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KVP - Kisan Vikas Patra Scheme

Name: Kisan Vikas Patra Scheme
Brand: Max Life Insurance
Rating: 4.3 (694 reviews)

Kisan Visas Patra, or KVP, is a scheme that is specially designed to encourage people to save funds and make long-term investments. It is offered by the Indian post office.

Kisan Vikas Patra scheme is one of the most popular savings options initiated by the government of India. Its primary objective is to mobilise savings and instil a healthy investment habit among the masses.

Kisan Vikas Patra: Features and Benefits

Being a government-sponsored scheme, the KVP scheme is considered a safe and secure investment option. Apart from good interest rates, KVP comes with many other features and benefits. Let us take a look at them: -

· Guaranteed Return

KVP is a risk-free financial instrument that offers guaranteed returns on your long-term investment. In other words, the investor is sure to receive the accumulated money as a maturity benefit in completion of the scheme tenure.

· Financial Protection

KVP is one of the safest investment options available today. You can start investing in KVP with a minimum amount of Rs. 1000, and accumulate a significant corpus in the long term. The KVP scheme certificates are available in different denominations—Rs. 100, Rs. 2,000, Rs. 5,000, Rs. 10,000. There is no upper limit to the amount of investment.

· Tenure

The tenure of the KVP scheme is 9 years and 10 months, or 118 months. The initial investment made under KVP doubles in 112 months. Once the tenure is complete, you can withdraw the money. The interest keeps accruing on the investment till you withdraw the money.

· Premature Withdrawal

Kisan Vikas Patra scheme comes with a lock-in period of 2 years and 6 months, and withdrawal is allowed only after 118 months. One cannot make premature withdrawals under KVP. However, premature withdrawal may be applicable in case of a court order or the unfortunate death of the account holder.

· Loan Facility Against KVP

Any individual to use the KVP certificate as collateral to avail of a loan. Also, the interest rate applicable to such loans is comparatively low.

· Nomination Facility

KVP has a simple process for nominating a nominee. The account holder only needs to submit a duly filled nomination form at the post office. If the nominee is a minor, the subscriber has to submit the birth certificate with the date of birth mentioned.

· Loan Facility Against KVP

Any individual to use the KVP certificate as collateral to avail of a loan. Also, the interest rate applicable to such loans is comparatively low.

· Nomination Facility

How Does KVP Double Your Investment?

Now that we know what is Kisan Vikas Patra scheme?, let us understand how it can double your investment. Kisan Vikas Patra, generally known as KVP, is one of the best savings schemes provided by the post office that can double the initial investment of an individual. The time in which the KVP scheme doubles your investment depends on the recent interest rates.

Currently, the interest rate offered by KVP is 6.9% compounded annually. So, it will take about 10 years and 4 months or 124 months to double your investment. Under the KVP scheme, an account can be opened with a minimum deposit of Rs. 1,000, and there is no upper limit.

How Does KVP Double Your Investment?

Kisan Vikas Patra Interest Rate 2022

Kisan Vikas Patra scheme is a savings plan which offers fixed interest rates and aims to multiply your funds within a given time frame. The current KVP interest rate is 6.9%.

Historic Interest Rates of KVP

Quarter/Financial Year	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020
April-June	8.7%	7.8% (Maturity tenure is 110 months)	7.6% (Maturity tenure is 113 months)	7.3% (Maturity tenure is 118 months)	7.7% (Maturity tenure is 112 months)
July-September	8.7%	7.8% (Maturity tenure is 110 months)	7.5% (Maturity tenure is 115 months)	7.3% (Maturity tenure is 118 months)	7.6% (Maturity tenure is 113 months)
October-December	8.7%	7.7% (Maturity tenure is 112 months)	7.5% (Maturity tenure is 115 months)	7.7% (Maturity tenure is 112 months)	7.6% (Maturity tenure is 113 months)
January-March	8.7%	7.7% (Maturity tenure is 112 months)	7.3% (Maturity tenure is 118 months)	7.7% (Maturity tenure is 112 months)	7.6% (Maturity tenure is 113 months)

Eligibility Criteria to Apply for Kisan Vikas Patra

Here are the eligibility criteria to invest in the KVP scheme: -

The individual should be above the age of 18 years.
The individual should be a citizen of India.
Minors are not eligible to purchase KVP. However, people above the age of 18 years can buy KVP on behalf of a minor.
The KVP certificates can be purchased by a trust.
Hindu Undivided Family (HUF) and NRIs (Non-Residents of India) are not allowed to invest in KVP.

