Eligibility and account opening rules
- Account types: Single adult account, joint account (up to three adults), or account on behalf of a minor.
- Minimum deposit: Prescribed entry minimum with deposits permitted in multiples of one hundred rupees, and no maximum ceiling on investment.
- Documentation: Aadhaar card and PAN card are mandatory for identity and KYC compliance.
- Nomination: Facility to nominate beneficiaries is available at the time of purchase or subsequently.
Maturity, interest rate, and premature encashment
The interest rate and doubling maturity period are reviewed and notified quarterly by the Ministry of Finance. Investors receive a fixed maturity value based on the rate prevailing on the date of certificate purchase. Premature encashment is permitted after a lock-in period of two years and six months (30 months) under prescribed conditions, such as court order or death of the holder.
Pledging as security for loans
KVP certificates can be pledged or transferred as collateral security to commercial banks, cooperative credit societies, or housing finance companies to obtain agricultural or business credit.
Official source
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India Post, Ministry of Communications ↗Related on KisanPe
Common questions
Who can open a Kisan Vikas Patra account?
Any resident Indian adult can open a single or joint KVP account, or an account on behalf of a minor or person of unsound mind.
What is the lock-in period for Kisan Vikas Patra?
The standard lock-in period for premature withdrawal is two years and six months (30 months) from the date of deposit.
Can KVP be used as collateral for bank loans?
Yes, KVP certificates can be pledged with banks and financial institutions as security for loans.
General guidance, not personal advice. For your farm, ask your local Krishi Vigyan Kendra or agriculture officer.
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