Kisan Vikas Patra Invest And Double Your Money

Kisan Vikas Patra

Kisan Vikas Patra (KVP) is a saving certificate scheme offered by the Government of India, primarily aimed at farmers and people from rural areas. It is a popular investment option, especially for those who have low-risk appetite and want to invest for a longer duration.

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Under the KVP scheme, investors can invest a minimum of Rs.1000 and in multiples of Rs.1000 thereafter.

One of the significant advantages of the KVP scheme is that it provides assured returns. The interest rate is fixed and is not subject to market fluctuations, making it an ideal investment option for risk averse investors. Additionally, the scheme is backed by the Government of India, which makes it a safe and secure investment option.

Another key feature of the Kisan Vikas Patra scheme is that it is transferable. Investors can transfer their KVP certificates from one person to another or from one post office to another. However, the transfer can only be made once during the maturity period.

Finally the Kisan Vikas Patra scheme is an excellent investment option for those who have a low risk appetite and want to invest for a more extended period. It provides assured returns and is backed by the Government of India, making it a safe and secure investment option. Additionally, the scheme is easy to invest in and transferable, adding to its convenience factor.

Kisan Vikas Patra Interest Rate

The scheme has a maturity period of 115 months (9 years and 7 months), and the interest rate is fixed at 7.5% per annum (with effect from Financial Year April 2023).The interest earned on the investment is compounded annually and is payable on maturity.

Kisan Vikas Patra Invest and Double Your Money

Kisan Vikas Patra interest rate 2022

Kisan Vikas Patra interest rate will keep on changing every quarter of a year.

Current interest rates of Kisan Vikas Patra for Financial year 2023-24 of first quarter i.e. April 23 to June 23 is 7.5% per annum.

Kisan Vikas Patra calculator

To find the Calculator for Kisan Vikas Patra please click here

Kisan Vikas Patra scheme

The Kisan Vikas Patra scheme was launched in 1988 and was later discontinued in 2011, owing to concerns related to money laundering and tax evasion. However, the scheme was relaunched in 2014, with several new features that made it more secure and transparent.

Under the KVP scheme, an individual can invest a minimum amount of Rs.1,000 with no maximum limit. The investment matures after a fixed period, which is currently set at 100 months or 8 years and 4 months. The interest rate offered on KVP investments is fixed by the government from time to time and is currently set at 7.5% per annum (as of April 2023).

The KVP scheme is popular among investors who prefer a safe and guaranteed return on their investment, as the scheme is backed by the Government of India. The scheme is also easy to invest in, as it can be purchased from any post office across the country, and there is no requirement of a PAN card or any other document for investment up to Rs.50,000.

Kisan Vikas Patra Post office / Banks

You can invest in this scheme, please visit Post office or Leading banks.

To invest in the Kisan Vikas Patra scheme, an investor needs to visit the nearest post office/banks and fill out the application form. The investor also needs to provide KYC documents, such as PAN card, Aadhaar card, and passport size photographs. Once the documents are verified, the investor can make the investment, and a KVP certificate will be issued.

Kisan Vikas Patra online

Post office / Banks

Go to the India Post office website or login to bank website
Select Kisan Vikas Patra and download the Kisan Vikas Patra Form A.
Fill all your personal details.
Mention the amount to be invest, payment mode and select the type of certificate you want.
Fill the nomination details and submit them to the bank/post office along with required documents.
After documents verification, you should deposit the money. The payment can be made by cash, cheque, pay order, or demand draft drawn in the favor of the post office/Bank.
You will get a KVP certificate after amount credit. Keep this safe because you need this KVP at the time of maturity.

FAQ:

Does KVP double money? / How many years will KVP account double in 2023?

Ans: yes investing in KVP Your invested money will be doubled in 9 years 7 months as per latest interest rate 7.5% (as of April 2023)

2. Is it worth investing in Kisan Vikas Patra?

Ans: Yes it is worth to invest in Kisan Vikas Patra because this scheme is backed by Government of India with fixed rate of interest so risk is less.

3. Can I withdraw KVP after 3 years?

Ans: To obtain a KVP, you simply need to submit a written letter to the relevant post office/ Bank and provide your identification proof. Additionally, if you want to withdraw your investment before the maturity period, you can only do so after a waiting period of 2 years and 6 months.

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Disclaimer: This article is only for information and knowledge purposes there is no any advice to purchase or investment.

Kisan Vikas Patra Invest and Double Your Money