Kishan Bikash Patra

 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
    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
    • 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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