Step by Step Guide to Apply for Post Office Double Money Scheme 2021 (KVP), Complete Details, Online Form
The Indian Post Office has introduced the Post Office Double Money Scheme or Kisan Vikas Patra Scheme 2021. The main objective of this scheme is to invest in a long-term savings plan. The scheme was launched long back but suspended due to the misuse of the scheme in various ways. However, the Indian Post Office relaunched in 2014. Moreover, it has also made a few changes, including the PAN Card as a mandatory proof for investments over Rs 50000 and income source proofs for investments exceeding Rs 10 Lakhs.
The interested applicants can apply for the Post Office Double Money Scheme online on the official portal.
Post Office Double Money Scheme 2021 (KVP)
This article explains the online procedure to apply for the Post Office Double Money Scheme (KVP), Complete Details, and Online Form.
Kisan Vikas Patra Eligibility Criteria
Let us see the eligibility criteria that an applicant should fulfill to get eligible for the Kisan Vikas Patra or KVP Scheme.
- The candidates applying for the scheme should be an Adul Resident of India.
- The applicants can apply for Kisan Vikas Patra in their name or on behalf of a minor.
- Trusts are eligible to invest in Kisan Vikas Patra.
- However, HUFs (Hindu Undivided Family) and NRIs are not eligible to invest in KVP.
Complete Details of Post Office Double Money Yojana
Let us look at the benefits that an applicant will get from the Post Office Double Money Scheme launched by the Indian Post Office.
- The beneficiaries can start their long term savings with a minimum amount of Rs 1000.
- There is no upper limit for the investment amount. The candidates can invest as much as possible.
- The value of your investments will get doubled in 100 months (8 Years 4 Months).
- As the Kisan Vikas Patra scheme is directly running by the government, there is 100% security for your investments.
- The investors can avail of the fixed rate of interest facility for the investments being made.
- The KVP Certificate can be used as collateral for taking loans from any financial institution or bank.
- The benefits derived under the Post Office Double Money Scheme is non-transferable, and only the scheme holders can avail of this scheme.
- The scheme has a fixed lock-in period of two and a half years. However, in an emergency, the investors can withdraw their money by paying a nominal interest.
Apply for Kisan Patra Vikas Scheme (KVP) Online
Let us see the step by step process for applying the Kisan Patra Vikas Scheme online on the official portal.
- Visit the Official Portal of Indian Post.
- It takes the online user to the Home Page Below.
- Under the Schemes available, click on the Kisan Vikas Patra Scheme.
- Click on the KVP Application Form Link.
- It then downloads the PDF Application Form on your computer.
KVP Online Registration Form 2021
- Open the File and Read all the instructions and guidelines of the KVP Scheme.
- Scroll down the pdf document, where you can observe the application form of the KVP Scheme.
- Print the Application Form and start filling it manually.
- In the Application Form (Form 1), Fill in the details such as Name of the First Depositor Details, Name of the Second Depositor Details, Name of the Third Depositor Details, Details of Minor Account Holder, Aadhaar Number, PAN Number, Present Address, Permanent Address, Contact Details.
- Enter the Type of Account, Details of Date of Birth of Minor, Name of Guardian, Specimen signatures.
- Enter the Nomination Details.
- Similarly, fill the Form 2 and Form 3, and Form 4.
- Verify all details filled in the application form and submit all the required documents to the concerned post office.
Note: The interested and eligible candidates can also apply for the Post Office Double Money Scheme Offline by collecting the form at the nearest post office.
Kisan Vikas Patra Yojana 2020-21 Interest Rates
Let us see the interest rates of Kisan Vikas Patra Yojana for the year 2020-21 as shown below.
|Time Period||Interest Rate of KVP|
|Q1 FY 2020-21||6.9%|
|Q4 FY 2019-20||7.6%|
|Q2 FY 2019–20||7.6%|
|Q1 FY 2019–20||7.7%|
|Q4 FY 2018-19||7.7%|
|Q3 FY 2018-19||7.7%|
|Q2 FY 2018-19||7.3%|
|Q1 FY 2018-19||7.3%|
Toll-Free Number: 18002666868
Kisan Vikas Patra (KVP) Scheme 2021 FAQ’s
What is the benefit of the Post Office Double Money Scheme 2021?
The applicants can invest for a long time and double their investments under this scheme.
Can I avail of the Kisan Vikas Patra Application Form at the Post Offices to apply offline?
Yes, the applicants can avail of the KVP double money scheme at the post offices to apply offline.
Is the PAN Card mandatory for getting registered for the Post Office Double Money Scheme?
Yes, the PAN Card is a mandatory document for applying to the post office double money scheme.
What is the fixed locked-in period under the Kisan Vikas Patra Double Money Scheme?
The fixed lock-in period for the Kisan Vikas Patra scheme is two years and six months.