Kisan Vikas Patra Account
Kisan Vikas Patra (KVP )Interest payable, Rates, Periodicity etc. | Minimum Amount for opening of account and maximum balance that can be retained |
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From 01.04.2020, interest rates are as follows:-- 6.9 % compounded annually
- Amount Invested doubles in 124 months (10 years & 4 months)
| Minimum of Rs. 1000/- and in multiples of Rs. 100/- No Maximum Limit. |
Salient features |
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- Certificate can be purchased by
(i) a single adult (ii) Joint A Account (Maximum 3 adults) (ii) Joint B Account (Maximum 3 adults) (iv) Minor above 10 years of age (i) An adult on behalf of a minor. (ii) A guardian on behalf of a person of unsound mind - KVP will be issued in the shape of Passbook w.e.f. 01.07.2016
- KVP can be purchased from any Departmental Post office
- Facility of nomination is available
- Certificate can be transferred from one person to another and from one post office to another.
- Certificate can be encashed after 2 & 1/2 years from the date of issue
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