- Where can I buy Kisan Vikas Patra?
- Is KVP tax free?
- Is Kisan Vikas Patra safe?
- What is the lock in period of Kisan Vikas Patra?
- What happens if Kisan Vikas Patra is lost?
- Can we purchase KVP online?
- Is Kisan Vikas Patra a good investment?
- Is Kisan Vikas Patra still available?
- Which is better KVP vs FD?
- Which bank offers Kisan Vikas Patra?
- How can I double my money in India?
- How can I withdraw money from Kisan Vikas Patra?
Where can I buy Kisan Vikas Patra?
Any Indian citizen above the age of 18 years can buy a Kisan Vikas Patra from the nearest post office.
People from rural India (with no bank account) find this particularly appealing.
You can also buy one for a minor or jointly with another adult..
Is KVP tax free?
Yes, interest earned on KVP is taxable as per you tax slab. Tax Deduction at Source (TDS) is not applicable for investment in KVP. At maturity, you can redeem the maturity proceeds (principal + interest) by approaching your post office or bank from where you have purchased the KVP certificate.
Is Kisan Vikas Patra safe?
KVP is just like a “Small Savings Scheme,” such as PPF, SCSS, etc., and as it is a government scheme the returns are guaranteed without any risk.
What is the lock in period of Kisan Vikas Patra?
The Kisan Vikas Patra is a saving scheme that aims to double your money in 100 months, which will be 8 years and 4 months. KVP is available in the denominations of Rs 1000, Rs 5000, Rs 10,000 and Rs 50,000, and have no maximum limit on investment. The lock-in period of KVP is 2 years and 6 months.
What happens if Kisan Vikas Patra is lost?
If the Kisan Vikas Patra (KVP) is lost, stolen, destroyed, mutilated or defaced, the rightful owner of such KVP may apply for the issue of a duplicate KVP to the Post Master of post office, where the certificate is registered or issued.
Can we purchase KVP online?
If you have a Savings account with Bank/Post office, you can buy NSC or KVP certificates in e-mode. You should have access to internet banking. If you do not have Savings account, you have to open savings account and apply for Internet Banking before the purchase of NSC or KVP.
Is Kisan Vikas Patra a good investment?
Summary: Despite few challenges, Kisan Vikas Patra is all set to rock the financial market as Indian market has good appetite for conventional small savings scheme. It will be beneficial for people in lower income tax bracket who would like to hedge the risk against falling interest rates.
Is Kisan Vikas Patra still available?
Certificates are available at all India Post Offices and KVP Application forms are available online as well as at India Post Offices and select banks.
Which is better KVP vs FD?
Under the new KVP scheme, the money invested in in KVPs will double in 100 months, or eight years and four months. This means an annual return of 8.67 per cent. … Bank fixed deposits currently offer around 9 per cent on more than 1-year fixed deposits.
Which bank offers Kisan Vikas Patra?
Union Bank of IndiaKisan Vikas Patra | Union Bank of India.
How can I double my money in India?
Here are some options to double your money:Tax-free Bonds. Initially tax- free bonds were issued only in specific periods. … Kisan Vikas Patra (KVP) … Corporate Deposits/Non-Convertible Debentures (NCD) … National Savings Certificates. … Bank Fixed Deposits. … Public Provident Fund (PPF) … Mutual Funds (MFs) … Gold ETFs.More items…
How can I withdraw money from Kisan Vikas Patra?
The facility to encash the Kisan Vikas Patra can be availed from the Post Office where the certificate was initially issued. If you are unable to encash the Kisan Vikas Patra certificate at the issuing Post Office, you will have to complete certain formalities to successfully withdraw your KVP certificate.