Kisan Vikas Patra

Kisan Vikas Patra is a small savings certificate scheme launched by India Post In 1988. Like all other government schemes, KVP was also launched as a long term wealth creation avenue for farmers . Over the years it has emerged as a safe wealth creation option that Indian citizens with low risk appetites can opt for. The scheme spans for 118 months or 9 years and 10 months. What’s special about the scheme is that if you deposit a sum today at the end of the tenure your amount will get doubled. The minimum investment amount required is Rs 1000 and there is no cap to the maximum limit. Also it is mandatory to produce a PAN card for deposits more than Rs 50,000 for safety reasons. For deposits exceeding Rs 10 Lakh, the depositor needs to furnish other income proofs such as income tax return, salary slips, bank statement etc. Furthermore, depositors are mandated to furnish Aadhaar number as an identity proof as well.