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Benefits Of Kisan Vikas Patra

Benefits Of Kisan Vikas Patra

Kisan vikas patra, also referred as KVP is a better option to invest the hardly earned money.  kisan vikas patra calculators are available online to show the exact sum of amount on maturity.  Whole sole control and command over this scheme is not in the hands of any government undertaking or private security agency. Kisan vikas patra is the tool in the hands of general public to increase their money in easy and ensured environment as the return has been guaranteed by Government of India. This scheme is much beneficial for those persons who have retired from government jobs and need a certain amount of money at a later stage.  KVP is a safer scheme for investment and once can easily choose this option.  Forms are available in almost the post offices.  Opening amount can be deposited in post offices through cash/DD/Cheque etc.  Once can open a new KVP account from Rs. 100 only.  Earlier maximum limit of investment in this scheme is Rs. 50,000 but the same has been waved off and one can deposit as per his/her capabilities.  Benefits of this scheme are highlighted as under:

Rate of Interest:

Annual interest of 8.41% is paid on all the deposits made under KVP.  A special relaxation to the senior citizens is also paid in this scheme like Banks. Money of an investor doubles in 8 years and 7 months.  Like other saving schemes, Kisan vikas patra has also the attractive incentives for investor.

Nomination Facility:

Nomination facility is available in case any investor demands the same. Senior citizen can also invest his money even for a minor.

Re-investment facility:

Re-investment of the matured amount can also be done on the wish of investor.

Loaning facility:

One can also get the loan against the policy. This facility is available only for the Individuals. Business group, Company and HUF are not allowed to invest in this scheme.

Exemption from Wealth Tax:

Though, the income generated from this scheme is taxable, but entire amount on maturity is returned to the depositor and no wealth tax is levied on him/her.

Mobility:

This scheme is featured with mobility and can be easily transferred to any of the post office in India in case of transfer of a person.

Pre-mature encashment:

There is another facility to encash before maturity date.  It can be encash after depositing of money till 2.5 years but lowest rate of interest will be accrued on premature encashment.

Benefits Of Kisan Vikas Patra

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