP online:

1) Log in to the DOP internet banking

2) Go to 'General Services,' then 'Service Requests,' and finally 'New Requests'

3) Choose the closure of the NSC/KVP Account 

4) Select the NSC/ KVP account to be closed and the account to be credited that is linked to the PO Savings Account

5) Now submit it online and enter the transaction password and submit