Gov Scheme

Best Post Office Scheme:- Kisan Vikas Patra Yojana 2023, Tax Benefits, Calculator

Post Office Scheme:- Kisan Vikas Patra Yojana 2023, Tax Benefits, Calculator

Kisan Vikas Patra Yojana 2023:- Agriculture is vital to India’s economy and society. The government launched the Kisan Vikas Patra Yojana (KVPY) to help farmers and boost the agriculture sector. This plan has many unique features and benefits and is very popular. In this scheme, the citizens of India will have to invest for the long term. If you want to double your money with this scheme, then you have to invest for at least 115 months.

We’ll explore its objectives, eligibility criteria, investment options, and its significant impact on Indian farmers.

What is Kisan Vikas Patra Yojana (KVPY)?

Kisan Vikas Patra Yojana, abbreviated as KVPY, is a savings and investment scheme launched by the Government of India. The primary objective of the scheme is to promote financial inclusion among farmers and provide them with safe and profitable investment opportunities. Any citizen of India can take this scheme. This scheme is for those people who do not want to take any risk in their investment and want to keep their money safe.

This time in 2023, the interest rate of Kisan Vikas Patra Yojana has increased. If you do not want any risk in your investment then this is the best option for you. If you want to double your investment, then you have to invest your investment for the long term. You have 115 months (9 years & 7 months) to double your investment in this scheme. You get an interest rate of 7.5% compounded annually on your investment.

Post Office Scheme:- Kisan Vikas Patra Yojana 2023, Tax Benefits,  Calculator

Kisan Vikas Patra Yojana

Name of the schemeKisan Vikas Patra Yojana
Released the schemeGovernment of India
Beneficiariesall citizens of India
All citizens of IndiaTo encourage the spirit of savings among the countrymen
Investment Period115 months (9 years & 7 months)
Minimum investmentAmount of Rs 1000
Maximum investmentNo limit
Interest rate7.5%
WebsiteKisan Vikas Patra Yojana (Read More official Website)

Kisan Vikas Patra Yojana key objectives:-

  1. Promoting Savings: KVPY encourages farmers to save money systematically while promoting financial discipline.
  2. Long-Term Investment: It offers attractive interest rates on investment, making it an ideal option for long-term financial goals.
  3. DOUBLE INVESTMENT: The scheme promises to double the amount invested over a predetermined period of time while ensuring adequate returns.
  4. Tax Benefits: Investors can avail of tax benefits under Section 80C of the Income Tax Act.

Kisan Vikas Patra Yojana can be opened by: –

  1. a single adult
  2. Joint Account (up to 3 adults)
  3. a guardian on behalf of a minor or on behalf of a person of unsound mind
  4. a minor above 10 years in his own name.

Kisan Vikas Patra Scheme Eligibility Criteria

Individuals must fulfill certain eligibility criteria to participate in the Kisan Vikas Patra Scheme.

Who can invest?

1. Kisan: The scheme is mainly designed for farmers, which include individual farmers, joint farmers, and self-help groups engaged in agricultural activities.

2. Age Limit: There is no specific age limit for investment, making it accessible to farmers of all ages.

3. Resident Indian: Only Indian citizens can apply for this scheme.

Kisan Vikas Patra Scheme provides flexibility in investment options to meet the diverse needs of farmers.

Investment amount:-

  1. Minimum Investment: Investors can start with as little as ₹1,000, making it accessible to small-scale farmers and buy multiple 100rs.
  2. No upper limit: There is no upper limit on the investment amount, so farmers can invest as per their financial capacity.
  3. On the death of a single account, or any or all the account holders in a joint account.
  4. On forfeiture by a pledgee being a Gazette officer.
  5. When ordered by the court.
  6. After 2 years and 6 months from the date of deposit.

Maturity period:-

  1. DOUBLE MONEY: The lock-in period for KVPY is 115 months, which means your investment will double in approximately 9 years and 7 months.
  2. Partial Withdrawals: Investors can make partial withdrawals after 5 years from the date of issue.

Pledging of account:-

(i) KVP may be pledged or transferred as security, by submitting a prescribed application form at the concerned Post Office supported with an acceptance letter from the pledgee.

(ii) Transfer/pledging can be made to the following authorities.

  • The President of India/Governor of the State.
  • RBI/Scheduled Bank/Co-operative Society/Co-operative Bank.
  • Corporation (public/private)/Govt. Company/Local Authority.
  • Housing finance company.

Transfer of account from one person to another person:-

  • On the death of the account holder to nominee/legal heirs.
  • On the death of the account holder to the joint holder(s).
  • On order by the court.
  • On pledging of account to the specified authority.

How farmers benefit from KVPY

Kisan Vikas Patra Yojana provides many benefits to the farmers.

Financial Security

  1. Risk-Free Returns: The scheme is backed by the Government of India, which assures investors of the safety of their money.
  2. Regular Income: Interest is compounded annually, providing farmers with a steady source of income.

Investment doubled

  1. Wealth Generation: KVPY is designed to help farmers accumulate wealth over time, which can be used for various purposes such as education, health care or expansion of agricultural activities.
  2. Goal Fulfillment: It helps farmers achieve their long-term financial goals and dreams.

Tax benefits

  1. Savings on Taxes: Investors can claim tax deductions under Section 80C, which will reduce their overall tax liability.
  2. No TDS: There is no Tax Deducted at Source (TDS) on KVPY, making it even more attractive for investors.


Kisan Vikas Patra Yojana (KVPY) stands as a ray of hope for Indian farmers. It not only encourages savings but also empowers them with a reliable and safe investment option. With the promise of doubling their money, tax benefits, and no age restrictions, KVPY has become an essential financial tool for farmers across the country.

So, if you are a farmer and want to secure your financial future, consider the Kisan Vikas Patra Scheme. It is not just an investment; This is the way to prosperity.

Can non-farmers invest in KVPY?


What is the minimum investment required to open a KVPY account?

You can start with a minimum investment of ₹1,000.

How is interest calculated in KVPY?

Interest is compounded annually, ensuring that your money grows steadily over time.

Can I withdraw my investment before maturity?

After 2 years and 6 months from the date of deposit.

Is interest earned from KVPY taxable?

Yes, the interest earned is taxable under the Income Tax Act

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