Kisan Vikas Patra Encashment

A Kisan Vikas Patra holder can choose to encash his/her certificate at any point of time starting from the date of issue. For the Kisan Vikas Patra Encashment, you will have to visit the post office that had issued the certificate.

Kisan Vikas Patra is a saving scheme that was announced by the Government of India that doubles the money invested in eight years and seven months. The Directorate of Small Savings Government of India, sells these saving bonds through all Post Offices in the country so that the scheme can be accessed by citizens from all over the country. A KVP can be encashed after two and a half years from the date of issue at the value it has been bought and the interest accrued for the period.

The “kisan” in Kisan Vikas Patra does not mean that only farmers can buy these saving certificates but means that the revenue mobilized by this scheme will be used by the Government of India in welfare schemes for farmers. Any individual can safely invest and save their money in the form of Kisan Vikas Patra.

How to Invest

Kisan Vikas Patra can be purchased from any Post Office by filling a form and depositing the amount in cash or by cheques or demand drafts with the filed form and your photographs. The Post Office will issue a Certificate called Kisan Vikas Patra with your name, amount, date of maturity and amount on the date of maturity.

Who Can Invest

You can invest in Kisan Vikas Patra if you are a citizen of India and an adult; in your own name, or on behalf of a minor. A trust is also eligible to invest in KVP. Two adults can jointly buy KVP.

The facility of Kisan Vikas Patra encashment can be availed only at the Post Office from which it was issued. In case it is not possible to encash at the same Post Office, certain formalities have to be completed before this can be done. The most important document to submit in this case would be the identity slip that the owner must have for Kisan Vikas Patra encashment.

KVP Premature encashment is also possible after the lock in period of two and a half years from the date of issue of the Kisan vikas Patra. The KVP holder is eligible to get the principal amount invested along with interest that is less than the full rate that would normally have been given.

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