How To Apply For NSC And KVP In E-mode?

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The most popular savings instrument with risk averse or conservative investors of KVP or NSC are no more being issued as pre-printed certificates. The process has ceased in totality wef July 2016 and now the government has adopted two new modes for its recording.

How To Apply For NSC And KVP In E-mode?

1. E-mode or electronic mode
2. Passbook mode
And now investor on his preference as well as convenience can go for either of the modes, with some limitation and requirements to be complied with in each case
For getting your NSC or KVP issued in E-mode, you need to follow the following guidelines:
1. First and foremost you need to have a savings bank with the bank or post office from which you wish to buy the investment instrument.
2. Then access to internet banking is also a pre-requisite
3. And in case you do not maintain the account you need to both open the account as well as get the net banking facility also activated.
4. Thereafter the NSC or KVPs can be maintained in e-mode or electronic mode.
For passbook mode, you need not have the net banking facility or a savings account with the KVP or NSC issuing institution instead your transactions per se the account shall be documented in a passbook similar to a bank passbook.
There can also be an instance of switching from the passbook mode to e-mode, in that case the previously issued passbook shall be cancelled with all its leafs torn. Also, the pledging of the passbook mode of the two instruments has come into force long back since July last year.

Read more about: passbook, kvp
Story first published: Tuesday, September 12, 2017, 14:19 [IST]
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