How much should I invest in Kisan Vikas Patra?

Kisan Vikas Patra is one of the safest options of investment and is not subjected to market risks. By investing a minimum amount of Rs. 1000, the investors can accumulate a corpus for the long-term and ensure financial security in the future. The certificates of KVP are available in denominations Rs.

How can I buy KVP?

The KVP is a certificate and can be purchased in 3 ways – an adult for themselves, an adult on behalf of a minor, a Trust or two people can purchase this certificate together. The KVP certificate can be purchased at any Departmental Post Office.

Which is better FD or Kisan Vikas Patra?

Maturity period and interest rates of Kisan Vikas Patra The amount you will invest in Kisan Vikas Patra doubles in 124 months (10 years and 4​​​ months). Meanwhile, for most bank FDs the interest is lower than 6 percent. Thus the interest rate offered by Kisan Vikas Patra makes it look more attractive.

Which banks sell KVP?

Here are the list of banks where you can take a Kissan Vikas Patra or KVP.

• State Bank of India.
• State Bank of Patiala.
• Punjab National Bank.
• Bank of Baroda.
• State Bank of Bikaner and Jaipur.
• State Bank of Patiala.
• Allahabad Bank.
• Andhra Bank.

What is the current rate of interest on KVP?

6.9\% p.a.
The effective interest rate for Kisan Vikas patra varies depending on the number of years invested in KVP at the time of purchase. The current interest rate is 6.9\% p.a. for the quarter starting from 1 July 2021 to 30 September 2021, compounded yearly.

How interest is calculated on KVP?

There is no fixed tenure of KVP. It depends on the interest rate as declared by the Government from time to time. As per the present interest rate of 6.9\% per annum for this scheme, the tenure of investment comes to 10 years and 4 months (i.e., 124 months).

Is Indira Vikas Patra available?

Any Indian Resident above the age of 18 can open a Kisan Vikas Patra or Indira Vikas patra Account with a post office or any registered bank. Only a Lump-sum investment or a single payment is allowed for the deposit in the account. The minimum amount that can be invested is Rs. 1000 and then in multiples of 100.

Can KVP be premature?

A Kisan Vikas Patra scheme can be closed before maturity. The principal along with the interest can be withdrawn. The period for premature withdrawal of KVP is after 2 years and 6 months from the date of issuance, which is also the lock-in period.

Can I invest in KVP online?

If you have a Savings account with Bank/Post office, you can buy NSC or KVP certificates in e-mode. You should have access to internet banking. If you do not have Savings account, you have to open savings account and apply for Internet Banking before the purchase of NSC or KVP.