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Kisan Vikas Patras (KVPs)

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Kisan Vikas Patras (KVPs) are a safe long term investment option.
No fresh KVPs will be issued w.e.f. 1st December 2011

Salient features of KVPs

ItemDescription
EligibilityAny adult individual singly or two adults jointly.

A guardian on behalf of a minor.

Minimum amountAvailable in denominations of Rs. 100/-, Rs. 500/-, Rs. 1000/-, Rs. 5000/-, Rs. 10,000/-, in all Post Offices and Rs. 50,000/- in all Head Post Offices.
Maximum amountNo maximum limit
Maturity period 8 years & 7 months.
Interest Rate8.40 per cent per annum compounded yearly.

Money doubles in 8 years 7 months.

Nomination facilityAvailable
TransferabilityTransferable from one Post Office to another.

KVPs can also be transferred from one person to another.

On an application being made in the prescribed Form by the transferor and transferee, the Postmaster may permit the transfer of any certificate (pledging of certificate) as a security.

Transfer of the KVPs purchased on behalf of minor is permitted only if his guardian certifies that the minor is alive and the transfer is for the benefit of the minor.

Encashment KVPs can be encashed at the Post Office of its issue. These can also be encashed at any other Post Office if the Officer-in-Charge of that Post Office is satisfied with the production of Identity Slip or on verification from the

Post Office of issue that the person presenting the certificate for encashment, is entitled thereto.

Premature Encashment

Facility for premature encashment as per the table given below (for the KVP purchased on or after 1st March 2003). Maturity value for Rs. 1,000/- denomination

AfterAmount Payable
2 years 6 months or more but less than 3 years1170.51
3 years more but less than 3 years 6 months1207.95
3 years 6 months or more but less than 4 years 1267.19
4 years or more but less than 4 years 6 months1310.80
4 years 6 months or more but less than 5 years1355.90
5 years or more but less than 5 years 6 months1435.63
5 years 6 months or more but less than 6 years1488.49
6 years or more but less than 6 years 6 months1543.30
6 years 6 months or more but less than 7 years1649.13
7 years or more but less than 7 years 6 months1713.82
7 years 6 months or more but less than 8 years1781.06
8 years or more but less than 8 years 7 months1850.93
Tax benefitsNot available
Interest TaxabilityTaxable

No tax deduction at source.

Other features
  • Deposits are exempt from Wealth tax.
  • Loans can be availed from banks on pledge of KVPs.
  • KVPs are available in denominations of Rs.100/-, Rs.500/-, Rs.1000/-, Rs.5,000/-, Rs.10,000/- and Rs. 50,000/-
  • KVPs can be purchased in Demat Form from select Post Offices.
  • If a KVP is lost, stolen, destroyed, mutilated or defaced, application may be made showing particulars of the KVP with circumstances attending such loss, theft, destruction, mutilation or defacement for issue of duplicate KVP to the Post Office where the KVP is registered. If the Officer-In-Charge is satisfied, he shall issue a duplicate KVP on the applicant furnishing an indemnity bond in the prescribed form with sureties or with a bank's guarantee.
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