Kissan Vikas Patra

 

Money doubles in 8 years and 7 months. Facility for premature encashment as per the table given below (for the KVP purchased on or after 1st March 2003). Maturity value for Rs. 1,000/- denomination

 

                  After                                                                                             Amount Payable

 2 years 6 months or more but less than 3 years                                                 1170.51

 3 years more but less than 3 years 6 months                                                      1207.95

 3 years 6 months or more but less than 4 years                                                 1267.19

 4 years or more but less than 4 years 6 months                                                 1310.80

 4 years 6 months or more but less than 5 years                                                 1355.90

 5 years or more but less than 5 years 6 months                                                 1435.63

 5 years 6 months or more but less than 6 years                                                 1488.49

6 years or more but less than 6 years 6 months                                                  1543.30

6 years 6 months or more but less than 7 years                                                  1649.13

7 years or more but less than 7 years 6 months                                                  1713.82

7 years 6 months or more but less than 8 years                                                  1781.06

8 years or more but less than 8 years 7 months                                                  1850.93

 

Investment Limits and Denominations

 

No limit on investment. Available in denominations of Rs.100,Rs. 500/-, Rs. 1,000/-, Rs. 5,000/-, Rs. 10,000/- in all post offices and Rs. 50,000/- in Head Post Offices.

 

Features and Tax Rebate

A Single Holder type certificate may be issued to: An adult for himself or on behalf of a minor or to a minor Can be purchased jointly by two adults A Trust. Interest accrued on early basis for Tax purposes.

 

The Govt. of Maharashtra has declared the KVP as a "Public Security" under the provision of Mumbai Public Trust Act. 1950.

 

Interest accrued on yearly basis will be taken as income for Income Tax purposes