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Can Non Resident Indians Purchase Kisan Vikas Patra

Kisan Vikas Patra is one of the savings schemes of the post office.  Anybody who is interested in investing in this can enroll in this by paying up the amount in the post office and from the day that you invest, you will get double the amount in eight years and seven months.  So, if you invest about a lakh after little over eight and half years, you will get two lakhs.  This is good return on your investment and the best thing is that there are no market fluctuations or changes.  You can plan on what you will get depending on what you invest and hundred percent of the time you will be right.

Kisan Vikas Patra does not mean that only farmers should invest in this – this is for all and any of us who would like to make investments for our income tax purposes or for any other savings.  So, then you might have a question on why it is called Kisan VikasPatra?  This is because the amount this is invested in this scheme by the common public is used for the welfare programs for our very own farmers back in the villages who are going the extra mile to produce our food day in and day out.  So, in a way investing in Kisan VikasPatra also becomes our duty.

Though the full benefit can be experienced after about eight and a half years, the other option that is available on the scheme is that you can withdraw your scheme after you complete two years and six months as well.  So, when you withdraw you get the money that you invested and you get the government prescribed interest rate till the date of withdrawal.  This is also good as there is no loss like investments in mutual funds, where you might end up losing money – and you might end up getting much lesser than what you invested.

You may have questions on who is eligible to buy these.  KVPS for NRI folks is not yet allowed as this scheme is strictly for Indian citizens living in India.  However if Indians living outside are interested to use this, they can then buy it in the name of their relatives who are living in India currently.  This could be one way of buying KVPS for NRI citizens.  But the Kisan Vikas Patra that is so issued will only be in the name of the relative and if this is not a problem then you can proceed.

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