Kisan Vikas Patra Yojana 2024 – As you are all aware, the government usually brings new efforts to encourage saving among the citizens of the country. The Kisan Vikas Patra Yojana is one such scheme. For those who do not want to take risks, this scheme has been launched.
Through this article, we will today give you all the important information related to this scheme like highlights, benefits, features, purpose, eligibility, required documents, and process to apply for the KVP. Long time investment is required to benefit from this scheme. If you want to learn more information about this scheme, please read our article till the end.
Kisan Vikas Patra Yojana 2024
Contents
- 1 Kisan Vikas Patra Yojana 2024
- 2 Benefits and features of the Kisan Vikas Patra Yojana
- 3 Who can have Kisan Vikas Patra Yojana
- 4 Eligibility for Kisan Vikas Patra Yojana
- 5 Required Documents to Apply for Kisan Vikas Patra Yojana
- 6 The process to apply online for Kisan Vikas Patra Yojana 2024
- 7 Frequently Asked Questions (FAQs)
this is a great initiative has been implemented by the central government to promote saving. This scheme is a certain kind of savings plan. This, after the investment time, doubles the investment amount. You can submit an application for this scheme at the bank or the post office. In this scheme, the investor must invest for 10 years and 4 months, the investment amount will be doubled.
For the Kisan Vikas Patra Yojana, a KVP certificate must be issued. The scheme requires a minimum investment of Rs 1000. This investment has no maximum amount. You can make any investment you wish. The investor must provide his pan card information if he wants to invest Rs 50000 or more. The economic situation of the citizens can be improved through the KVP.
It is not required that only farmers apply for the Kisan Vikas Patra Yojana. Any person who is an Indian citizen may apply for this scheme. Transfers of the KVP Yojana are also possible from one bank account to another bank account or from one post office to another post office. The beneficiaries of the scheme will continue increasing their investments, and they will be able to withdraw twice as much money from it. If you want to know more information about this scheme then you must have to read the article till the end.
Kisan Vikas Patra Yojana 2024 Highlights
| Name of the Article | Kisan Vikas Patra Yojana 2024 |
| Launched by | Indian Government |
| Year | 2024 |
| Beneficiaries | All citizens of India |
| Purpose | It aims to encourage people towards saving and doubling the income |
| Investment period | 10 years 4 months (124 months) |
| Maximum investment amount | No limits |
| Minimum investment amount | 1000 rupees |
| Rate of interest | 6.9% |
| Category | Sarkari Yojana |
| Application mode | Online |
| Official website | http://Indiapost.gov.in |
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Purpose of Kisan Vikas Patra Yojana
The main aim of this scheme is to promote saving among the citizens of the country. Through this scheme, the investment amount will be doubled. This will encourage an increasing number of people to save money and invest under this scheme. A 124-month application is required for the Kisan Vikas Patra Yojana, and 6.9% interest will be provided on an investment. Through this scheme, the citizen’s economic situation will also improve.
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Benefits and features of the Kisan Vikas Patra Yojana
- A particular kind of savings scheme is the Kisan Vikas Patra Yojana. Whereby the investor can invest and double his investment price.
- The scheme requires a minimum investment of Rs 1000.
- The investor must keep their investment for at least 124 months in order to double their investment.
- A post office or bank account may be used to submit an application under this scheme.
- The investor must provide his pan card information if he wants to invest Rs 50000 or more.
- Fill out the KVP form with cash or a cheque.
- When the Kisan Vikas Patra form is submitted, a KVP certificate including.
- Transfers of the KVP Yojana are also possible from one bank account to another bank account or from one post office to another post office.
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Who can have Kisan Vikas Patra Yojana
- A child person
- Joint account holders
- Guardian on behalf of a minor
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Eligibility for Kisan Vikas Patra Yojana
- The candidate must be a permanent people of India.
- The applicant must be older than 18 years old.
- Parents can invest in this scheme if the applicant is a minor.
- Indian non–residents or Hindu integrated families are not eligible to apply under this scheme.
Required Documents to Apply for Kisan Vikas Patra Yojana
- Aadhar card
- Birth certificate
- Pan card for more than 50
- Permanent residence certificate
- KVP Application form
- Ration card photocopy
- 2 passport-size photos of the applicant
- Email ID
- Mobile number
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The process to apply online for Kisan Vikas Patra Yojana 2024
- First of all visit the official website http://indiapost.gov.in of the bank or post office where you must purchase this scheme.
- Now the homepage will open in front of your display screen.
- After this, You have to click on the investment plan link on the homepage.
- Now tap on the KVP Yojana link.
- The application form will appear on the display screen when you click the option.
- After tapping, the application form will open in front of you, then input the information asked in the application form.
- Check the mentioned details and upload all the required documents.
- After this, You need to click the button to submit.
- In this way, you can apply for KVP Yojana directly from the official website.
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Frequently Asked Questions (FAQs)
Which is better KVP or PPF?
The minimum amount you can invest under PPF is 500 INR, while you have to spend 1,000 INR for KVP. The maximum investment under PPF is 1,50,000 INR, while there are no investment restrictions in the case of KVP.
Can I withdraw KVP after 2.5 years?
A Kisan Vikas Patra scheme can be closed before maturity. The principal, along with interest can be withdrawn. The period for premature withdrawal of KVP is after 2 years and 6 months from the date of issuance, which is also the lock-in period.
Can I invest 10 lakhs in KVP?
If you invest Rs. 10 lakh in the scheme, you would receive Rs. 20 lakh at maturity after 115 months. The government provides the benefit of compound interest rates through this programme.
Does KVP double money?
As per the latest amendments in the KVP scheme, the maturity period of the scheme is over 10 years 4 months and the investment doubles after the completion of the scheme tenure.