Kisan Vikas Patra: Double the Money | e-Mode & Passbook | KVP vs NSC

Kisan Vikas Patra: Double the Money|Post Office|Interest rate

Kisan Vikas Patra


Kisan Vikas Patra (KVP) Scheme is one of the most popular small saving schemes backed by the Government of India. KVP was originally launched in the year 1988 by India Post. In 2014 same scheme was relaunched with a few changes such as pan card is mandatory for investment over Rs.50000 & proof of income source for investments exceeding Rs.10 lakh. The KVP scheme comes with a preset tenure of 124 months (10 years & 4​​​ months) and provides assured returns to the individuals. Anybody can avail it within the sort of certification from any branch of India Post Offices and selected public sector banks.
In this article, We will explore the highlights and capabilities of this plan.

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Kisan Vikas Patra Scheme features

FeatureTerms and Conditions
Interest ratesRate of interest 6.9 % compounded annually (with effect from 1-01-2021 ).
Amount Invested doubles in 124 months (10 years & 4​​​ months)
Deposit LimitMinimum of Rs. 1000/- and in multiples of Rs. 100/- No Maximum Limit.
TypeCertificate can be purchased by
(i) a single adult
(ii) Joint A Account (Maximum 3 adults)
(ii) Joint B Account (Maximum 3 adults)
(iv) Minor above 10 years of age
(i) An adult on behalf of a minor.
(ii) A guardian on behalf of a person of unsound mind.
Maturity tenure124 months (10 years & 4​​​ months).
Certificate can be en-cashed after 2 & 1/2 years from the date of issue.
EligibilityAny Indian citizen who is over 18 years of age.
Premature withdrawals Available with below conditions
one year will not receive any interest. You will also have to pay a penalty as per scheme regulations.
*After a period of one year and up to 2.5 years will receive interest but at a reduced rate.
*After 2.5 years will not attract any penalties and will receive interest at the applicable rate.
Tax BenefitTax-benefit is not available for the same scheme.
TDS of 10% is subtracted from the interest.
E-Mode & Passbook ModeAvailable
Source – India-Post

Extra important features

  1. Transfer facility is available so it can be transferred from one person to another and from one post office to another post office.
  2. Nomination facility is available at the time of opening and even after opening of account.
  3. As of now only offline process is there to apply for KVP.
  4. Even one can avail Loan against Kishan Vikas Patra certificate and same would act as a guarantee to avail loan for personal and business purpose such as expansion of business or marriage of child
  5. NRIs and Hindu-Unified Families are not allowed to open a account.

Also Read National Pension System: Secure Your Retirement without Stress

Maturity Period

FromToMaturity Period
02-02-199331-12-19985 Year 6 Month
01-01-199914-01-20006 Years
15-01-200028-02-20016 Years 6 Months
01-03-200128-02-20027 Years 3 Months
01-03-200228-02-20037 Years 8 Months
01-03-201130-11-20118 Years 7 Months
23-09-201431-03-20168 Years 4 Months
01-04-201630-09-20169 Years 2 Months
01-10-201631-03-20179 Years 4 Months
01-04-201730-06-20179 Years 5 Months
01-07-201731-12-20179 Years 7 Months
01-01-201830-09-20189 Years 10 Months
01-10-201831-12-20189 Years 4 Months
01-01-201930-06-20199 Years 4 Months
01-07-201930-09-20199 Years 5 Months
01-10-201931-03-20209 Years 5 Months
01-04-202030-09-202010 Years 4 Months

Also Read Atal Pension Yojana [APY] in Post Office | Features & Benefits | Application Form

Benefits of Kisan Vikas Patra

  1. Attractive interest rates – KVP offers better rate of interest as compared to other government-backed schemes.
    Scheme promises to double your investments in a little more than 10 years.
  2. Best benefit of the scheme that there is no upper limit for the investment amount.
  3. Transfer facility is also available in the scheme.
  4. Security – KVP is an Indian government investment plan,which provides Safety & Security of your amount with no risk. KVP offers assured returns and provide shield from market fluctuations.
  5. Loan facility – KVP certificate acts as a guarantee tool against which investor can avail loan facility.
  6. Easy way to invest – You can buy this scheme directly from Indian post office or selected public sector banks across India.e-Mode option is also available in Post office & banks.

Also Read SBI Bank Pension Plan – ADS | NPS | APY | Special Term Deposit

How to Open a Kisan Vikas Patra Account?


