Kisan Vikas Patra

• Minimum Investment Rs. 500/- No maximum limit.
• Rate of interest 8.40% compounded annually.
• Money doubles in 8 years and 7 months.
• Two adults, Individuals and minor through guardian can purchase.
• Companies, Trusts, Societies and any other Institution not eligible to purchase.
• Non-Resident Indian/HUF are not eligible to purchase.
• Facility of encashment from 2 ½ years.
• Maturity proceeds not drawn are eligible to Post office Savings account interest for a
  maximum period of two years.
• Facility of reinvestment on maturity.
• Patras can be pledged as security against a loan to Banks/Govt. Institutions.
• Patras are encashable at any Post office before maturity by way of transfer to desired
  Post office.
• Patras are transferable to any Post office in India.
• Patras are transferable from one person to another person before maturity
• Duplicate can be issued for lost, stolen, destroyed, mutilated and defaced patras.
• Nomination facility available.
• Facility of purchase/payment of Kisan vikas Patras to the holder of Power of attorney.
• Rebate under section 80 C not admissible.
• Interest income taxable but no TDS
• Deposits are exempt from Wealth tax.

<< Previous | Next >>