Govt amends maturity period of Kisan Vikas Patra (KVP) and pre-maturity amount
The Govt. has notified the Kisan Vikas Patra (Amendment) Scheme, 2023 with effect from 1st day of January, 2023.
Amendments have been made to Kisan Vikas Patra Scheme 2019 It has been provided inter alia that the maturity period of an account opened on or after the 1st day of January, 2023 shall be ten years and the deposits made in the account shall double on maturity.
However, the maturity period of an account opened between 1st October, 2022 and 31st December, 2022 (both days inclusive)” shall be 10 years and three months.
The amount payable on premature closure of account opened on or after 1st day of January, 2023 with 1000 rupees shall be now as under:
| Period from the date of the certificate to the date of its encashment | Amount payable inclusive of interest (Rupees) |
| Two and half years but less than three years | 1162 |
| Three years but less than three and half years | 1198 |
| Three and half years but less than four years | 1234 |
| Four years but less than four and half years | 1272 |
| Four and half years but less than five years | 1311 |
| Five years but less than five and half years | 1351 |
| Five and half years but less than six years | 1392 |
| Six years but less than six and half years | 1435 |
| Six and half years but less than seven year | 1478 |
| Seven years but less than seven and half years | 1524 |
| Seven and half years but less than eight years | 1570 |
| Eight years but less than eight and half years | 1618 |
| Eight and half years but less than nine years | 1667 |
| Nine years but less than nine and half years | 1718 |
| Nine and half years but before Maturity of Certificate | 1771 |
| On maturity of certificate | 2000 |
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