Money doubles in 8 years and 7 months. Facility for premature encashment as per the table given below (for the KVP purchased on or after 1st March 2003).


 

After

Amount Payable

 2 years 6 months or more but less than 3 years

1170.51

 3 years more but less than 3 years 6 months

1207.95

 3 years 6 months or more but less than 4 years

 1267.19

 4 years or more but less than 4 years 6 months

 1310.80

 4 years 6 months or more but less than 5 years

 1355.90

 5 years or more but less than 5 years 6 months

 1435.63

 5 years 6 months or more but less than 6 years

 1488.49

6 years or more but less than 6 years 6 months 1543.30
6 years 6 months or more but less than 7 years 1649.13
7 years or more but less than 7 years 6 months

1713.82

7 years 6 months or more but less than 8 years 

1781.06

8 years or more but less than 8 years 7 months

1850.93


Investment Limits and Denominations

No limit on investment.
Available in denominations of Rs.100,Rs. 500/-, Rs. 1,000/-, Rs. 5,000/-, Rs. 10,000/- in all post offices and Rs. 50,000/- in Head  Post Offices.
 

Features and Tax Rebate

A Single Holder type certificate may be issued to:
    An adult for himself or on behalf of a minor or to a minor
    Can be purchased jointly by two adults
    A Trust. Interest accrued on early basis for Tax purposes.
 
The Govt. of Maharashtra has declared the KVP as a "Public Security" under the provision of Mumbai Public Trust Act. 1950.

Interest accrued on yearly basis will be taken as income  for Income Tax purposes

 


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