Kisan Vikas Patra

* Minimum Investment Rs. 500/- No maximum limit.

* Rate of interest 8.40% compounded annually.

* Money doubles in 8 years and 7 months.

* Two adults, Individuals and minor through guardian can purchase.

* Companies, Trusts, Societies and any other Institution not eligible to purchase.

* Non-Resident Indian/HUF are not eligible to purchase.

* Facility of encashment from 2 ½ years.

* Maturity proceeds not drawn are eligible to Post office Savings account interest for a maximum period of two years.

* Facility of reinvestment on maturity.

* Patras can be pledged as security against a loan to Banks/Govt. Institutions.

* Patras are encashable at any Post office before maturity by way of transfer to desired Post office.

* Patras are transferable to any Post office in India.

* Patras are transferable from one person to another person before maturity

* Duplicate can be issued for lost, stolen, destroyed, mutilated and defaced patras.

* Nomination facility available.

* Facility of purchase/payment of Kisan vikas Patras to the holder of Power of attorney.

* Rebate under section 80 C not admissible.

* Interest income taxable but no TDS

* Deposits are exempt from Wealth tax.