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Check with the Post of Office whether they issue the credit in demat mode, as only select post offices in Mumbai are issuing the same. |
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Investors will be able to submit the forms either directly to post offices or through agents, as at present. |
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NSC and KVP can be held by individuals. Further, Joint holders only upto two are allowed. |
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NSDL as well as DPs will not charge any custody fee for holding NSC/KVP. |
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Investors can pledge NSC/KVP, as per the rules of the DoP. |
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On redemption, the investor may not be required to go to the issuing post office as the redemption amount may directly be credited into the investor's bank account or a warrant can be directly sent to the investor. For this purpose, it is necessary for the investor to mention his bank account details in the application form. |
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Investors can hold NSC/KVP in their existing demat account. This would enable the investors to consolidate different types of investments in a single demat account. Multiple investments in these securities will also get reflected in a single account statement. |
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Risk associated with holding physical certificate will be eliminated. |
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On redemption, the investor need not go to the post office. The investor's bank account will be credited directly or he will receive a warrant at his residence. |
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As of now, dematerialisation of existing KVP / NSC certificates is not available.
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