Here are the eligibility criteria to invest in the KVP scheme: -

The individual should be above the age of 18 years.
The individual should be a citizen of India.
Minors are not eligible to purchase KVP. However, people above the age of 18 years can buy KVP on behalf of a minor.
The KVP certificates can be purchased by a trust.
Hindu Undivided Family (HUF) and NRIs (Non-Residents of India) are not allowed to invest in KVP.

What are the Documents Required to get Kisan Patra Certificates?

Following are the documents required for an individual to get the Kisan Vikas Patra scheme certificates: -

Identity proof required for the KYC process—Aadhar/Pan/Driving License/Voter ID/ Passport.
Proof of address
Date of birth certificate
The application form for KVP

Steps to Invest in Kisan Vikas Patra

The investment process for the KVP scheme is simple. You just need to follow these steps: -

Step 1: Collect the KVP application form called Form A and fill it out properly.

Step 2: Submit the duly filled form to the post office.

Step 3: Also submit the supporting documents such as identity proof and address proof along with the form.

Step 4: Once the verification of documents is done, you can make the deposit through cash, cheque, or demand draft.

Step 5: After that, you will receive the KVP certificate in your email after the completion of the payment. Keep the certificate safe as you need to submit it when you withdraw your funds.

Encashment of Kisan Vikas Patra

If you need to encash your KVP scheme certificate, then you can do so at the same place where it was issued. In case you want to encash it at a different post office, then you will be required to go through some formalities.

In order to encash your KVP certificate, you must submit the identity slip offered while buying the KVP certificate. You also need to submit a written letter.

Taxability of Kisan Vikas Patra

The Kisan Vikas Patra Scheme does not offer any tax benefits. The interest earned on the investment is taxable under ‘Income and Other Source’ that is paid every year. Moreover, a TDS of 10% is also deducted from the interest. Although, keep in mind that the final maturity amount is exempted from any tax deductions.

How to Transfer Kisan Vikas Patra Certificate from One Person to Another?

The KVP account holder needs to submit an application in writing in order to transfer the KVP certificate from one person to another. The transfer can be done in the following cases: -

If the account holder unfortunately dies, the KVP can be transferred to their nominee/legal heirs.
If the account holder dies, the account can be transferred to the joint holder(s).
In case of a court order.
If the account is pledged to a specific authority.

Documents Needed for Transfer of KVP Post Office

The following is the list of documents required for the transfer of the KVP post office: -

Identity proof
Duly filled form B.
Address proof
The original copy of the KVP certificate
An application signed by the subscriber confirming the transfer.

Loan Against KVP

The subscribers of KVP can avail of loans against the scheme. Here are some of the conditions for availing of loans against the KVP scheme:

The loans may be taken in the name of the subscriber.
The loan may be used only for business and personal purposes.
The subscriber is not allowed to take loans for any speculative objectives.
Different post offices and banks offer different rates of interest on loans against KVP.
The charges applied to take loans against KVP vary from time to time. Furthermore, some banks also charge a processing fee to sanction the loans.
Depending on the maturity of KVP and the investment amount, the loan amount is decided by the bank.

The loans may be taken in the name of the subscriber.
The loan may be used only for business and personal purposes.
The subscriber is not allowed to take loans for any speculative objectives.
Different post offices and banks offer different rates of interest on loans against KVP.
The charges applied to take loans against KVP vary from time to time. Furthermore, some banks also charge a processing fee to sanction the loans.
Depending on the maturity of KVP and the investment amount, the loan amount is decided by the bank.

