The Kisan Vikas Patra is a saving scheme certificate that can be purchased from India Post for a minimum amount of Rs. 1000. There is no maximum amount. The amount that is invested in the purchase of the certificate will double in 100 months i.e. 8 years and 4 months. This scheme was initially launched in the year 1988. However, a committee under the leadership of Shayamla Gopinath was appointed by the Government of India that gave the recommendation that the KVP could be misused. As per this recommendation, Kisan Vikas Patra was closed in the year 2011. KVP was reopened in the 2014 under the new government that decided to relaunch this scheme.
The KVP is a certificate and can be purchased in 3 ways – an adult for themselves, an adult on behalf of a minor, a Trust or two people can purchase this certificate together. The KVP certificate can be purchased at any Departmental Post Office. The KVP certificate can also be prematurely encashed after the lock in period of 2 and a half years from the initial issue date.
Kisan Vikas Patra Online Application
You can apply for the Kisan Vikas Patra by downloading the online application form. This will help you avoid standing in lengthy queues to request for the form at the Post Office and the additional time to fill in all the details. Once you download the form, the following details are required –
- You will need to mention the amount that you would like to purchase the Kisan Vikas Patra for.
- You can pay the amount for the purchase by cash or by cheque. The same needs to be mentioned on the application form.
- The adult(s) purchasing the KVP should mention their names on the document. In case the purchase is for a minor, the date of the minor should be mentioned along with the parent’s name or the guardian’s name by whom the KVP will be encashed.
- The KVP provides the nomination facility wherein you can give the details on the person(s) you wish to nominate to receive the payment in case of your death. The details include the name of the person(s), the complete address and if the nominee is a minor, the date of birth.
- Once the form has been filled, you will have to sign the form and hand it over to the concerned messenger or the Postmaster at your nearest Departmental Post Office.
- The rest of the formalities will be completed by the Post Office for the successful completion of your KVP online.
Kisan Vikas Patra Online FAQs
Whom should the Kisan Vikas Patra form be addressed to?
The KVP form should be addressed to the Postmaster of the Post Office where you will be submitting the form.
Is there a minimum and maximum amount that the Kisan Vikas Patra can be purchased for?
The minimum amount for the purchase of a KVP certificate is Rs. 1000. There is no maximum amount of purchase.
What is the nomination facility that is provided under the Kisan Vikas Patra scheme?
As per the nomination facility provided by KVP, you can choose to nominate a person or persons who will receive the payment for the certificate in case of your death. The nomination facility requires the provision of certain details such as the name of the nominee, the complete address and in case of a minor, the date or birth should be provided.
How do I make the payment for the Kisan Vikas Patra certificate?
You can make the payment via cash or by cheque to purchase the KVP certificate.
Where and to whom do I hand over the Kisan Vikas Patra online form?
Once you have completed filling the kisan vikas patra online form, you will have to submit it to the Post Office from where you would like to purchase the certificate from addressing the concerned Postmaster general.