from increasing the level of financial savings, this scheme also
guarantees to double one's money in a time period of 100 months. |
1.Amount Invested doubles in 100 months ( 8years 4 months)
2.Available in denominations of Rs 1,000, 5000, 10,000 and Rs 50,000.
3.Minimum deposit Rs 1000/- and no maximum limit.
4.Certificate can be purchased by an adult for himself or on behalf of a minor or by two adults.
5.KVP can be purchased from any Departmental Post office. This facility will also be extended shortly to the designated branches of commercial Banks.
6.Facility of nomination is available.
7.Certificate can be transferred from one person to another and from one post office to another.
8.Certificate can be en cashed after 2 1/2 years from the date of issue.
Table Showing Premature closure of KVP ( for Den. Rs. 1000 )
2 and half years but less than 3 years
3 years but less than 3 and half years
3 and half years but less than 4 years
4 years but less than 4 and half years
4 and half years but less than 5 years
5 years but less than 5 and half years
5 and half years but less than 6 years
6 years but less than 6 and half years
6 and half years but less than 7 years
7 years but less than 7 and half years
7 and half years but less than 8 years
8 years but before maturity of the Certificate
On maturity of Certificate
8 Years 4 month = 100 months