Salient features including Tax Rebate
A certificate can be purchased by an adult for himself or on behalf of a minor or by two adults.
KVP can be purchased from any Departmental Post office.
Facility of nomination is available.
A certificate can be transferred from one person to another and from one post office to another.
A certificate can be encashed after 2 & 1/2 years from the date of issue.
Investment under this scheme qualifies for the benefit of Section 80C of the Income Tax Act, 1961 from 1.4.2007.
Interest payable, Rates, Periodicity etc.
Amount Invested doubles in 115 months (9 years & 7 months)
Minimum Amount for opening of account and maximum balance that can be retained
Available in denominations of Rs 1,000, 5000, 10,000 and Rs 50,000. Minimum deposit Rs 1000/- and no maximum limit.