Kisan Vikas Patra Yojana 2023 Apply Online and see Kisan Vikas Patra Yojana interest rate, calculator and tax benefits
As you all know, the government keeps launching various schemes to promote the habit of savings among the citizens of the country. One such scheme is the Kisan Vikas Patra Yojana . To avail the benefits of this scheme, one has to make a long term investment. This scheme has been started for those people who do not want to take risk. Today we are going to provide you all the important information related to Kisan Vikas Patra through this article . Like what is Kisan Vikas Patra Yojana?, its purpose, features, benefits, application process etc. So friends, if you want to get all the important information related to this scheme, then you are requested to read this article till the end.
Kisan Vikas Patra Yojana 2023
This scheme is a type of savings scheme. Which doubles the investment amount after the investment period. Under this scheme, you can apply in the bank or in the post office. In this scheme the investor has to invest for 10 years and 4 months (124 months) and after 124 months you will get double the money. It is not necessary that only farmers should apply under this scheme. Any citizen of India can apply under this scheme. For Kisan Vikas Patra Yojana 2023 KVP certificate has to be purchased. Whose minimum investment is ₹ 1000. There is no upper limit for this investment. You can invest as much as you want. Just keep in mind that if you invest more than 50,000 then you will have to provide your PAN card details.
Kisan Vikas Patra Yojana Interest, Returns and Withdrawals
The current interest rate under Kisan Vikas Patra Yojana 2023 is 6.9%. After 124 months, it will be provided to you by doubling the investment amount at the rate of 6.9%. With this, the investor can make premature withdrawal from the Kisan Vikas Patra scheme. But interest will not be provided if the investor has withdrawn within 1 year of purchasing the certificate. Fine will also have to be paid for the same. But if the withdrawal is done after 1 year of purchasing the certificate, then the penalty will not have to be paid but the rate of interest will be less. If the investor has withdrawn after two and a half years, he will be provided with interest at the rate of 6.9% and no penalty will have to be paid.
Key Highlights Of Kisan Vikas Patra Yojana 2023
| Scheme Name | Kisan Vikas Patra Scheme |
| who launched | Indian government |
| Beneficiary | citizens of india |
| Objective | To encourage the spirit of savings among the countrymen. |
| investment period | 124 months |
| minimum investment | ₹1000 |
| maximum investment | No limits |
| Rate of interest | 6.9% |
Kisan Vikas Patra Certificate
Kisan Vikas Patra is made available by the government through the post office. This certificate can be purchased through cash, cheque, pay order or demand draft. There are three types of Kisan Vikas Patra which are Single Holder Type Kisan Vikas Patra Certificate, Joint A Type Kisan Vikas Patra Certificate and Joint B Type Kisan Vikas Patra Certificate.
- Single Holder Type Kisan Vikas Patra Certificate: This certificate is provided by the government to a single person on behalf of a minor or not a girl child.
- Joint A Type Kisan Vikas Patra Certificate: This certificate is jointly issued to two adults. This certificate is jointly liable to both the holders.
- Joint B Type Kisan Vikas Patra Certificate: This certificate is issued jointly to two adult individuals. It is payable to any one of the joint account holders.
Kisan Vikas Patra Interest Rate
The maturity period under Kisan Vikas Patra is 10 years 4 months. In this time the principal amount of Kisan Vikas Patra doubles. From January 1, 2021, the interest rate of Kisan Vikas Patra will be 6.9%. Beneficiaries can withdraw money from this account before maturity under certain conditions. The minimum limit to invest in this account is ₹1000. There is no maximum investment limit for Kisan Vikas Patra Account. Kisan Vikas Patra certificates are sold by the central government in denominations of ₹ 1000, ₹ 5000, ₹ 10000 and ₹ 50000. This amount can be obtained after maturity from the post office.
This amount can be obtained from any post office. To receive the amount, the beneficiary has to show his identity slip at the post office. But if the beneficiary does not have the identity slip, then he can redeem the amount only from the same post office from where he has taken the Kisan Vikas Patra certificate.
