KVP Certificate shall be encashable at the Post Office of its Issue, provided that a KVP Certificate may be encashed at any other Post Office, if the Officer-in-Charge of that Post Office is satisfied on verification from the Post Office of issue that the person presenting the Certificate for encashment is entitled thereto.
When can I encash my KVP?
Encashment on Maturity:
(a) The maturity period of a Certificate of any denomination shall be eight years and four months commencing from the date of issue of the Certificate.
(b) The amount inclusive of interest, payable on encashment of a Certificate at any time after the expiry of its maturity period shall be Rs. 2000 for denomination of Rs. 1000 and at proportionate rate for any other denomination.
1- A KVP Certificate may be prematurely encashed any time under the following circumstances:
(a) on the death of the holder or any of the holders in the case of a joint holder;
(b) on forfeiture by a pledge being a Gazetted Government officer;
(c) when ordered by a court of law.
2- The KVP Certificate is only encashed prematurely only after expiry of two years and six months from the date of issue of Certificate (other than conditions specified in point 1 above).
3- In premature encashment the face value of the Certificate, together with simple interest calculated at the rate applicable from time to time to accounts under Post Office Savings Account Rule, 1981 for the complete months for which the Certificate has been held, shall be payable.
How the amount is paid?
The amount is to paid in cash or credited to an Saving Bank Account.
Things you need for KVP encashment?
1- Original KVP certificate
2- Proof of Identity (e.g. Valid Indian Passport, Indian Driving License etc.) of the holder.
3- Application for KVP Encashment
4- The investor/nominee must sign behind the KVP Certificate as a receipt for amount received on encashment. In the case of a KVP Certificate purchased on behalf of a minor who has since attained majority, the KVP Certificate shall be signed by such a person himself or herself but his or or her signature shall be attested either by the person who is known to the Post Master.
How to check, how much will I get?
You can check the final amount using the KVP Calculator