KVP Maturity Period

The current KVP maturity period for the Kisan Vikas Patra scheme is 10 years and 4 months, or 124 months.

Premature Withdrawal Rules of Kisan Vikas Patra

The minimum lock-in period for the KVP scheme is 2 and a half years. During this period, the KVP certificate can be encashed prematurely only under some circumstances. These situations may include: -

The death of the account holder or any of the holders.
In case of a court order.

Frequently Asked Questions

1. Can the Post Office issue a Duplicate Kisan Vikas Patra if I lose the original?

In case the KVP certificate is lost, destroyed, or stolen, the owner can apply for the issue of a duplicate KVP certificate to the post office.

2. Can Kisan Vikas Patra be Encashed at Any Post Office?

No, the KVP certificate can be encashed only at the post office from which it was issued.

3. Are Cooperative Banks/Cooperative Societies Permitted to Invest in Kisan Vikas Patra?

No, the Cooperative societies and banks are not allowed to invest in the KVP scheme.

4. Are there tax benefits of investing in the Kisan Vikas Patra Scheme?

The returns generated from the KVP scheme are not eligible for tax deductions under section 80C of the IT Act. Keep in mind that the withdrawals made after the completion of tenure are exempt from TDS.

5. Is Kisan Vikas Patra scheme’s interest taxable?

The interest earned on the investment is taxable under ‘Income and Other Source’ that is paid every year.

6. Who can invest in Kisan Vikas Patra?

Any resident of India above the age of 18 years can invest in the Kisan Vikas Patra scheme.

7. Can NRIs and HUFs invest in the KVP scheme?

No, NRIs and HUFs cannot invest in the KVP scheme.

8. What is the maximum investment limit in Kisan Vikas Patra?

The minimum investment in KVP is Rs. 1,000, and there is no upper limit.

9. Can KVP be encashed prematurely?

Yes, the KVP certificate can be encashed prematurely in certain situations, such as the court order or the unfortunate death of the account holder.

10. What is the current rate of interest that can be earned with this scheme?

The current rate of interest offered under KVP is 6.9%.

11. What happens if the certificate is not encashed after the scheme reaches maturity?

If the KVP certificate is not encashed after reaching maturity, the account holder will be entitled to the savings interest of the post office.

12. Can KVP investments be made on behalf of a minor?

Yes, people above the age of 18 years can buy KVP on behalf of a minor.

Sources:

https://www.axisbank.com/retail/investment/kisan-vikas-patra/features-and-benefits

https://www.timesnownews.com/business-economy/personal-finance/planning-investing/article/double-your-money-with-guaranteed-return-assurance-with-this-post-office-scheme/834551

https://economictimes.indiatimes.com/wealth/invest/latest-kisan-vikas-patra-interest-rate/articleshow/90976123.cms

https://www.nsiindia.gov.in/InternalPage.aspx?Id_Pk=180

https://www.timesnownews.com/business-economy/personal-finance/planning-investing/article/double-your-money-with-guaranteed-return-assurance-with-this-post-office-scheme/834551

https://www.business-standard.com/about/what-is-kisan-vikas-patra

https://www.livemint.com/money/personal-finance/how-income-tax-on-kvp-is-calculated-11654010045781.html

https://www.nsiindia.gov.in/InternalPage.aspx?Id_Pk=88

https://www.timesnownews.com/business-economy/personal-finance/loans/article/need-money-urgently-you-can-borrow-loan-against-these-two-small-savings-schemes/781309

https://www.livemint.com/money/personal-finance/kvp-premature-encashment-how-much-you-will-get-1564046201945.html

ARN No: PCP/KVP/030123

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99.51%

(Source: Individual Death Claim Paid Ratio as per Audited Financials for FY 2022-2023)

Max Life's Presence

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(Source: Max Life Public Disclosure, FY 2022-23)

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Max Life Insurance is integrated with licensed NBFC FinVu(Cookiejar Technologies Pvt. Ltd. for sharing policy details with regulated Financial Information Users within the Account Aggregator ecosystem after obtaining the Policy holder's consent. Read more about Account Aggregator framework here.

