Kisan Vikas Patra Yojana: The Government of India has started the Kisan Vikas Patra Yojana to improve the economic condition of the farmers of the country. The objective of this scheme is to strengthen the economic condition of the farmers and include them in the mainstream. Crores of farmers are taking advantage of this scheme. In today’s article, we will provide you complete information about applying in Kisan Vikas Patra Yojana and getting its benefits.
Farmers Development Letter Scheme 2024
Kisan Vikas Patra Yojana is one of the oldest and important farmer welfare schemes of the Government of India. This scheme was started on 1 April 1988. Since then, the operation of this scheme is continuing. This scheme provides high interest rates to farmers on their deposits. Farmers can deposit money in their bank accounts and earn interest on it. Under this scheme, farmers get compound interest at the rate of 7.5% on the deposited amount.
The benefits of the Kisan Vikas Patra Scheme of the Government of India are being mentioned in the following list. After this, information about the documents required to apply in the scheme and its official application process will be given. So, if you want to take advantage of this scheme, please read this article till the end.
Benefits of Kisan Vikas Patra Scheme
Kisan Vikas Patra Yojana provides compound interest at the rate of 7.5% to the farmers of the country on their deposits. According to this interest rate, the amount deposited doubles in 10 years. Under the KVP scheme, farmers can deposit any amount in multiples of Rs 1000 or Rs 100.
Farmers do not need to deposit the entire amount at once; they can deposit the amount through fixed installments every month. Through this scheme, farmers can secure money for their family’s future and get double benefit.
There is no maximum limit for depositing in this scheme, so farmers can deposit any amount they want according to their financial situation. The account opened under the Kisan Vikas Patra scheme can also be transferred to another person. Apart from this, farmers can also get the unmatured amount after two and a half years from the date of investment.
Documents for Kisan Vikas Patra Scheme
- Aadhar card
- Bank Account
- mobile number
- Address proof
- Voter ID Card
- BPL Ration Card
- Kisan Vikas Patra Application Form
How to open an account under Kisan Vikas Patra Scheme?
- Here we are giving details of the process through which you can open a KVP account in any bank (linked with Kisan Vikas Patra) or post office.
- First, you need to choose the bank in which you want to open an account, and visit its nearest branch.
- After reaching the branch, you will have to get the necessary information about Kisan Savings Certificate Scheme from the bank officer there.
- The bank officials will give you detailed information about the scheme and provide the application form for opening the account.
- You must fill this application form carefully, avoiding any errors. If necessary, you can seek assistance from the bank.
- After filling the form, you need to get photocopies of the required documents and attach them with the application.
- Now you have to submit this application form in the bank.
- After the bank checks your application form and documents, your account will be opened in Kisan Vikas Patra Yojana.