Kisan Vikas Patra - or KVP - is a savings scheme relaunched by Govt of India.
WHO CAN INVEST?
Any adult Indian citizen can buy a KVP. It can also be bought by an adult in the name of a minor or by a trust. Business entities like companies or NRIs and HUFs are not eligible.
HOW TO INVEST?
You can invest in KVP by means of DD, Cash or cheque at your nearest Post Office. Fill in the requisite form and on submitting the same, you will be given your KVP. You will need a photograph while applying for KVP.
The investment made through KVP is tax free. Your investment gets doubled in 8 years and 7 months. In case, you need to close your KVP prematurely in the event of an unforeseen issue , you can do so after 2 and half years of investing.
You can invest for as low as Rs.100 and to a maximum of Rs 50000.
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