Objective of Kisan Vikas Patra Yojana 2023
The main objective of this scheme is to encourage the spirit of savings among the citizens of the country. The investment amount will be doubled through this scheme. This will motivate more and more people to invest and save under this scheme. Under Kisan Vikas Patra Yojana 2023, one has to apply for 124 months and 6.9% interest will be provided on the investment. Through this scheme, the economic condition of the people will also improve.
Kisan Vikas Patra Transfer
Kisan Vikas Patra can be transferred from one person to another only under the following conditions.
- In case of death of the account holder
- In case of death of joint holder
- ordered by the court
- On pledge of account to the designated officer
Rules for withdrawing Kisan Vikas Patra
Kisan Vikas Patra can be closed prematurely at any time. This decision will be taken only in certain circumstances. The situation of withdrawal of Kisan Vikas Patra is as follows.
- In case of death of any or all the account holders
- by order of the court
- 2 years 6 months after the date of submission
- by gazetted officer
Who can have Kisan Vikas Patra account?
- a child person
- Joint account holders (up to 3 persons)
- Guardian on behalf of minor
- minor above 10 years of age
Benefits and features of Kisan Vikas Patra Yojana 2023
- Kisan Vikas Patra Yojana is a type of savings scheme. By investing under which the investor can double his investment.
- To double the investment, the investor has to invest for at least 124 months.
- The minimum investment amount under this scheme is ₹1000.
- If the investor wants to invest Rs 50000 or more then he has to submit his PAN card details.
- Application under this scheme can be made from post office or bank account.
- Kisan Vikas Patra Yojana 2023 can be transferred from one post office to another post office or from one bank account to another bank account.
- The KVP form can be filled in check or cash.
- On submitting the Kisan Vikas Patra form, a Kisan Vikas Certificate will be provided which will have maturity date, beneficiary name and maturity amount.
- There is an interest rate of 6.9 percent under this scheme.
- Under this scheme, the investor can withdraw anytime, but if the withdrawal is within 1 year, then no interest will be provided and penalty will also have to be paid.
- Kisan Vikas Patra Yojana can also be used as a guarantee to get a loan.
Eligibility for Kisan Vikas Patra Yojana
- To apply under this scheme, it is mandatory for the applicant to be a permanent resident of India.
- The age of the applicant should be more than 18 years.
- If the applicant is a minor then his/her parents can invest in this scheme.
- Hindu Integrated Families or NRIs cannot apply under this scheme.
Important documents of Kisan Vikas Patra Yojana 2023
- Aadhar card
- Address proof
- kvp application form
- age certificate
- passport size photograph
- mobile number
Process to apply online in Kisan Vikas Patra Yojana
- First of all, you have to go to the official website of that bank or post office from where you have to buy this scheme.
- Now the home page will open in front of you.
- On the home page, you have to click on the link for investment plan.
- Now you have to click on the link of Kisan Vikas Patra Yojana.
- After this the application form will open in front of you.
- You have to enter all the important information asked in this application form.
- Now you have to attach all the important documents.
- After this you have to click on the submit button.
- In this way you will be able to apply under Kisan Vikas Patra Yojana 2023 .
Process to apply offline under Kisan Vikas Patra Yojana
- First of all you have to go to your nearest post office or bank.
- Now you have to take the application form of Kisan Vikas Patra Yojana from there.
- You have to enter all the information asked in this application form.
- After this you have to attach all the important documents.
- Now you have to submit this application form in the same bank or post office.
- In this way you will be able to apply under the Kisan Vikas Patra Yojana.
Process to transfer Kisan Vikas Patra Yojana 2023
- First of all, you have to go to that bank or post office from where you have taken Kisan Vikas Patra Yojana.
- Now you have to take Transfer Form B from there.
- You have to enter all the information asked in this form.
- Now you have to attach all the important documents with this form. Which is Identity Card, Residence Certificate, Original KVP Certificate, and Application.
- After this you have to submit this form in the same bank or post office.
- In this way you will be able to transfer Kisan Vikas Patra Yojana 2023 .