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KVP (Kisan Vikas Patra) Scheme & Rules, 2019

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NOTIFICATION No. G.S.R. 920(E) dated 12th December 2019

In exercise of the power conferred by Section 3 of the Government Savings Promotion Act, 1873 (5 of 1873), the Central Government hereby makes the following scheme, namely:-

(1) In this scheme, unless the context otherwise requires.

(2) Words and the expressions used herein but not defined shall have the meanings respectively assigned to them in the Act and the General Rules.

(Table showing premature closure value of account opened on or after date of notification with 1,000 rupees)

TABLE

Period from the date of the account to the date of its pre-mature closureAmount payable inclusive of interest (Rupees)
(1)(2)
Two and half years but less than three years1173
Three years but less than three and half years1211
Three and half years but less than four years1251
Four years but less than four and half years1291
Four and half years but less than five years1333
Five years but less than five and half years1377
Five and half years but less than six years1421
Six years but less than six and half years1467
Six and half years but less than seven years1515
Seven years but less than seven and half years1564
Seven and half years but less than eight years1615
Eight years but less than eight and half years1667
Eight and half years but less than nine years1722
Nine years but before Maturity of Certificate1778
On maturity of certificate2000

An account may be transferred from one individual to another, subject to the condition that the transferee is eligible to open an account under this Scheme, in the following cases, namely:-

Updated : Dec 16, 2019