KVP Scheme के 4 नए नियम, जो 2025 में निवेशकों को देंगे जबरदस्त फायदा!

KVP Scheme, The Indian Post Office offers a certificate program called Kisan Vikas Patra (KVP). It takes around 9.5 years (115 months) to double a one-time investment. For example, you can obtain a corpus of Rs. 10,000 after maturity by purchasing a Kisan Vikas Patra for Rs. 5,000. This article will look at this concept’s qualities and potential applications.

What is Kisan Vikas Patra?

As a modest savings certificate program, India Post launched the Kisan Vikas Patra (KVP) in 1988. Encouraging long-term financial discipline in people is its main goal. According to the most recent update, the scheme’s duration is currently 115 months, or nine years and five months.

There is no maximum limit to the investment amount, which starts at Rs. 1,000. Furthermore, you can receive twice as much at the end of the 115th month if you deposit a lump sum of money now. The name comes from the fact that its original purpose was to help farmers store money for the future. Everyone may now access it.

In 2014, the government mandated PAN card evidence for investments over Rs. 50,000 in an effort to curb the potential for money laundering. You must provide proof of income (salary slips, bank statements, ITR paperwork, etc.) in order to deposit Rs. 10 lakh or more.  You may safely store your money on our low-risk savings platform for a predetermined amount of time. Additionally, submitting the account holder’s Aadhaar number as identification is required. The following are the key details of Kisan Vikas Patra:

Particulars	Details
Interest Rate	7.5% compounded annually
Tenure	115 months
Investment Amount	Minimum: Rs. 1,000
	Maximum: No maximum limit
Tax Benefits	Tax benefits up to Rs. 1.5 Lakh under Section 80C of the Income Tax Act, 1961

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Types of Certificates Available

There are many kinds of Kisan Vikas Patra certificates, including:

• Single Holder Type Certificate: An adult may get this type of certificate for themself, a minor, or both.
• Joint “A” Type Certificate: The survivor or both holders jointly are eligible to get this type of certificate, which is granted to two people jointly.
• Joint “B” Type Certificate: This kind of certificate is given to two people jointly and can be paid to the survivor or either of the holders.

KVP Eligibility

The following people are qualified to invest in KVP:

• The candidate needs to be a citizen of India.
• The candidate must be older than eighteen.
• An adult may submit an application on behalf of a juvenile or someone who is mentally ill.
• Non-resident Indians (NRIs) and Hindu Undivided Families (HUFs) are not permitted to invest in KVP.

Who Should Invest in the KVP Scheme?

The closest post office is where any Indian citizen who is at least eighteen years old can purchase a Kisan Vikas Patra. Rural Indians who don’t have bank accounts find this very alluring. A KVP can also be purchased jointly with another adult or for a juvenile. The minor’s birthdate and the parent or guardian’s name should be mentioned. One can be purchased by a trust, but not by a HUF or an NRI.

KVP is an excellent option for risk-averse people with extra cash that they might not need right away. It all depends on your objectives and risk tolerance. Better choices for those looking for tax-saving plans include the Public Provident Fund, National Saving Certificates, and tax-saving bank FD programs. You have the Equity Linked Savings Scheme (ELSS) if you are willing to take on a certain amount of risk. Make use of your financial advantages.

Features and Benefits of Kisan Vikas Patra

Guaranteed returns

You are guaranteed the amount regardless of market fluctuations. Since the agrarian community was the program’s primary target, encouraging people to store for rainy days was given top importance.

Capital protection

It is an investing strategy that is protected from market hazards. At the conclusion of the term, you will get the investment and profits.

Interest

The number of years invested in KVP at the time of purchase affects the effective interest rate for Kisan Vikas Patra. For the Q2 FY 2024-25, meaning the quarter from July 1, 2024, to September 31, 2024, Kisan Vikas Patra’s (KVP) current interest rate is 7.5% p.a., compounded annually. Compounding the interest will increase the profits on your investment.

