|Eligibility||Any 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 amount||No maximum limit|
|Minimum Lock-in Period||2 years 6 months|
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.
|Type of Certificates|
|Purchase of Certificates||Any 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.|
|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.
|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 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 Encashment||Facility for premature encashment available after 2 years 6 months.
For amount payable on premature encashment please Click Here.
|Post maturity interest||Where 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 :|
|Deduction under section 80C||Not available|
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