*Life insurance coverage is available in this product. For more details on risk factors, Terms and Conditions please read the prospectus carefully before concluding a sale. You may be entitled to certain applicable tax benefits on your premiums and policy benefits. Please note all the tax benefits are subject to tax laws prevailing at the time of payment of premium or receipt of benefits by you. Tax benefits are subject to changes in tax laws. Trade logo displayed belongs to Max Financial Services Ltd. and Axis Bank Ltd. respectively and with their consents, are used by Max Life Insurance Co.

Insurance is the subject matter of solicitation. For more details on the risk factors, Terms and Conditions, please read the sales and rider prospectus carefully before concluding a sale. Tax benefits are eligible for tax exemption on fulfilling conditions mentioned under Section 10(10D) of income tax act 1961. Tax exemptions are as per our understanding of law and as per prevailing provisions of income tax at 1961 . Policy holders are advised to consult tax expert for better clarification /interpretation. Please note that all the tax benefits are subject to tax laws at the time of payment of premium or receipt of policy benefits by you. Tax benefits are subject to changes in tax laws. The monthly Income Benefit and Terminal Benefit may be taxable subject to extra premium being loaded at underwriting stage.

Disclaimers for Market Linked Plans & Saving plans:

THE UNIT LINKED INSURANCE PRODUCTS DO NOT OFFER ANY LIQUIDITY DURING THE FIRST FIVE YEARS OF THE CONTRACT. THE POLICYHOLDER WILL NOT BE ABLE TO SURRENDER/WITHDRAW THE MONIES INVESTED IN LINKED INSURANCE PRODUCTS COMPLETELY OR PARTIALLY TILL THE END OF FIFTH YEAR.

Unit Linked Insurance Products (ULIPs) are different from the traditional insurance products and are subject to the risk factors. The premium paid in the Unit Linked Life Insurance Policies is subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions. Max Life Insurance is only the name of the insurance company and Max Life Online Savings Plan (UIN: 104L098V05) is only the name of the unit linked life insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns. Please know the associated risks and the applicable charges from your Insurance agent or the Intermediary or policy document of the insurer. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these funds, their future prospects or returns.

Max Life Online Savings Plan is a Unit Linked Non Participating Individual Life Insurance Plan (UIN104L098V05)

*#Some benefits are guaranteed and some benefits are variable with returns based on the future performance of your Insurer carrying on life insurance business. The assumed rates of return (4% p.a. and 8% p.a.) shown in the illustrative example are not guaranteed and they are not the upper or lower limits of what you might get back as the value of your Policy depends on a number of factors including future investment performance. The guaranteed and non-guaranteed benefits are applicable only if all due premiums are paid.The Maturity Benefit shown in the illustrative example are inclusive/exclusive of taxes.

^*Disclaimer: Applicable for Titanium variant of Max Life Smart Fixed-return Digital (Premium payment of 5 years, Policy term of 10 years) and a healthy female of 18 years old paying Rs.3,60,000/- annually (exclusive of all applicable taxes)

^^On completion of policy term

The savings indicated is the maximum premium difference as compared with offline plan & depends on the variant purchased.

^*All claims that qualify for InstaClaim™ will be paid within 1 working day from date of submission of all mandatory documents else Max Life will pay interest at Bank Rate as on beginning of financial year in which claim has been received (4.65 % p.a. for FY’20) for every day of delay beyond one working day. Interest shall be at the bank rate that is prevalent at beginning of the financial year in which death claim has been received.

