Kisan Vikas Patra: You all know that the government keeps on launching various schemes to promote the habit of saving towards the citizens of the country. One such scheme is the Kisan Vikas Patra Yojana. To take advantage of this scheme, gender term investment has to be made. This scheme has been started for those people who do not want to take risks. Today we are going to provide you all the important information related to Kisan Vikas Patra through this article.
Like what is the Ko Kisan Vikas Patra Yojana? its purpose, features, benefits, application process, etc. So, if you want to get all the important information related to this scheme, then you are requested to read this article of ours till the end.
Kisan Vikas Patra Yojana 2021
This scheme is a type of savings scheme. Which doubles the investment amount after the investment period. Under this scheme, you can apply in the bank or in the post office. In this scheme, the investor has to invest for 10 years and 4 months (124 months) and after 124 months you will get double the money. It is not necessary that only farmers should apply under this scheme.
Any citizen of India can apply under this scheme. For KVP Yojana 2021 will have to buy a KVP certificate. Whose minimum investment is ₹1000. There is no upper limit for this investment. You can invest as much as you want. Just keep in mind that if you invest more than 50,000 then you will have to provide your PAN card details.
Kisan Vikas Patra Scheme Interest, Return and Withdrawal
The current interest rate under Kisan Vikas Patra Yojana 2021 is 6.9%. After 124 months it will be provided to you by doubling the investment amount at the rate of 6.9%. With this, the investor can make a premature withdrawal from the KVP scheme. But if the investor has withdrawn the certificate within 1 year of purchase then interest will not be provided. But if the withdrawal is made after 1 year of purchase of the certificate, then the penalty will not have to be paid but the rate of interest will be less.
If the investor has made a withdrawal after two and a half years, he will be provided interest at an interest rate of 6.9% and will not have to pay any penalty.
Kisan Vikas Patra Scheme 2021 Highlights
|Scheme Name||Kisan Vikas Patra (KVP)|
|Objectives||To encourage the spirit of savings towards the countrymen.|
|Investment Period||124 Months|
|Minimum Investment Amount||1000 Rs|
|Rate of Interest||6.9%|
Kisan Vikas Patra Certificate
Kisan Vikas Patra is made available by the government through the post office. This certificate can be purchased through cash, cheque, pay order or demand draft. There are three types of Kisan Vikas Patra which are Single Holder Type KVP Certificate, Joint A Type Kisan Patra Certificate and Joint B Type KVP Certificate.
Single Holder Kisan Vikas Patra Certificate
This certificate is given by the government to an individual on behalf of a minor or not a girl child.
Joint A Type Kisan Vikas Patra Certificate
This certificate is issued jointly to two adult persons. This certificate is jointly payable to both the holders.
Joint B Type Kisan Vikas Patra Certificate
This certificate is issued jointly to two adult persons. It is payable to one of the joint account holders.
Kisan Vikas Patra Interest Rate
The maturity period under Kisan Vikas Patra is 10 years 4 months. In this time, the principal amount of Kisan Vikas Patra gets doubled. From January 1, 2021, the interest rate of KVP will be 6.9%. Beneficiaries can withdraw money from this account in certain conditions before maturity. The minimum investment limit in this account is ₹1000.
There is no investment maximum limit for Kisan Vikas Patra account. KVP Certificate is sold by the Central Government in denominations of ₹ 1000, ₹ 5000, ₹ 10000 and ₹ 50000. This amount can be received after maturity from the post office.
This amount can be obtained from any post office. The beneficiary has to show his identity slip to the post office to receive the amount. But if the beneficiary does not have the identity slip, then he can redeem the amount only from the post office from where he has taken the KVP certificate.
Objective of Kisan Vikas Patra Yojana 2021
The main objective of this scheme is to encourage the spirit of savings among the citizens of the country. The investment amount will be doubled through this scheme. This will motivate more and more people to invest under this scheme and save. Under KVP Yojana 2021, one has to apply for 124 months and 6.9% interest will be provided on the investment. The economic condition of the people will also be better through this scheme.
Kisan Vikas Patra Transfer
Kisan Vikas Patra can be transferred from one person to another only under the following conditions.
- In case of death of account holder
- In case of death of joint holder
- when ordered by the court
Rules for withdrawing Kisan Vikas Patra
Kisan Vikas Patra can be closed prematurely at any time. This decision will be taken only in certain circumstances. The status of withdrawing KVP is as follows.
- In case of death of any or all the account holders
- on court order
- 2 years 6 months after the date of submission
Benefits and Features of Kisan Vikas Patra Yojana 2021
- Kisan Vikas Patra Yojana is a type of savings scheme. Under which the investor can double his investment by investing.
- To double the investment, the investor has to stay invested for at least 124 months.
- The minimum investment amount under this scheme is ₹ 1000.
- If the investor wants to invest Rs 50000 or more, then he has to submit his PAN card details.
- Application under this scheme can be made from post office or bank account.
- KVP Yojana 2021 can be transferred from one post office to another post office or from one bank account to another bank account.
- KVP form can be filled in cheque or cash.
- On submitting the KVP form, a Kisan Vikas Certificate will be provided containing the maturity date, name of the beneficiary and maturity amount.
- The interest rate under this scheme is 6.9 percent.
Eligibility of Kisan Vikas Patra Scheme
- To apply under this scheme, the applicant must be a permanent resident of India.
- Applicant’s age should be more than 18 years.
- If the applicant is a minor then his parents can invest in this scheme.
Important Documents of KVP Yojana 2021
- Aadhar card
- Address proof
- kvp application form
- age certificate
- passport size photograph
- mobile number
Process to apply online in Kisan Vikas Patra Scheme
- First of all, you have to go to the official website of that bank or post office from where you have to buy this scheme.
- Now the home page will open in front of you.
- On the home page, you have to click on the link of Investment Plan.
- Now you have to click on the link of Kisan Vikas Patra Yojana.
- After this the application form will open in front of you.
- You have to enter all the important information asked in this application form.
- Now you have to attach all the important documents.
- After that you have to click on submit button.
- In this way you will be able to apply under KVP Yojana 2021.
Process to apply offline under Kisan Vikas Patra Scheme
- First of all you have to go to your nearest post office or bank.
- Now you have to take the application form of Kisan Vikas Patra Yojana from there.
- You have to enter all the information asked in this application form.
- After this you have to attach all the important documents.
- Now you have to submit this application form in the same bank or post office.
- In this way you will be able to apply under KVP Scheme.