A popular investment instrument that’s low-risk and also guarantees assured returns

  • Rate of Interest: 7.2% w.e.f 01.01.2023 to 31.03.2023 (GOI revises the eKVP rate of interest on every quarter).
  • Tenure: 120 months w.e.f. 01.01.2023 to 31.03.2023.
  • Minimum of Rs. 1,000 and in multiples of Rs. 100 with no maximum limit.
  • Certificate can be purchased by an adult for himself or on behalf of a minor or by two adults.
  • All branches are authorized to issue e-KVP.
  • Nomination facility available.
  • Lock in period of 2 years 6 months. Premature closure before 2 years 6 months is allowed only:
    1. On the death of the holder or any of the holders in the case of joint holder.
    2. On forfeiture by a pledge being a gazetted government officer.
    3. When ordered by a court of law.

***For more details, please visit nearest Bank of Baroda Branch.

Frequently Asked Questions (FAQs)

  • What is Kisan Vikas Patra Scheme?

    Kisan Vikas Patra, an initiative of the Indian government, is a small savings instrument that allows people to invest in a long-term savings plan. An individual can open an unlimited number of KVP accounts with a minimum deposit of one thousand rupees and any amount in multiples of one hundred rupees. There is no maximum deposit limit in an account or in accounts held by an account holder.

  • Is Kisan Vikas Patra a good investment?

    Yes, Kisan Vikas Patra is a good investment for chances of less to no risk.

  • Who is eligible for Kisan Vikas Patra?

    Kisan Vikas Patra can be purchased by any Indian resident and minors.

  • What is the interest rate on Kisan Vikas Patra?

    For Q3 ROI is 7.0%. The interest rates of kisan vikas patra savings schemes are decided by the government and vary every 3 months to a year.

  • Which documents required for Kisan Vikas Patra scheme?

    Documents required for Kisan Vikas Patra are Aadhaar Card, Driving Licence, Passport, Voter ID as identity & address proofs.

    Note: PAN card for investments over Rs.50, 000 and income source proof for investments exceeding Rs.10,00,000 is mandatory.

  • How Kisan Vikas Patra works?

    Kisan Vikas Patra is a risk-free investment to get promised returns on fixed interest rates throughout the year.

  • Can I withdraw KVP after 2.5 years?

    Yes, one can withdraw Kisan Vikas Patra (KVP) after 2.5 years.

  • Can I transfer a KVP certificate to another person?

    Yes, that is an option and you can transfer a KVP certificate to another person.

  • What is the maturity period of Kisan Vikas Patra (KVP)?

    The maturity period of KVP is 123 months.
    Note: Presently maturity period depends upon ROI.

  • Are there any restrictions in terms of the amount that can be invested in Kisan Vikas Patra?

    No, there is no maximum limit for deposit in an account or in accounts held by an account holder.

  • What is the current rate of interest that can be earned with KVP scheme?

    The current rate of interest with KVP scheme is 7.0% for Q3.

  • Where can one encash a Kisan Vikas Patra (KVP)?

    One can encash a KVP through a branch.

  • How will the KVP maturity amount be paid?

    The KVP maturity amount be paid will be credited in operative account of customer.

  • Can NRIs and HUFs invest in the KVP scheme?

    No, NRIs and HUFs cannot invest in the KVP scheme.

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