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Friends & Family
Kisan Vikas Patra
Indian Postoffice Savings
Kisan Vikas Patras (KVPs) are available at all Head Post Offices and authorized post offices throughout India. The KVPs are measured as the most safe investment tool, as it has the backing of the Government of India. The principal is assured (guaranteed) and it is deemed to be a safe avenue for investing your money.
KVP is suitable for an increase in investment as it accumulates money at a fixed rate, and money doubles at the end of the specified period. It is for those looking for guaranteed returns.
Who can purchase :
- An adult in his own name or on behalf of a minor,
- A minor,
- A Trust,
- Two adults jointly.
Where available
Available for purchase/issue at Post Offices.
Maturity amount / period :
With effect from 1st March, 2003, invested amount doubles on maturity
after Eight Years and Seven months.
Nomination :
Nomination facility is available.
Denomination / Deposit limits
- Certificates are available in denominations (face value) of Rs. 100, Rs.
500, Rs. 1000, Rs. 5000, Rs. 10,000 & Rs. 50,000. - There is no maximum limit for purchase of the certificates.
Tax Benefits :
No income tax benefit is available under the scheme. However the deposits
are exempt from Tax Deduction at Source (TDS) at the time of withdrawal.
Premature encashment :
Premature encashment of the certificate is not permissible except at a
discount in the case of death of the holder(s), forfeiture by a pledgee and
when ordered by a court of law.
Place of Encashment/discharge on maturity :
Can be encashed/discharged at the post office where it is registered or any other post
office.
BIK SRAN [ 01Jun08]
NICE, IT IS NICE TO KNOW THAT KISAN VIKAS PATRA CAN DOUBLE THE INVESTMENTS IN LESS THAN 9 YEARS. PLEASE TELL ME ABOUT THE NRI QUALIFICATIONS FOR POST OFFICE SCHEMES
BIK
RAJ [ 25Jul08]
DEAR SIR
KISAN VIKAS PATRA HAS NO INCOME TAX BENEFIT IT SAYS THAT THE TDS WILL BE LESS AT TIME OF MATURITY AS PER I KNOW TDS IS CHARGED ONLY IF THE INTERES AMT IS MORE THAN 5000/ SO LET ME KNOW HOW MUCH TO INVEST SO THAT TDS IS NOT APLICABLE
Vijay Bhambri [ 05Aug08]
Pleaes tell me how the money grows every six months,I am sure there must be a slab fixed by the Govt
ajay kumar [ 13Aug08]
sir
i am holding some KVP which is going to be mature in the next year/09. I loss two kvp. I have intimated to post office fore the same case.I need a suggestion for the case that it will be issuse for the new one or it can be clear from that post office on maturity without issue.
pls give the reply as earliest so that i can completed the formity and submit.
thanks
ajay