Buying Kisan Vikas Patra (KVP) certificates is straightforward. First, a common myth: some people think Kisan Vikas Patra (KVP) is only for farmers. It isn't. Any resident of India can invest in Kisan Vikas Patra (KVP). Non-resident Indians (NRIs) and Hindu Undivided Families (HUFs) can't.
There are three types of Kisan Vikas Patra (KVP) certificate.
- Single holder type certificate
- Joint A type certificate
- Joint B type certificate
A single holder type certificate is issued to an adult for themselves, to an adult on behalf of a minor, or to a minor aged 10 or more.
A Joint A type certificate is issued to up to three adults together and is paid to all the holders jointly, or to the survivors.
A Joint B type certificate is issued to up to three adults together and is paid to any one of the holders, or to the survivors.
How to buy Kisan Vikas Patra (KVP) certificates
Once you know you're eligible and which type of certificate you want, the buying part is simple.
Fill in the account opening form (Form-1, the same form used for all small savings schemes) and submit it at the post office or an authorised bank. If you're buying through an authorised agent, the agent helps you with the form. You can download the form, print it, fill it in and take it with you, or just ask for the form at the counter. The minimum is Rs 1,000, in multiples of Rs 100, with no upper limit.
Download links for the Kisan Vikas Patra (KVP) forms:
If you pay in cash, the Kisan Vikas Patra (KVP) is issued on the spot. If you pay by cheque or demand draft, it is issued once the payment has cleared. Since 2016, KVP has been issued in electronic or passbook form instead of as a paper certificate.
You'll need your Aadhaar (mandatory for all small savings schemes since 2023) and PAN when you buy. Also keep these points in mind when filling in the form:
- Say whether the Kisan Vikas Patra (KVP) is a single or joint purchase. For a joint purchase, write all the holders' names on the form.
- If you're buying Kisan Vikas Patra (KVP) on behalf of a minor, give the minor's date of birth and the name of the parent or guardian who will encash it.
- If you want to nominate someone for your Kisan Vikas Patra (KVP), give their full name and address. If the nominee is a minor, give their date of birth too.
- When your KVP is issued, the record shows your name, the amount, the maturity date and the amount you'll get on maturity.