Best Scheme Of Post Office | Kisan Vikas Patra ( KVP ) How To Apply | Be...

Best Scheme Of Post Office | Kisan Vikas Patra ( KVP ) How To Apply | Best Interest Rate  Post Office



7.3​​​% compounded annually ​

Amount Invested doubles in 118​ months ( 9 years & 10​ months )

​

Certificate can be purchased by an adult for himself or on behalf of a minor or by two adults.

KVP can be purchased from any Departmental Post office.

Facility of nomination is available.

Certificate can be transferred from one person to another and from one post office to another.

Certificate can be en ​cash after 2 & 1/2 years from the date of issue.



Transfer from One Person to Another

A KVP certificate can also be moved from one individual to another and a written letter must be submitted to the Post Office for the same. The following conditions/specifications apply for the same.



Transfer from name of deceased to his heir

Transfer from the company to the employee on behalf of it was bought.

From one owner to the combined owners

From combined owners to name of one of the owners

From the owner to a judge of law and also to other individuals as ordered by a Court of Law.



Loan against KVP

A holder of Kisan Vikas Patra can avail a loan against the same. Following are the conditions for availing a loan against KVP.



The loan applicant must have a Kisan Vikas Patra under his own name.

The loan against KVP can be availed for business or personal purposes only. The loan cannot be availed for any speculative ones.

Different banks have different charges and interest for loans against KVP. The charges vary from time to time and select banks may charge processing fee for loan grant.

The loan should be repaid within the tenure of KVP which is 8 years and 4 months.

The margin and loan amount will be decided by the bank based on the KVP investment and maturity.







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