Invest today, double your money tomorrow with Kisan Vikas Patra The Kisan Vikas Patra (KVP) is a government-backed savings scheme designed to encourage long-term investments among Indians. Offering a fixed KVP interest rate and the assurance of doubling your investment over a specified period, it stands as a reliable option for those seeking secure returns.
What is Kisan Vikas Patra?
It is a fixed-income instrument where investors purchase certificates, which mature over a set period, effectively doubling the invested amount. The KVP scheme offers a stable KVP interest rate, making it a low-risk investment option. It is ideal for individuals looking for guaranteed returns with minimal risk. Available at select banks and post offices, KVP ensures financial discipline while providing liquidity through premature withdrawal options after a 2.5-year lock-in period.
The government sets the KVP interest rate and is subject to periodic revisions. As of the latest update,
Read MoreThe Investment doubles at maturity with predictable growth, regardless of market fluctuations
The maturity period for KVP is set at 115 months, approximately 9 years and 7 months. This long-term horizon encourages disciplined saving and wealth accumulation over time.
You can nominate an individual to inherit the benefits of your KVP investment, ensuring financial security for your loved ones.
While KVP is designed for long-term investment, premature encashment is permitted after a lock-in period of 2.5 years (30 months).
Read MoreKVP Certificates can be used to avail loans from the banks and can act as a collateral. It can also help in getting lower interest rates on loans
Axis Bank facilitates the purchase of Kisan Vikas Patra certificates, making the investment process straightforward and convenient.
Maturity period of account shall be 115 months w.e.f 01.04.23.
Invested amount shall double on Maturity
There is a lock-in period of 2 years and 6 months. After 2.5 years and thereafter, in any block of six months, the customer can en-cash (premature) the KVP certificates. TDS will not be deducted on the maturity amount.
Want a long-term investment plan with a low investment risk? Simply fill in the application form for Kisan Vikas Patra .
Maximum loan amount
Loan upto Rs. 35 lakhs for locations with population above 10 lakhs and property value upto 45 lakhs. And loan upto Rs. 25 lakhs for locations with population less than or equal to 10 lakhs and property value upto 35 lakhs.
Minimum income norm
Minimum income norm varies from Rs. 8,000 p.m. to Rs. 10,000 p.m. depending on location.
Repayment
*Repayment period for home loans shall not exceed 30 years.
Security
Equitable mortgage of the property to be financed by way of deposit of title deeds.
Disbursement
The home loan will be disbursed in full or in suitable instalments, taking into account the requirement of funds and progress of construction, as assessed by the bank directly to the seller or builder or local development authority or supplier of materials etc.
Processing charges or admission fee
Processing fee equivalent to 1% or Rs. 10,000/- (whichever is higher) of the loan amount (applied for) will be collected along with the application form. Goods and Services tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable).
Penalty for early closure
‘Nil’ on floating interest rate home loans
The terms and conditions mentioned above and elsewhere under the scheme are subject to modification from time to time solely at the bank's discretion.
*Terms and Conditions Apply
Just follow these steps
KVP account can be opened via Axis Bank Website.
Path: Explore Products > Government Products > Kisan Vikas Patra
Visit your nearest Axis Bank branch to collect the KVP application form.
Provide accurate personal and investment information in the form.
Attach the necessary Know Your Customer (KYC) documents, including proof of identity and address.
Deposit the investment amount through cash, cheque, or demand draft.
Upon processing, you'll receive the KVP certificate, serving as proof of your investment.
Before investing in any financial scheme, it is wise to get your queries answered. We have answered some of the most frequently asked questions on Kisan Vikas Patra scheme.
KVP will bear Interest at 7.5% Interest is compounded annually (Interest rate is subject to change as per govt. notification)
No, KVP investments do not qualify for tax deductions, and interest earned is taxable.
Maturity period of account shall be 115 months w.e.f 01.04.23. Invested amount shall double on Maturity
Yes, KVP certificates are transferrable from person to person, from one post office to another one, anywhere in India.
Minimum investment amount is Rs. 1,000 and in multiples of Rs. 100 thereof is required
No, The Karta on behalf of the Hindu Undivided Family is not eligible to purchase Kisan Vikas Patra as there is no such provision in the rules.
No, only resident Indian citizens are eligible to invest in the scheme.
Yes, a guardian can invest on behalf of a minor.
No, there is no upper limit on investment.
Invest in high-growth mutual funds, fixed deposits, or government-backed schemes, such as KVP, to secure your financial future.
(Note: Transfer question “What is the minimum investment for KVP” from Eligibility to Investment tab)
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