Maturity

The number of years invested in KVP at the time of purchase affects the effective interest rate for Kisan Vikas Patra. For the Q2 FY 2024-25, meaning the quarter from July 1, 2024, to September 31, 2024, Kisan Vikas Patra’s (KVP) current interest rate is 7.5% p.a., compounded annually. Compounding the interest will increase the profits of your investment.

Rules to premature withdrawal

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The lock-in period is 30 months (2 years and 6 months), even if the account matures after 115 months. Early plan withdrawal is prohibited unless the account holder passes away or a court order is issued.

Ease & affordability

KVP comes in the following denominations: Rs. 1,000, Rs. 5000, Rs. 10,000, and Rs. 50,000 for investment purposes. No upper limit is specified. Please be aware that the only place to purchase Rs. 50,000 denominations is at the city’s head post office.

Documents Required to Apply KVP

You must have these documents on hand when completing the Kisan Vikas Patra (KVP) application. These are listed below:

• Proof of address
• Birth certificate and identification documents including a driver’s license, passport, voter ID, Aadhaar card, and PAN.
• With a properly completed KVP application form

Steps to Invest in Kisan Vikas Patra

Kisan vikas patra is easy to put money into, as defined below.

• Step 1: get shape A, the utility form, and fill it out with the specified statistics.
• Step 2: supply the properly completed shape to the bank or publish workplace.
• Step 3: If the KVP financing was provided through the agency, they must assist you in filling out Form A1. You may obtain these forms from the internet as well.
• Step 4: You must use the Know Your Customer (KYC) approach and provide a copy of your identification and proof of transaction (such as your driver’s license, passport, voter ID, Aadhaar, or PAN).
• Step 5: After the files have been verified, you must make the deposit. The possible pricing schemes include coins, a pay order, a locally issued check, or a call for draft paid payable to the postmaster.
• Step 6: until you pay by means of demand draft, pay order, or check, you will get hold of a kip certificate proper away. you’ll need to turn this in whilst you are mature, so preserve it secure. Another option is to invite them to email you the certificate.

Nomination

A nomination can be made by a single or joint certificate holder by completing Form C at the time of purchase. You may choose any individual to receive the certificate’s benefits in the event that the sole holder or both joint holders pass away.

The single holder, joint holders, or the surviving joint holder may choose someone at any point after the certificate is obtained but before it matures by completing the properly completed Form C, even if the nomination is not made at the time of purchase. Send the paperwork to the bank employee or postmaster where the certificate is registered.

However, if a juvenile requests and has the certificate, no nomination is allowed. In this situation, the certificate holder or holder will use Form D to change or revoke the certificate if a nomination is made.

You must submit separate applications for nomination, cancellation, or variation of nomination if you have several certificates registered on various dates. Such an application will be recorded on the certificate and will take effect on the date of registration. For the first time, nominations are absolutely free. Each application for a subsequent nomination or cancellation will cost Rs. 20.

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Historic Interest Rates of KVP

Financial Year	April-June	July-September	October-December	January-March
2023-2024	7.5%	7.5%	7.5%	7.5%
2022-2023	6.9%	6.9%	7.0%	7.2%
2021-2022	6.9%	6.9%	6.9%	6.9%
2020-2021	6.9%	6.9%	6.9%	6.9%
2019-2020	7.7%	7.6%	7.6%	7.6%
2018-2019	7.3%	7.3%	7.7%	7.7%
2017-2018	7.6%	7.5%	7.5%	7.3%
2016-2017	7.8%	7.8%	7.7%	7.7%

Faq’s

Q. Even after it has been transferred to someone else, is the previous certificate still valid?

Ans: No, after a successful transfer, a new certificate in the transferee’s name will be made accessible with the same issuance date as the original.

Q. How many months will it take to double the KVP?

Ans: Within 115 months, or 9 years and 5 months, your investment in KVP will quadruple.

Q. Is KVP subject to taxes?

Ans: Since KVP is not eligible for 80C deductions, the returns are fully taxable. Withdrawals made after the scheme’s maturity, however, are not subject to tax deduction at source (TDS).

@PAY