Minimum amount that can be invested in Kisan Vikas Patra(KVP) Certificate is.....

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Minimum amount that can be invested in Kisan Vikas Patra(KVP) Certificate is____

A	Rs.100
B	Rs.200
C	Rs.500
D	Rs.1000

Explanation:

Detailed explanation-1: -Ans. KVP certificate can be issued in the following denominations-Rs 1, 000, Rs 5, 000, Rs 10, 000 and Rs 50, 000. But, if an individual wants to invest more than Rs. 50, 000 in the scheme, he/she must submit the PAN card to curb misuse.

Detailed explanation-2: -A minimum of one thousand rupee and any sum in multiple of one Hundred rupees may be deposited in an account. No maximum limit for purchase of the certificates.

Detailed explanation-3: -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.

Detailed explanation-4: -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. It can also be purchased by 2 or more adults. This certificate can only be encashed after a minimum of 2 and a half years.

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