Modified on : 6 May, 2018

Kisan Vikas Patras (KVPs) 2014

Salient features of New KVPs (Kisan Vikas Patras) are as under:

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EligibilityAny adult individual singly or two adults jointly.

A guardian on behalf of a minor.

Minimum amount₹ 1,000/-. The Kisan vikas Patras are available in denominations of ₹ 1000, 5000, 10,000 and 50,000. Currently, KVPs are available in Post Offices. It is proposed to make it available also at banks.
Maximum amountNo maximum limit
Minimum Lock-in Period2 years 6 months
Maturity period 8 years 4 months (100 months) for KVPs issued w.e.f. 16.11.2014 to 31.03.2016

9 years 2 months (110 months) for KVPs issued w.e.f. 01.04.2016 to 30.06.2016.

9 years 4 months (112 months) for KVPs issued w.e.f. 01.10.2016 to 30.03.2017.

9 years 5 months (113 months) for KVPs issued w.e.f. 01.04.2017 to 30.06.2017.

9 years 7 months (115 months) for KVPs issued w.e.f. 01.07.2017 to 31.12.2017.

9 years 10 months (118 months) for KVPs issued 01.01.2018 onwards.

Interest Rate
PeriodInterest Rate
16.11.2014 to 31.03.20168.70% per annum. Amount doubles in 100 months.
01.04.2016 to 30.09.20167.80% per annum. Amount doubles in 110 months.
01.10.2016 to 31.03.20177.70% per annum. Amount doubles in 112 months.
01.04.2017 to 30.06.20177.60% per annum. Amount doubles in 113 months.
01.07.2017 to 31.12.20177.50% per annum. Amount doubles in 115 months.
01.01.2018 onwards7.30% per annum. Amount doubles in 118 months.
Type of Certificates
  1. Single holder type Certificates are issued to an adult for himself or on behalf of a minor or to a minor.
  2. Joint 'A' type Certificates are issued jointly to two adults payable to both holders jointly or to the survivor.
  3. Joint 'B' type Certificates are issued jointly to two adults payable to either of the holders or to the survivor.
Purchase of CertificatesAny eligible person or persons can purchase KVPs by submitting an application on Form A either in person or through an authorised agent of the small savings schemes at a Post Office or Bank.
Nomination facilityAvailable
Transferability KVPs may be transferred from a Post Office or Bank at which it stands registered, to any other Post Office or Bank to the holder or holders making an application in Form B either at Post Office or Bank.

KVPs may be transferred from one person to another with the consent in writing to an officer of the Post Office or Bank as specified in the Table below (hereinafter referred to in these rules as authorised Post Master or Bank Officer)

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.

EncashmentKVPs 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 or bank is satisfied on verification from the

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

Premature EncashmentFacility for premature encashment available after 2 years 6 months.

For amount payable on premature encashment please Click Here.

Post maturity interestWhere repayment of the amount, inclusive of interest, under the rule 16 has become due but has not been made, interest shall be allowed on the amount due on the date of repayment of the amount subject to the following conditions, namely :
  1. the interest shall be simple and shall be calculated at the rate applicable from time to time to Post Office Savings Accounts of the type of single or joint account.
  2. for the purpose of payment of interest, any part of the period which is less than one month shall be ignored.
  3. the interest shall be paid to the depositor in lump sum at the time of repayment of the amount due.
Deduction under section 80CNot available
Interest TaxabilityTaxable
Other features
  • Loans can be availed from banks on pledge of KVPs.
  • 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.

    Provided that where such application is made with respect to a Certificate mutilated or defaced, a duplicate Certificate may be issued without any such indemnity bond, surety or guarantee, if the Certificate mutilated or defaced is surrendered and the Certificate is capable of being identified as the one originally issued.

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