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How to invest in Kisan Vikas Patra?


Date: 30 Nov 2014    Group: Finance & Banking    Category: Investments   

Central government has recently announced revival of Kisan Vikas Patra scheme. I would like to know the procedure to buy this patra as an investment. What are the documents required? Share relevant details.

Wish to apply for Kisan Vikas Patra? Find out from our experts what is the eligbility criteria if any to purchase Kisan Vikas Patras and documents required for it.


Author: Ankit    07 Dec 2014      Member Level: Gold     Points : 4  (Rs 4)    Voting Score: 0

Kisan Vikas Patra is a saving scheme launched by Government of India to collect funds for use in development related activities undertaken for farmers. In these scheme your deposited money would be doubled in a period of 8 years and 7 months. You can purchase Kisan Vikas Patra from any Indian Post Office branch after filling up a form, giving money by way of a Demand Draft or Cheque along with a photograph. Only an individual adult Indian citizen can deposit money in this scheme.

You also get tax benefits on the deposited sum. For this you need to fill up a subscription form. The instalments you give are tax free and so is the maturity return.


Author: Timmappa Kamat    09 Jan 2015      Member Level: Platinum     Points : 5  (Rs 5)    Voting Score: 0

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.

BENEFITS
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.


Author: Suresh    22 Jan 2015      Member Level: Silver     Points : 3  (Rs 3)    Voting Score: 0

Our investment will be doubled in 8 years 4 months time and the security from the Government of India are the main attractions of Kisan Vikas Patra.
The interest rate of 8.7% is not so attractive compared to some fixed deposit interest provided by various banks. You can easily convert it in to cash and pledge in various banks as security.
Any citizen of Indian can have this good product of Government of India from any of the post office. You need to fill a form and deposit your amount by way of cash, cheque or demand drafts. After the process you will be awarded a certificate bearing your name, amount you invested, amount you will get on maturity, date of maturity etc.





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