Kisan Vikas Patra (KVP) Calculator

Rules, opening & closing

How to open, how to close, premature withdrawal rules, and main regulations for this scheme.

How to open / buy a KVP certificate?

KVP is available at post offices (departmental). Carry identity proof (Aadhaar, PAN), the amount in cash or by cheque (min ₹1,000, multiples of ₹100; no maximum). Fill the KVP application form. Certificate is issued in single or joint names. Minors can hold through guardian. Rate and doubling period are fixed at the time of purchase.

How to close or withdraw at maturity?

KVP doubles in approximately 115 months (about 9 years 7 months) at the current rate. On maturity, present the certificate at the same post office with identity proof and a discharge form. The maturity amount (double the purchase price) is paid. Interest is taxable; TDS may apply if interest exceeds ₹40,000 in a year.

Can I close or withdraw prematurely? What are the rules?

Premature encashment is allowed only after 2.5 years (30 months) from the date of issue. A deduction of 1% is made from the payable amount if encashed before the doubling period. No withdrawal in the first 2.5 years. No loan against KVP. Transfer to another person is not allowed except to nominee in case of death.

What are the main rules and regulations?

No maximum limit; minimum ₹1,000 in multiples of ₹100. Interest is compounded annually; rate is locked at purchase (e.g. 7.5%). No 80C benefit; interest is fully taxable. TDS at 10% if interest exceeds ₹40,000 in a financial year. KVP can be purchased on behalf of a minor. Nomination is allowed.

Who is eligible and what documents are needed?

Any individual, HUF, or minor (through guardian) can purchase. Documents: identity proof (Aadhaar, PAN), and completed form. No KYC for small amounts at post office as per applicable rules; for larger amounts, KYC may be required.