Post Office KVP Scheme 2023: Kisan Vikas Patra is a scheme in which money is doubled in 10 years! Kisan Vikas Patra is said to offer investors flexibility with good returns. Kisan Vikas Patra (KVP Scheme) is a very popular scheme giving double money in 124 months! It is easy to invest in and also gives good returns!
Kisan Vikas Patra is a savings scheme available in the form of certificate in Indian Post Offices. It is a fixed rate small savings scheme that is designed to double your investment after a predetermined period!
Post Office KVP Scheme 2023
This scheme (Kisan vikas patra) has been made to encourage long term investment and savings among the public. It is suitable for investors who are risk averse, have surplus funds and are looking for assured returns! The work of regulating all the policies through this scheme is done by the Post Office and the Reserve Bank of India.
Apart from this, Post Office Kisan Vikas Patra Yojana (Post Office KVP Scheme) is a long term scheme and its maturity period has also been stated as 124 months! Post Office KVP Scheme 2023
Benefits of investing in Kisan Vikas Patra : Post Office KVP – Scheme
At present 6.9% interest is being given in this scheme. 1000 can be invested in this scheme (Kisan vikas patra) and there is no limit to invest! Single or joint account can be opened if you are 18 years or more. After investing,
you will not be able to withdraw money from this account for at least two and a half years. Income tax exemption is also available in the scheme of Kisan Vikas Patra (Post Office KVP Scheme)! Post Office KVP Scheme 2023
Know the special rules of Kisan Vikas Patra
Kisan Vikas Patra (Kisan vikas Patra) certificate can be bought by an adult for himself and two adults for a minor! Apart from this, they can also be transferred from one person to another and from one post office to another. They can be redeemed after two and a half years of purchase of KVP.
Eligibility for Kisan Vikas Patra (KVP) Scheme
Following are the eligibility conditions for investing in Kisan Vikas Patra KVP:
Any Indian resident of 18 years and above is eligible to invest in this scheme (Kisan vikas Patra)! Parents or guardians can invest in this scheme (Post Office KVP Scheme) on behalf of a minor or a person of unsound mind! NRI (Non Resident Indian) and HUF (Hindu Undivided Family) are not eligible to invest in this scheme.
Types of Kisan Vikas Patra Accounts : Post Office KVP – Scheme
Mainly 3 types of accounts can be opened for investment in Kisan Vikas Patra! it:
Single Account: This type of account (KVP Account) is issued to an adult person for himself or on behalf of a minor.
Joint A Account: This type of KVP account can be opened jointly with a maximum of 3 adults. All the joint holders in this account are entitled to receive the amount on maturity of the scheme.
Joint B Account: This type of KVP account can be opened jointly with maximum 3 adults. But only one holder or survivor will get the amount on maturity.
How to transfer kvp online
Kisan Vikas Patra (Kisan Vikas Patra) account from one post office branch to another post office branch and even! Can be transferred from a post office branch to an individual’s account at a registered bank branch! And vice versa! Transfer from one post office branch to another post office branch! One can place a transfer request at their bank or post office branch by filling in the required details in Form B. Along with the form, the following documents are also required.
Filled Form B Identity document like Aadhaar Card, Driving License, Voter ID, Passport, or any other identity document. Residence Proof Document like Aadhaar Card, Driving License, Voter ID Card, Passport, Telephone Bill, or any other residence proof document. Original Kisan Vikas Patra Certificate! Pan Card !
Kisan vikas patra can be transferred
Post Office scheme is one AC scheme! Which can also be easily transferred! It is transferred on certain conditions. On the death of the account holder, the Kisan Vikas Patra is transferred to the nominee. Since joint account holders can also buy it!
In such a situation, on the death of one account holder, the name of the other gets transferred. This transfer happens even after the order of the court. Kisan Vikas Patra Yojana (Kisan vikas Patra) can also be transferred from one post office to another post office!