Description : Kisan Vikas Patra is an instrument on which fixed interest is paid by the government. It is a small savings certificate program, aimed to promote long-term financial planning and discipline among people. KVP can be purchased by making a payment either in cash/cheque/pay order/demand draft from any India Post Office branch or select public sector banks. The certificate can be purchased by an adult or minor above 10 years of age or adults on behalf of a minor and can also be jointly be opened by upto 3 adults.Eligibility : 1. Age should be more than 10 yearsProcess : 1. Applicant needs to visit a post office in person with required documents. 2. It is available in denominations of Rs.1000, Rs.5000, Rs.10000 and Rs 50000. Minimum deposit Rs 1000 is to be made and there is no maximum limit. 3. Certificate can be transferred from one person to another and from one post office to another. 4. Certificate can be encashed after 2.5 years from the date of issue.

*If the payment is made through cash the instrument is issued immediately. *If the payment is made through cheque/pay order/demand draft - the instrument is issued on the date on which the payment gets cleared .

NOTE: (a)Single Holder Type Certificate :This KVP type is issued to an adult for himself or to a minor or on behalf of a minor. (b)Joint A Type Certificate :This is issued to two adults jointly and is payable to both the owners or to the survivor. (c)Joint B Type Certificate This Type B Kisan Vikas Patra is issued jointly to two adults and is payable to either of KVP holders jointly or to the survivor.

**KVP, when of Type A and Type B, is released to both the combined owners. In case the adulthood is due to both the heir and owners or due to either of the heirs, it is released to combined owners. Sample application form- https://www.indiapost.gov.in/VAS/DOP_PDFFiles/form/AccountopeningCertificate.pdfBenefit : Effective interest rate of 7.5% compounded annually