-
Rate of interest 8.40% compounded annually.
-
Two adults, individuals and minor through guardian can purchase.
-
Companies, Trusts, Societies or other Institutions are not eligible to purchase.
-
Non-Resident Indian/HUF are not eligible to purchase.
-
Maturity proceeds not drawn are eligible for Post Office Savings account interest for a
maximum period of two years.
-
Facility of reinvestment on maturity.
-
KVPs can be pledged as security against a loan to Banks/Govt. Institutions.
-
KVPs are encashable at any Post Office before maturity by way of transfer to desired
Post office.
-
KVPs are transferable to any Post Office in India.
-
KVPs are transferable from one person to another person before maturity.
-
Duplicate can be issued for lost, stolen, destroyed, mutilated and defaced patras.
-
Nomination facility is available.
-
Facility of purchase/payment of Kisan Vikas Patras to the holder of Power of Attorney.
-
Rebate under section 80 C is not admissible.
-
Deposits are exempt from Wealth Tax.
