Savings

How to obtain a duplicate National Savings Bond or NSC?

The National Savings Certificate (NSC) is a preferred savings vehicle in India. The plan, which is government-backed, offers its subscribers assured returns at a fixed interest rate of 6.80% compounded annually but payable at maturity (effective April 1, 2020). NSC is one of the most popular plans and is the choice of a multitude of subscribers who wish to preserve their savings for long-term goals and seek to have a smooth and comfortable retirement.
The depositor receives a certificate with all the mentioned details about the investment along with other relevant information upon registering with the NSC. This certificate is considered an important document that must be produced when the plan matures. In addition, the National Savings Certificate cannot be closed prematurely before the 5-year term except under the conditions below:
(I) In the event of the death of a single account, or of all or part of the holders of a joint account.
(ii) In the event of confiscation by a pledgee being an officer of the Gazette.
(iii) Court order.
In the event of loss, destruction, theft or damage to the original certificate, the depositor has the right to request a duplicate certificate. The individual can request a duplicate certificate from the post office where the certificate is registered or from any other post office.
What are the forms and documents required to obtain a Duplicate NSC?
1. Form – NC29 i.e. Duplicate NSC Application Form.
2. NSC account statement with other details.
3. Form NC-54(a), a bond certificate.
4. Form NC-54 (b), a bond certificate with a bank guarantee.
5. Form NC-61, a bond certificate to submit in case the original application is missing.
6. Copy of the FIR if the original NSC has been lost or moved.
seven. Identity documents such as driver’s license, passport or salary certificate.
8. Receipt of payment for duplicate NSC.
What is the process for requesting a duplicate NSC?
Below are the simple steps you can follow to apply for the NSC;
Not:
  1. Step 1:
    Complete the application form and drop it off at your nearest post office. If the nearest post office branch is not the branch where the original certificate was issued, your application will be forwarded to the original branch by your nearest branch itself.
  2. 2nd step:
    The application form should be submitted with a statement mentioning information such as name, amount, account number and date of issue along with the reason for the double NSC.
  3. Step 3:
    After the application and declaration are submitted, your application will be processed by the post office manager. You must also present a bond with one or more sureties or bank guarantee.
  4. Step 4:
    The guarantee is not required in the event of degraded or mutilated certificates.
  5. Step 5:
    You also have to pay a fee of Rs 10 for the NSC to be reissued in booklet form.