Post office savings scheme: How to open a National Savings Certificate account? A step-by-step guide

National Savings Certificate (NSC) is one of the post office saving scheme that offers interest rates of 7.7 percent compounded annually. To be able to invest in this scheme, one must make a minimum investment of Rs 1,000 and in the multiples of Rs 100, while there is no maximum limit of investment.

A single adult can open the account while a joint account can be opened by up to 3 adults. The account matures on completion of five years from the date of the deposit. However, one can go for premature closure before five years in one of the following cases:

1. On the death of a single account, or any or all the account holders in a joint account.

2. On forfeiture by a pledgee being a Gazetted officer.

3. On order by court.

First activate your DOP internet banking

To be able to avail Department of Posts (DOP) internet banking, one should have a valid active single or joint B savings account standing at CBS enabled brach post office. Then, one must also give KYC documents, unique mobile number, email id and PAN.

Then one must visit the home branch, fill the pre-printed application form and submit with required documents.

Later, the DOP internet banking service will be ready for activation from the next working day of registration of the request.

To be able to open a National Savings certificate account online, one must follow these steps: Although one can fill the physical form, one can opt for e-banking of India Post.

1. First and foremost, one must enter user ID and verification. Customer ID is the 9-digit CIF ID printed on the first page of your passbook.

2. Then one can enter the service request given under new requests.

3. Moving on, one has to click on NSC account to be able to open an NSC account. For KVP account, one must open a KVP account.

4. Now one has to enter amount for which NSC is to be opened. The minimum amount is Rs 1,000 and in multiples of Rs 100.

5. Then one must select the bank account linked to post office saving account.

6. Finally, one must submit the form after accepting the terms and conditions.