Kisan Vikas Patra (KVP) :- Eligibility, Benefits, How to invest, Interest Rates and Returns

Kisan Vikas Patra (KVP) is a popular investment scheme in India that offers secure and attractive returns to investors. In this blog, we will delve into the details of Kisan Vikas Patra, its benefits, and how you can leverage it to secure your financial future.

What is Kisan Vikas Patra?

Kisan Vikas Patra is a government-backed savings scheme that doubles your investment in a fixed period. It is a low-risk investment option that guarantees returns and is ideal for individuals looking for secure long-term investments.

Eligibility for Kisan Vikas Patra:-

To be eligible for the Kisan Vikas Patra (KVP) scheme, individuals need to meet certain criteria as outlined below:

1. Age Requirement: Applicants must be adults and Indian residents above 18 years of age.

2. Documentation: Necessary documents such as identification proof (Aadhaar Card, PAN Card, Passport, Voter ID, Driving License), Form A, and Form A1 need to be submitted at designated post offices or banks.

3. Investment Limit: The minimum initial deposit to open a KVP account is Rs. 1,000, with investments allowed in multiples of Rs. 100.

4. Types of Accounts: KVP offers three types of accounts - Joint A Type, Single Holder Type, and Joint B Type, each with specific payout conditions.

5. Restrictions: Hindu Undivided Families (HUFs) and Non-Resident Indians (NRIs) are not eligible to invest in KVP.

Benefits of Kisan Vikas Patra:-

1. Guaranteed Returns: KVP offers fixed returns and doubles your investment in a specified period.

2. Low Risk: Being a government-backed scheme, KVP is considered a safe investment option.

3. Flexible Investment: Investors can choose the amount to invest based on their financial goals.

How to Invest in Kisan Vikas Patra:-

To invest in Kisan Vikas Patra (KVP) , you can follow these guidelines:

Offline Investment Process:-

1. Visit the Post Office: Obtain the KVP application form (Form-A) from the post office.

   

2. Fill Out the Form: Provide the necessary details on the form and submit it.

   

3. For Agent Assistance: If investing through an agent, fill out Form-A1 and submit it.

   

4. KYC Documentation: Submit a copy of any valid identification proof for KYC verification.

   

5. Deposit and Verification: Complete the required deposit and document verification process.

   

6. Receive KVP Certificate: Upon verification, the KVP certificate will be issued either physically or via email.

Online Investment Process:-

1. Log In: Access your DOP internet banking account.

   

2. Service Requests: Under "General Services," click on "Service Requests" and select "New Requests."

   

3. Open KVP Account: Choose "KVP Account" to open a new KVP account online.

   

4. Minimum Deposit: Enter the minimum deposit amount and select your linked debit account.

   

5. Agree to Terms: Read and agree to the terms and conditions before submitting the application online.

   

6. Transaction Confirmation: Enter your transaction password and click "Submit" to view/download your deposit receipt.

Documents Required:

- Form A for application submission at post offices or banks.

- Form A1 for agent-assisted applications.

- Valid identification documents like Aadhaar Card, PAN Card, Passport, Voter ID, or Driving License for KYC verification.

By following these steps and ensuring you have the necessary documentation, you can successfully invest in Kisan Vikas Patra either offline through post offices or online via internet banking services provided by designated banks.

Interest Rates and Returns:- 

current interest rate for Kisan Vikas Patra (KVP) is 7.5% compounded annually. This rate was increased from 7.2% to 7.5% for the financial year 2023-24[1][4]. The maturity period for KVP is 113 months, and investors can open an account with a minimum initial deposit of Rs. 1,000, with investments allowed in multiples of Rs. 100.

Key Information on Kisan Vikas Patra Interest Rate and Returns:

- Interest Rate: 7.5% compounded annually.

- Maturity Period: 113 months.

- Minimum Investment: Rs. 1,000 with multiples of Rs. 100 thereafter.

- Tax Benefits: Investors can avail tax benefits up to Rs. 1.5 lakh under Section 80C of the Income Tax Act, 1961.

For further details or to confirm the latest interest rates and returns, it is advisable to visit the official websites of India Post or designated banks offering Kisan Vikas Patra, as interest rates are subject to change based on government notifications and policies.

KVP Helpline Number

Customer Care Toll Free Number 1800 266 6868

Call centre agent- 09.00 am to 06.00 pm (except Sunday and gazetted holidays)

IVR facility- 24 x 7 

Conclusion

Kisan Vikas Patra is a reliable investment option for individuals seeking secure and guaranteed returns on their investments. By understanding the benefits of KVP and how to invest in it, you can make informed decisions to secure your financial future. Explore the world of Kisan Vikas Patra and unlock growth opportunities for your investments today!