kisan Vikas Patra (KVP)
Eligibility
Individual age above 18 years, minor
Interest rate
7.3%
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
Extension
Reinvestment
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.
Benefits:
- 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
72/7.7=9.3 years
property
values
Invested amount
10,00,000
Invested date
18/5/2019
Maturity Amount
20,00,000
Maturity Date
18 July 2028
Total Interest
10,00,000
Tax benefits
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
T= Taxed
EEE/ EET/ ETE/TEE /TTE / TET = Investment, accumulated interest, withdrawal.