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  • Know about Kisan Vikas Patra Eligibility

    Overview of Kisan Vikas Patra

    Kisan Vikas Patra was originally introduced in the year 1988 by India Post. However, it was closed in 2011 after a committee set up by the Government of India under the supervision of Shayamla Gopinath recommended that there was a possibility to misuse KVP. However, when the new Government was formed in 2014, Kisan Vikas Patra was relaunched. The revenue that is mobilized through this scheme will be used by the Indian Government to launch welfare schemes for farmers.

    Kisan Vikas Patra saving schemes can be purchased in the form of a certificate for a minimum amount of Rs. 1000. There is no maximum amount. The certificates are available in the denominations of Rs. 1000, Rs. 5000, Rs. 10,000 and Rs. 50, 000. The investment that you make today will double in 100 months (8 years and 4 months). You can purchase this certificate from your nearest departmental Post Office by filling the application form and making the payment. You can also download the form online.

    Kisan Vikas Patra Eligibility

    The following person(s) are eligible to apply for a Kisan Vikas Patra Certificate –

    • The applicant must be an Indian Citizen.
    • The applicant must be an Adult.
    • Minors cannot purchase a Kisan Vikas Patra Certificate directly. However, an Adult can purchase a Kisan Vikas Patra Certificate on behalf of a minor.
    • The Kisan Vikas Patra Certificate can only be purchased in the name of the applicant OR on behalf of a minor.
    • The Kisan Vikas Patra Certificate can also be purchased jointly by two adults.
    • A trust can purchase the Kisan Vikas Patra Certificate

    A Kisan Vikas Patra Certificate can be purchased combined by 2 or more adults. Below are the following ways in which a K Kisan Vikas Patra Certificate can be purchased jointly –

    • Type A – Where adulthood is due to 2 owners plus their heir.
    • Type B – Where adulthood is due to either of the owners OR their heir.

    The following are NOT eligible to apply for a Kisan Vikas Patra Certificate –

    • Business entities are not eligible to apply for a Kisan Vikas Patra Certificate. A business entity here refers to any company or institutions.
    • NRIs or Non Resident Indians are not eligible to apply for a Kisan Vikas Patra Certificate.
    • HUF or Hindu Undivided Family cannot invest in a Kisan Vikas Patra Certificate.

    Kisan Vikas Patra Eligibility Frequently Asked Questions

    Are minors eligible to own a Kisan Vikas Patra Certificate?

    Yes. Minors can own a Kisan Vikas Patra Certificate. However, they cannot purchase the Kisan Vikas Patra Certificate directly. An adult will have to purchase the certificate on behalf of the minor. The date of birth of the minor must be entered on the form to verify the same.

    I work in a Trust. Am I eligible to apply for a Kisan Vikas Patra Certificate?

    Yes. You can purchase a Kisan Vikas Patra Certificate as a single owner, if the certificate is for a personal use and if you are an adult. You can also purchase the Kisan Vikas Patra Certificate on behalf of your Trust as a Trust is eligible to own a Kisan Vikas Patra Certificate.

    Can I purchase a Kisan Vikas Patra Certificate on behalf of my company?

    No. Business entities including companies and institutions are not eligible for the purchase of a Kisan Vikas Patra Certificate. However, if you wish, you can purchase a Kisan Vikas Patra Certificate singly or with a joint owner.

    I am a Non Resident Indian (NRI). Can I purchase a Kisan Vikas Patra Certificate?

    No. NRIs are not eligible to purchase a Kisan Vikas Patra Certificate. Only Indian citizens are eligible to own a Kisan Vikas Patra Certificate.

    Can I purchase a Kisan Vikas Patra Certificate along with another person?

    Yes. Two adults can jointly purchase a Kisan Vikas Patra Certificate.

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