How to Open a National Savings Certificate (NSC) Using HDFC Bank NetBanking

The National Savings Certificate (NSC) is a popular investment option in India, offering security and tax benefits. HDFC Bank NetBanking provides a convenient online platform for opening an NSC. Here's a step-by-step guide to help you:

Step 1: Log in to NetBanking

To start the process, visit the HDFC Bank homepage and input your Customer ID and Password to log in to your NetBanking account.

Step 2: Navigate to the Investment Section

Once logged in, search for the 'Investment Services' or 'Fixed Deposits and NSC' section. The exact location may vary due to periodic updates to the website.

Step 3: Select NSC

Choose the option for National Savings Certificate. In some cases, it may be under the fixed-income or government securities sections.

Step 4: Fill in Application Details

You'll need to provide essential details such as the investment amount, tenure, and your personal information. Ensure all details are accurate before proceeding.

Step 5: Verify and Confirm

Review the details you've entered. Once verified, move to the next step.

Step 6: Make Payment

Complete the payment process. The amount will be deducted from your HDFC Bank account. Ensure you have sufficient funds.

Step 7: Receive Confirmation

After successful completion of the transaction, you should receive a confirmation message or email regarding your NSC purchase.

Step 8: Collect Physical Certificate

The physical NSC certificate can be sent to your registered address or collected from your nearest HDFC Bank branch. Always check the confirmation email for specific instructions.

Things to Consider

While HDFC Bank NetBanking offers a convenient method to open an NSC, it's important to note that you can also use your post office savings account to open an NSC. Additionally, during the FY 2019/2020 budget presentation, all nationalized private banks were allowed to accept NSC deposits on behalf of clients. However, all banks currently do not offer this through NetBanking, hence, the only way to open an NSC is either to visit a post office personally or call a post office agent (a male being the sole agent for small savings).

Conclusion

Despite the convenience offered by HDFC Bank NetBanking, the physical process remains the primary method for opening an NSC in India. This ensures the security and availability of this savings option to the general public, especially those who may not have reliable Internet access.