The full form of KVP is Kisan Vikas Patra

Kisan Vikas Patra is a certificate scheme from the Indian post office. It doubles a one-time investment in a period of approximately 10 years & 4 months (124 months) if you purchase the certificate between 1 July 2021 and 30 September 2021. For instance, a Kisan Vikas Patra for Rs. 5000 will get you a corpus of Rs. 10,000 postmaturity. In this article, we will explore the features and potential of this scheme.

India Post introduced the Kisan Vikas Patra as a small saving certificate scheme in 1988. Its primary objective is to encourage long-term financial discipline in people. As per the latest update, the tenure for the scheme is now 124 months (10 years & 4 months) if you purchase the certificate between 1 July 2021 and 30 September 2021. The minimum investment amount is Rs. 1000 and there is no upper limit. And if you invest a lump sum amount today, you can get double the amount at the end of the 124th month.

Initially, it was meant for farmers to enable them to save for long-term, and hence the name. Now it is available for all.
To prevent the possibilities of money laundering, the government in 2014 made PAN Card proof compulsory for investments above Rs. 50,000. To deposit Rs. 10 lakhs and above, you must submit income proofs (salary slips, bank statement, ITR document etc.). It is a low-risk savings platform, where you can safely park your money for a certain period.

Further, it is also mandatory to submit AADHAAR number as proof of identity of account holder