How to transfer a Kisan Vikas Patra (KVP) Certificate : Kisan Vikas Patra (KVP) is small saving certificate which helps small investors to mobilize their savings in long term plan. The scheme was initially launched in 1988 by India Post. It was discontinued in 2011 on recommendation of a government committee led by Shayamla Gopinath, on fear of misuse of the scheme for money laundering. But in budget 2014, the scheme was re launched with some modifications.
Lets take a look at major features of Kisan Vikas Patra in brief –
- Kisan Vikas Patra Types : Single holder certificate, Joint A Type Certicate, Joint B Type Certificate
- Investment Limit : Minimum – ₹ 1000/-, Maximum – No limit ; No Limit on purchase of number of KVP certificate.
- Denominations : Kisan Vikas Patra available in denominations of ₹ 1000, 5000, 10000 and 50000
- Eligibility : Individual Indian Resident Adult for Self or on behalf of minor, Trust
- Interest Rate : 7.30 (effective from 1 Jan 2018)
- Maturity Period : 9 Years 10 months
- Nomination facility is also available in Kisan Vikas Patra.
- Certificates can be enchased after 2 years 6 months.
- Kisan Vikas Patra can also be transferred from one post office to other or from one person to another
In recent article, we read about what is Kisan Vikas Patra and its various features in details. Through this article, you will understand about how you can transfer a Kisan Vikas Patra certificate between post office and bank and also from one person to another.
How to Transfer Kisan Vikas Patra (KVP) Certificate
Kisan Vikas Patra certificate is transferrable in following ways –
- KVP transfer from one post office or bank to other
- KVP transfer from one person to another
Kisan Vikas Patra Transfer from one Post Office to another Post Office
Kisan Vikas Patra can be transferred from the one Post Office to another by submitting filled in KVP transfer form (FORM-B) – Download here along with following documents to post office or designated branch where it was bought.
Documents Required for KVP Transfer
- Filled in Kisan Vikas Patra Transfer Form (Form B)
- Identity Proof : Aadhaar Card /Driving License/Voter ID/Passport etc.
- Residence Proof : Aadhaar Card /Driving License/Voter ID/Telephone Bill /Passport etc.
- Original Kisan Vikas Patra (KVP) Certificate
- Pan Card Copy
Note : Filled in KVP transfer form (Form B) must be signed by certificate holders (in case Joint Type A certificate or Joint Type B Certificate, the application may be signed by one of the joint holder if the other is deceased.
Also attach KVP Application for Nomination Form C, Form D to change / cancel the nominations in KVP.
On receipt of application form for KVP transfer, the post master or bank will transfer the KVP certificate in books of another post office or bank branch.
KVP transfer from one person to other person
KVC can also be transferred from one person to another person in following cases –
- Transferee is Indian citizen and fulfill the eligibility to purchase these certificates.
- Transfer to another individual under the orders of the law court.
- Transfer of KVP certificate in the name of the nominee or legal heir on death of holder.
- Certificate issued in the name of minor can’t be transferred.
You need to fill Form B for KVP certificate transfer.
After getting request for KVP transfer, post master or bank employee will issue a new KVP certificate in the name of new holder. The new certificate will have the original issue date, deposit amount, maturity date, maturity amount.