Kisan Vikas Patra (KVP)
Q. What is Kisan Vikas patra
Ans. Kisan Vikas patra is Money double scheme issued by post office of India
Q Who owns the Scheme
Ans. The scheme is owned by Post office India which was establish by Govt of India by Indian post office act.
Q What are the features of the Scheme
1.Your money will be double in 8 years and 7 months (effective compound rate of 8.4 %Yearly)
Q How Much can be invested in Kisan Vikas patra
Ans. There is no Upper limit on Investment in Kisan Vikas Patra It is available in domination of Rs 100, Rs 500, Rs 1000, Rs 10000, Rs 50000..
Q. At what time this scheme is available
Ans. This Scheme is available though out the year.
Q. What are the mode of operation
Ans it can be operated by single, Jointly, Minor with parent/guardian.
Q. Is there Nomination facility available
Ans. Yes Nomination facility available in scheme
Q. Is there any Tax benefit in investing in Kisan Vikas Patra
Ans. No, There is no such benefit available in investing in Kisan Vikas patra
Q. Can it be premature encashed
Ans. Yes, it can be premature encashed but only after 2.5 years
Q What if Certificate has been lost
Ans. If the loss is due to theft, fire or the certificate is mutilated, a duplicate certificate is issued after verification