Government schemeOnly 1000 rupees Can start Investment 2020
Kisan Vikas Patra (KVP) is one of the government-sponsored savings schemes, where double the amount is guaranteed. With the support of the government, there is no risk and your investment is completely safe. This plan is better for those investors who are thinking of making long term investments. Kisan Vikas Patra is present in all the post offices and big banks of the country. Its maturity period is still 124 months. The minimum investment is Rs. There is no maximum investment limit
◆ Certificate up to 50 thousand rupees
KVP has certificates up to Rs.1000, Rs.5000, Rs.10,000 and Rs.50,000 which can be purchased
◆ Types of Kisan Vikas Patra
Single Holder Certificate: For an adult or a minor
Joint A: For two adults as a joint. This benefits both the individual and the person surviving to maturity.
Joint B: Joint for two adults. It is paid to either one person or to a person who survives to maturity
◆ Interest rate and maturity
The interest rate on Kisan Vikas Patra account is currently 6.9 per cent per annum. The plan guarantees to double the money. It will take 124 months to double your investment at current interest rates. That is, its maturity period is now 124 months. In the last March quarter, the interest rate was 7.7 per cent per annum and doubled in 112 months. The interest rate was also 707 per cent in the December quarter. However, interest was 7.3 per cent in the second quarter of FY19 and it took 118 months to double the money
◆ What is required to open an account
Proof of identity, proof of address for KYC process
Aadhaar card or PAN card or voter identity card or driving license or passport are valid for this. In addition, KVP application form and Death of Birth Certificate are required
◆ How to open an account
● For this, you can open an account by going to any nearest post office and filling up the form. Apart from this the form can also be downloaded online.
● The full name, date of birth and address of the nominee should be written on the form.
● The amount of purchase amount should be clearly written in the form.
● The amount of KVP form can be paid by check or cash.
● If you are paying by check, please enter the check number information on the form.
● Specify in the form KVP Single or Joint ‘A’ or Joint ‘B’ Membership, Explain on what basis the purchase is being made.
● If it is purchased jointly, then write the names of both the beneficiaries.
● If the beneficiary is a minor, then write his date of birth (DOB), name of parents, name of guardian.
● Upon submission of the form, Kisan Vikas Certificate along with the name of the beneficiary, maturity date and maturity amount will be issued
Kisan Vikas Patra
● Works on Smart Phones
● Exclusively for the people of India and NRIs
● Indian number format
● Displays the Maturity amount in reports
● Displays "Total Amount Deposited" and "Total Interest Earned"
● Displays Yearly and Monthly growth reports
● Contains in-built information about the Schemes details
● No Internet connection is required
Kisan Vikas Patra Calculator
Kisan Vikas Patra(KVP) Calculator helps you to calculate Maturity Date, Maturity Amount, Total Deposit by just entering your details like Deposit Amount, Rate of Interest (per annum) & Date of Account Opening.