kisan Vikas Patra (KVP)
|Eligibility||Individual age above 18 years, minor|
|How to open||at the post office only|
|Investment Limit Per Year||1000 to No upper limit (but above 10 lakhs Income proofs required ex: ITR, salary slip, etc)|
|Premature closing||after 2.5 years|
|Maturity / Lock-in Period||9 years & 4 months (112 months). based on interest rate|
|Tax Benefits||NO benefits|
|Application form pdf||#here|
|Transfer||person to person & post office to post office|
Kisan Vikas Patra Eligibility:
This Scheme not only for farmers (earlier designed for formers) but its applicable for everyone. every citizen of India 18+ years. but not for NRI & HUF.
- Loadn facility again KVP
- Nomination faciity
- Double your money in long term investment
- you can buy certificates of 100, 500, 1000, 5000, 10,000 and 50,000 & multiples of 50k like that.
- Capital Protection & appreciation
- Guaranteed Returns backed by the government.
How to Purchase KVP Certificates?
Visit any nearest post office along with amount/cheque. for 50000 above instment pan card compulsory. income proofs required if you invest more than 10 lakhs.
KVP Interest rate rates
Note: Intrest rates adjust every quarter depending on inflation rates.
Interest added/compounded annually not quarterly like bank FD.
|Time Period||Interest Rate|
|Q2 FY 2019-20||NA|
|Q1 FY 2019-20||7.7%|
|Q4 FY 2018-19||7.7%|
|Q3 FY 2018-19||7.7%|
|Q2 FY 2018-19||7.3%|
|Q1 FY 2018-19||7.3%|
KVP Maturity Calculations
7.7% double in 112 months
|Maturity Date||18 July 2028|
Section 80C Not applicable,
No TDS by Post office for KVP & other schemes too.
Comparison kvp vs ppf vs nsc vs scss vs mis vs fd
- NSC: 5 years term with section 80c applicable interest rate 7%* ETE >>
- FD: 5 years with low-interest rate 6-7% TDS and No tax benefits. ETE
- POMIS: Its pension scheme invests lumpsum get monthly income for 4.5 lakh you get 2888 month.
- KVP: 10 years lumpsum capital appreciation @ rate 7.7* tax status
- SCSS: Senior Citizen Saving scheme Its also Pension scheme, invest lumpsum get quarterly payment @7%* ETE
- PPF: 15 years monthly annual contribution at 7%* Tax-free EEE
- NPS: Retirement pension scheme up to 60 Years Age. interest rate Market condition of stocks Tax-free EEE
Note: for tax purose please verify with CA it’s maybe confusing you.
E= Exemption for tax
EEE/ EET/ ETE/TEE /TTE / TET = Investment, accumulated interest, withdrawal.