Kisan Vikas Patra - Closing it before maturity date?

[Bhairav]

I have bought Kisan Vikas Patra for the amount of Rs.2500/- in 1st March 2008. Can I close it, Jan 2011. What is the procedure for the same and how much amount I will get.

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[v.r.s.nathan]

Yes you can . Facility of en-cashment from 2½ years.
Read here - http://www.policywala.com/forum/show...an-Vikas-Patra

[Master]

Premature en-cashment of KVP

1. If the premature encashment takes place within a period of one year from the date of purchase of the certificate, only the face value of the certificate shall be payable. No interest is payable in this case.
2. After the expiry of one year, but before two years and six months from the date of the issue of the certificate, the face value of the certificate together with simple interest at the specified rate for the completed months for which the certificate has been held, shall be payable.
3. If a certificate is encashed any time after expiry of two-and-a-half years, the amount payable is as specified by the government from time to time.

[Bhairav]

In my case its two years and eleven months. Thanks all for your reply!

After the expiry of one year, but before two years and six months from the date of the issue of the certificate, the face value of the certificate together with simple interest at the specified rate for the completed months for which the certificate has been held, shall be payable.