Kisan Vikas Patra Scheme
The Kisan Vikas Patra Yojana 2023 can be obtained via a post office or a bank branch. The minimum investment required under this scheme is Rs. 1,000, with no maximum investment. If an investor invests more than Rs.50,000, they must supply their PAN card information. In this article we will give you all information about Kisan Vikas Patra Scheme.
Kisan Vikas Patra Scheme 2023
Kisan Vikas Patra Scheme is an investment scheme that was established in 1988. It is a government initiative that encourages people to save tiny amounts of money for long-term investments. Despite its popularity, a government committee formed in 2011 concluded that KVP could be used for unlawful activities such as money laundering and consequently discontinued it. Kisan Vikas Patra was revived in 2014 with a few changes, including the requirement of PAN cards for deposits above 50,000. The revamped scheme also requires income verification if your investment exceeds Rs. 10 lakh.
Kisan Vikas Patra 2023 certificates are available at Post Offices throughout India. This scheme is now open to all Indian residents. A certificate can be obtained singly, jointly, or in the name of a minor. After 124 months from the date of investment, the amount invested in KVP doubles. Let us look at Kisan Vikas Patra’s interest rates, maturity periods, advantages, and more.
Details of Kisan Vikas Patra Scheme
|Scheme Name||Kisan Vikas Patra Yojana|
|Beneficiary||Citizen of India|
|launched||Government of India|
|Objective||To encourage the spirit of savings among the countrymen.|
|Maximum Investment||No Limit|
|Official Website||Click Here|
Interest Rates on Kisan Vikas Patra Scheme 2023
Kisan Vikas Patra has a maturity period of 10 years and 4 months. During this time, Kisan Vikas Patra Scheme 2023 adds a key couple. Kisan Vikas Patra’s interest rate will be 6.9% beginning January 1, 2021. Beneficiaries may withdraw funds from this benefit before to maturity if certain requirements are met. The minimum investment in this account is Rs 1,000. The Kisan Vikas Patra account holder has no maximum investment limit. The central government issues Kisan Vikas Patra emails in denominations of Rs 1000, 5000, 10000, and 50000. After reaching the age of majority, you can get this amount at the post office. This amount is available at any post office. To get the funds, the beneficiary must present his identity paper at the post office. If the beneficiary does not have the identity slip, he can only redeem the amount at the post office where he opened the Kisan Vikas Patra account.
Benefits and Features
- Kisan Vikas Patra Yojana is a savings scheme. Investing under whose terms you can double your investment.
- Have to wait 124 months to double your investment.
- This scheme requires a minimum investment of Rs 1,000.
- If a person wants to invest Rs 50000 or more, then he has to provide his PAN card information.
- After submitting the Kisan Vikas Patra form, a Kisan Vikas Patra will be issued with maturity date, beneficiary name and maturity amount.
- The interest rate of this scheme is 6.9 percent.
- Under this program the investor can withdraw at any time, however if the withdrawal is within one year, no interest will be paid and penalty will be levied.
- Kisan Vikas Patra Yojana can also be used as loan guarantee.
- The scheme accepts applications from post office or bank account.
- Kisan Vikas Patra Scheme 2023 can be seen from one post office to another post office or from one bank account to another.
- The KVP form can be filled out by check or cash.
- Age certificate
- Aadhar card
- Address proof
- Passport size photograph
- Mobile number
Types of Kisan Vikas Patra Scheme
The three types of KVP schemes are as follows:
- A single-holder certificate is one that is issued to an individual for himself or herself or on behalf of a minor.
- A Joint Certificate, This sort of Kisan Vikas Patra plan is awarded to two people at the same time and is payable to both adults or the survivor.
- This KVP scheme is likewise given jointly to two people, however, the money is due to either the owners or the survivor.
Kisan Vikas Patra Online Investment
To invest in the Kisan Vikas Patra online, follow the instructions below.
- Visit the Post Office to obtain the KVP application form (Form-A).
- Fill out the form completely and return it to the Post Office.
- If you invest in KVP through an agent, you must also complete and submit Form-A1.
- Both of these forms are available on the Post Office’s official website.
- Following the verification of your documents, your KVP certificate will be issued.
- For the KYC process, you must provide a copy of your identity proof (Aadhaar Card, Driving License, Voter ID, or PAN Card).
|Apply Link||Click Here|
|PMHelpline Homepage||Click Here|