AICTE-ISTE INDUCTION/REFRESHER PROGRAMME SCHEME 2026

The Kisan Vikas Patra (KVP) scheme, relaunched in 2014, allows you to double your investment in 115 Read More... months with attractive interest rates at post offices and authorized banks. Read less

Details

Looking for a safe and reliable way to grow your savings in India? The Kisan Vikas Patra (KVP) scheme could be just what you need. Originally launched in 1988 and brought back by popular demand in 2014, this popular savings instrument from the Government of India is designed to help your money grow steadily.

What Is the Kisan Vikas Patra Scheme?

Kisan Vikas Patra, often called KVP, is a certificate savings scheme. You can buy these certificates from post offices and designated banks. The core idea is simple: invest a certain amount, and it will double over a specific period, thanks to attractive compound interest.

Who Can Benefit from This Scheme?

The KVP scheme is open to all Indian residents. Whether you're an adult looking to save for yourself, opening an account for a minor, or investing jointly with another adult, you can participate. Even minors aged 10 years or older can open an account with a guardian's help.

Why This Scheme Is Important

KVP plays a crucial role in encouraging small savings among the Indian populace. It offers a guaranteed return, making it a low-risk investment option. The scheme helps individuals build their wealth over time, supporting financial stability and growth.

Objective

The Kisan Vikas Patra (KVP) scheme, relaunched in 2014, allows you to double your investment in 115 months with attractive interest rates at post offices and authorized banks.

Benefits

Funding to the institution/University:₹ 3,00,000/-

Sources and references

Guidelines

Who Can Apply for Kisan Vikas Patra?

Any individual who is a resident of India.
A parent or guardian can invest on behalf of a minor or a person of unsound mind.
Minors aged 10 years and above can also open an account.

Deposit Requirements:

The minimum deposit is ₹1,000. Deposits can be made in multiples of ₹100 thereafter.
There is no maximum limit on the deposit amount.
An individual can open as many accounts as they wish.

Maturity Payments:

For accounts opened between 12th December 2019 and 31st March 2020: The maturity period is 9 years and 5 months. Your deposit will double on maturity.
For accounts opened on or after 1st April 2020: The maturity period is 10 years and 4 months. Your deposit will double on maturity.
The maturity period is determined by the interest rate applicable at the time of opening the account.

How to Open a Kisan Vikas Patra Account

Visit your nearest Post Office Branch or an authorized bank that offers the KVP scheme.
Fill out the application form for a Kisan Vikas Patra certificate.
Submit the required documents (listed below).
Make your deposit in cash, by cheque, or by demand draft.
You will receive your KVP certificate upon successful application and deposit.

For more details, you can visit the official website or your nearest Post Office/Bank.

Documents Required to Open KVP Account

Passport size Photograph
Aadhaar Card
PAN Card copy
Proof of Age (e.g., Birth Certificate)
Officially Valid Documents for Identification and Address Proof, such as:

Passport
Driving License
Voter's ID Card
Job Card issued by NREGA (signed by a State Government officer)
Letter from the National Population Register with name and address

FAQ’s

What is the tenure of a Kisan Vikas Patra (KVP) account?

The maturity period for a KVP account varies. For accounts opened between 12th December 2019 and 31st March 2020, it's 9 years and 5 months. For accounts opened on or after 1st April 2020, the maturity period is 10 years and 4 months. In general, your deposit doubles in 115 months at the current interest rate.

Can I nominate someone for my KVP account?

Yes, you can nominate a person for your Kisan Vikas Patra account.

Is it possible to open a joint KVP account?

Yes, you can open a joint KVP account. Up to three adults can jointly hold this type of account.

What is the interest rate offered by Kisan Vikas Patra?

The Kisan Vikas Patra scheme currently offers an interest rate of 7.5% compounded annually on your investment.

How do I open a Kisan Vikas Patra account?

To open a KVP account, you can visit any Post Office or an authorized bank. You'll need to fill out an application form and provide the necessary identification and address proof documents.

Are there any restrictions on the investment amount in KVP?

No, there is no maximum limit on the amount you can deposit in a Kisan Vikas Patra account. The minimum deposit required is ₹1,000, and subsequent deposits can be in multiples of ₹100.

What are the eligibility requirements to invest in KVP?

Any resident of India can invest in the Kisan Vikas Patra scheme. Parents or guardians can invest on behalf of minors or individuals who are of unsound mind. Minors aged 10 years or older can also open an account.

Can I transfer my KVP certificate to another person?

Yes, Kisan Vikas Patra certificates are transferable. You can transfer it to another eligible person, and it can also be transferred from one post office to another.

Can I close my KVP account before the maturity date?

Yes, you can prematurely close your KVP account under certain conditions. These include the death of an account holder, forfeiture by a pledgee, a court order, or after 2 years and 6 months from the date of deposit.