Post Office


To apply for KVP Scheme one has to follow the below steps:

  1. Download the application form (Form A) & fill required mandatory fields:
    1. Applicant name should be same as on identity proof.
    2. Name of the primary applicant & for a joint KVP account with a spouse, one need to mention the name along with address & the age of the spouse.
    3. One is required to provide cheque/demand draft/cash details along with amount on application form.
    4. Nominee detail like name, age, and address should be specified (If one wish to have more than one nominee, ensure one should declare the individual share of each nominee)
  2. Make sure that you simply ‘Know Your Customer’ (KYC) process are completed. If not, the staff at the post office will assist you complete it.
  3. Last step one should self attest all the proofs and good to submit the form at designated branch of Indian post office.

Application form for Post Office

Download Application Form
Opening of an account 1
Transfer of an account
Source – Post Office

Also Read Understanding The Background of “What is Tier 1 and Tier 2 in NPS”

State bank of India


SBI is also providing the same scheme via offline mode and one can visit a near branch office for opening an account. One can collect the application form from the SBI branch.

e-Mode & Passbook Mode


The individual will have the choice between passbook mode and electronic mode (e-mode). However, one can change the mode at any point of your time by requesting an account.

Kindly follow the following guidelines for the e-mode:

  • Firstly, you would like to possess a savings bank with the bank or post office from which you would like to purchase for the investment instrument.
  • Then access to internet banking is additionally a pre-requisite of an account.
  • And just in case you do not maintain the account you would like to both open the account also as get internet banking facility also activated.
  • Thereafter the KVP can be maintained in electronic mode (e-Mode).

Passbook mode facility is provided to those customers who are not able to choose the electronic mode. Banks/Post Offices will print the transaction of the scheme is shown in their account and issue a passbook.

There also can be an instance of switching from the passbook-mode to electronic-mode, therein case the previously issued passbook shall be canceled with all its leafs torn.

Documents Required

  • Photographs – Two passport size.
  • KYP Form A has to be filled for opening an Account & this is mandatory document.
  • Age Proof – Passport, Senior Citizen Card, Birth certificate. Voter ID card etc.
  • Identity proof – PAN card, Ration card, Driving license etc.
  • Address Proof – Aadhar card,Passport, Voter ID card,Telephone bill etc.

Also Read Government of India Pension Scheme for Old Age or Parents – Guaranteed Pension

  • Allahabad Bank
  • Bank of Maharashtra
  • Andhra bank
  • Bank of India
  • Corporation Bank
  • Canara Bank
  • Central Bank of India
  • IDBI Bank
  • Bank of Baroda
  • Indian Bank
  • Indian Overseas Bank
  • Punjab National Bank
  • State Bank of India
  • Syndicate Bank
  • UCO Bank
  • Union Bank of India
  • Vijaya Bank
  • ICICI Bank
  • HDFC Bank
  • Axis Bank


FeaturesKisan Vikas PatraNational Savings Certificate
Interest rate – (Q1- April to June 2020)6.9%6.8%
Deposit LimitMinimum of Rs. 1000/- and in multiples of Rs. 100/-
No Maximum Limit.
Minimum is Rs.100 &
Maximum is Rs.1,50,000
Tax BenefitTax-benefit is not available.
Under Section 80 C of the Income Tax Act, 1961 (up to 1.5L).
Liquidity2.6 Years5 or 10 years
Source – Post office.

Frequently Ask Question

  1. I have lost my KVP certificate. What is the process to obtain a duplicate certificate in Post office?
    In order to get the duplicate certificate, one is suppose to fill and submit NC29 form along with the original certificate copy or passbook with details like amount, date of deposit and need to provide explanation in writing for applying duplicate certificate. In case it got lost/stolen or destroyed FIR copy would be required.
  2. I have shifted to a another city. Can I transfer my KVP at the Post Offices here other than the Post Office of issue?
    Yes, KVP Certificate can be transferred from one person to another and from one post office to another.
  3. Can NRIs and HUFs invest in the KVP scheme?
    No, NRIs and Hindu-Unified Families are not allowed to open.
  4. Are Co-operative Societies and Co-operative Banks allowed to invest in Kisan Vikas Patra (KVP)?
    No, According to rule 6 of KVM scheme, co-operative banks and cooperative societies are not allowed. Kindly check the list of banks.
  5. How can I apply for Kisan Vikas Patra online?
    it’s totally an offline process to apply for the KVP. Now e-Mode & Passbook Mode option is available for Post office.
  6. Can I buy KVP from SBI online?
    No, Offline process is applicable for SBI as well. Now e-Mode & Passbook Mode option is available for SBI also.
  7. Is Kisan Vikas Patra a good investment?
    It’s one of the best scheme in security market backed from GOI.



Kisan Vikas Patra offers better income options for small investors because of secured interest rates and liquidity. Even though you do not get any tax benefits for your investments, one can invest in KSV for a higher return in addition to PPF/NSC’s.

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