Kisan Vikas Patra (KVP) at India Post branches has been an old and safe medium of investment. At present, the Kisan Vikas Patra receives interest at the rate of 7.6 per cent on investment. The interest rates applicable to small savings schemes like Kisan Vikas Patra are currently reviewed by the Ministry of Finance on a quarterly basis. The Finance Ministry has maintained the current level of interest for the quarter ending March 31. The Kisan Vikas Patra Scheme is part of nine government-run small savings schemes like the Post Office Monthly Income Scheme (POMIS).
There are some important things to know about Kisan Vikas Patra (KVP) which is important to know before investment
How much return do you get?
For the fourth quarter of the current fiscal, investment in Kisan Vikas Yojana is available at the rate of 7.6 per cent. For example, the amount invested in kvp certificates is doubled over a period of 113 months (nine years and five months).
Investment Limits
To open an account under kvp scheme, a minimum investment of Rs 1,000 has to be made as per the India Post website indiapost.gov.in. Any higher amount can be invested in more than Rs 100. There is no upper limit for investment in Kisan Vikas Yojana.
From where to buy KVP?
Kisan Vikas Patra (KVP) can be purchased from any departmental post office. As per the India Post website, enrolment facility is available for investment in KVP certificates.
How does it work?
Kisan Vikas Patra (KVP) can be transferred from one person to another after purchase, and you can also transfer from one post office to another. You can invest for yourself or by the name of any minor or adult.
When to withdraw money
You can receive payment of the amount invested in KVP certificates after a period of two and a half years from the date of purchase.
Also read Government Rolls Out Tax Benefits: Extends Return Deadline, Reduces TDS By 25%
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com
