Hi, I had purchased a kissan vikas patra for the amount of Rs.50,000/- in April' 2007. Now I am in need of money, so I have a query - Can I prematurely close it Now? If yes, what is the procedure for the same?
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Hi, I had purchased a kissan vikas patra for the amount of Rs.50,000/- in April' 2007. Now I am in need of money, so I have a query - Can I prematurely close it Now? If yes, what is the procedure for the same?
Premature encashment is not possible in your case.
Premature encashment of the certificate is permissible at discount, only in case of death of the holder(s), surrendered as a penalty by a pledgee and when ordered by a court of law.
But, I have seen lots of ad in newspaper that you can sell your KVP, NSC etc and they will give you the cash. How they operate?
Just to add to this - It is possible after the expiry of three years from the date of purchase of certificate.Quote:
Originally Posted by Natraj
You can take a loan against the NSC by pledging it to the RBI or a scheduled bank or a co-operative society, a corporation or a government company, a housing finance company approved by the National Housing Bank etc with the permission of the concerned post master.