BANKING AFFAIRS

Detailed explanation-1: -The Kisan Vikas Patra can be purchased from any Departmental Post Office. The minimum deposit amount is Rs. 1000, there is no maximum limit fixed. This saving schemes certificate can be purchased by an adult for themselves or on the behalf of a minor.

Detailed explanation-2: -Kisan Vikas Patra Yojana is a savings certificate scheme, which was launched in the year 1988 by India Post. This is a government-initiated scheme that aims to boost small savings among investors for a secured future. Kisan Vikas Patra, allows investors to invest for the long-term.

Detailed explanation-3: -Eligibility Criteria to Apply for Kisan Vikas Patra The applicant must be above the age of 18 years. The applicant must be a citizen of India. KVP cannot be purchase by a minor. However, an individual above the age of 18 years can purchase KVP certificates on behalf of a minor.

Detailed explanation-4: -If you wish to encash a Kisan Vikas Patra Certificate, you can avail the same at the Post office where the KVP was issued. In case you need to encash it at a different post office, some formalities have to be completed.