So let us see its feature and feasibility. How much you can invest? There is no maximum limit specified. However, the minimum will be Rs. In addition, there is no limit in holding a number of certificates from an individual.
This certificate will mature after 8 Yrs and 4 months. Your money money will double after 8 Yrs and 4 months. Therefore, interest will be 8. As of now, only individuals allowed to invest in KVP. As of now, you will not get any tax benefit while investing.
In case you want to invest from the savings account, which is with the same post office or bank, then you need to submit duly signed withdrawal form or cheque together with passbook. If you purchased KVP by cash, then it will be issued immediately. However, in case you purchased through cheque, DD or pay order, then the issue date will be the realising date of these instruments.
In case due to any other reason KVP not issued to you then the provisional receipt will be issued. However, the purchaser needs to exchange it while issuing of KVP certificate. In this case, issue date of KVP will be a provisional receipt issued date. Is it possible to transfer from one post office or bank to another post office or bank?
Yes, one can transfer it to any post office or other bank without any hindrance. For this, you need to submit Application Form B. This application must be signed by the holder or holders.
However, in case of joint holding a single holder signature is enough in case of another holder is dead. But do remember that no transfer shall be permitted in respect of Certificate held by or on behalf of a minor till the minor is alive. In How to encash kisan vikas patra after maturity other cases, original holder must submit the KVP original certificate and the new certificate will be issued in the name of transferee.
Single holder or joint holder of a certificate may nominate by filling Application Form C. You can nominate during the time of purchasing or at any point of time but before maturity.
You can cancel or change the nomination by submitting the Application Form D. However, remember that for the first time nomination.
But the subsequent nomination or cancellation shall be charged at Rs. Nomination facility not possible if the holder of certificate is held by or on behalf of the minor. If you not encash the certificate even after the maturity period, then you will receive the post office savings interest rate which is applicable at that time on the whole amount payable to you on maturity.
If you encash the certificate within one month from maturity, then no such interest will be payable. You can apply for a duplicate certificate if you lost it. But you need to submit an indemnity bond for the same along with identity slip. In case of mutilated or defaced certificate, you need to submit the original such defaced or mutilated certificate to get the original certificate.
You can encash it in the same post office or bank where it is registered. In case of the different bank branch or post office then it may get delayed as the internal verification is required. There is a lock in period of 2 Yrs and 6 months i. After that, you can encash it before maturity. However, it may How to encash kisan vikas patra after maturity liquidated even earlier too in case of below mentioned situations. It will be directly credited to your savings account of post office or Bank.
So at least while encashing the certificate at maturity one must have a savings account. Basavaraj Tonagatti is the man behind this blog. The purpose of this blog is to "Spread personal finance awareness and make them to take informed financial decisions.
These should not be construed as investment advice or legal opinion.
Once it is done, then you can withdraw. Visit the current Post Office. How much time maturity duration change for KVP? Can you provide me changed maturity duration yearwise? Dear Alpesh, You maturity duration will change based on the interest rate applicable to you at the time of investing.