Claims for policies completed 3 continuous years. All mandatory documents should be submitted before 3:00pm on a working day.Claim amount on all eligible policies4 is less than Rs. 1 Crore. Claim does not warrant any field verification.Mandatory Documents :> Original policy document > Original/attested copy of death certificate issued by local municipal authority > Death claim application form (Form A) > NEFT mandate form attested by bank authorities along with a cancelled cheque or bank account passbook along with nominees photo identity proof > Discharge/Death summary attested by hospital authorities or FIR & Post Mortem Report/viscera report (in case of accidental death)

⁷CMO Asia BFSI Excellence Award 2019

⁵Criteria applicable only for “Term plans” for Graduate, Indian resident with declared income >= 10 lacs with CIBIL score >= 650 (salaried) and >= 700 (self-employed) with no disclosed medical condition

⁴InstaClaim TM is available for all versions of (UIN:104N118V04). Mandatory Documents : • Original policy document • Original/attested copy of death certificate issued by local municipal authority • Death claim application form (Form A) • NEFT mandate form attested by bank authorities along with a cancelled cheque or bank account passbook along with nominees photo identity proof • Discharge/Death summary attested by hospital authorities or FIR & Post Mortem Report/viscera report (in case of accidental death)

^##

Tax conditions :

save-46800-on-taxes-if-the-insurance-premium-amount-is-rs15-lakh-per-annum-and-you-are-a-regular-individual-fall-under-30-income-tax-slab-having-taxable-income-less-than-rs-50-lakh-and-opt-for-old-tax-regime--save-54600-on-taxes-if-the-insurance-premium-amount-is-rs15-lakh-per-annum-for-life-cover-and-25000-for-critical-illness-cover-and-you-are-a-regular-individual-fall-under-30-income-tax-slab-having-taxable-income-less-than-rs-50-lakh-and-opt-for-old-tax-regime">Save 46,800 on taxes if the insurance premium amount is Rs.1.5 lakh per annum and you are a Regular Individual, Fall under 30% income tax slab having taxable income less than Rs. 50 lakh and Opt for Old tax regime ~# Save 54,600 on taxes if the insurance premium amount is Rs.1.5 lakh per annum for life cover and 25,000 for critical illness cover and you are a Regular Individual, Fall under 30% income tax slab having taxable income less than Rs. 50 lakh and Opt for Old tax regime.

³The discount is applicable if you are a salaried employee with a corporate. During policy issuance, Max Life may call for proof of employment if required. In case proposer when asked is not able to prove the employment part, discount offer will be discontinued and additional premium as applicable will have to be paid for processing of the case.

CI Rider disclaimers:

MAX LIFE CRITICAL ILLNESS AND DISABILITY RIDER (UIN- 104B033V01) available as a rider on payment of additional premium.

^>Extended cover of up to 85 years is available with gold and platinum variant only

@ 64 critical illnesses covered in platinum and platinum plus variant on payment

22 critical illnesses covered in gold and gold plus variant

6 The life insurer is eligible for a discount on renewal premium under regular pay variant by accumulating Healthy Weeks as per terms and conditions of the rider

*^Total premiums paid inclusive of any extra premium but exclusive of all applicable taxes, cesses or levies and modal extra. Return of premium option is available on payment of additional premium.

~ C onditions for premium break : Available at an additional premium for policies with policy term greater than 30 years and premium payment term greater than 21 years. Option to skip paying premium for 12 months. 2 premium breaks will be available during the premium payment term separated by an interval of at least 10 years

~1 Conditions for Special exit value:

Option to receive all premiums paid back, at a specified point in the term of the policy (free of cost). Available when Return of Premium variant is not chosen. No additional premium to be paid.

~2 Voluntary Top-up Sum assured:

Option to double your insurance cover, basis underwriting, at the time of your need by increasing your sum assured up to an additional 100% of base sum assured, chosen at inception

^^*^^Free look period conditions:

The policyholder has a period of 30 days from the date of receipt of the policy document, to review the terms and conditions of the Policy, where if the policyholder disagrees to any of those terms or conditions, he / she has the option to return the Policy stating the reasons for his objections. The policyholder shall be entitled to a refund of the premiums paid, subject only to deduction of a proportionate risk premium for the period of cover and the expenses incurred by the company on medical examination of the lives insured and stamp duty charges.

^Individual Death Claim Paid Ratio as per audited financials for FY 2022-2023

⁸https://www.moneycontrol.com/news/business/economy/buy-term-insurance-now-as-rates-may-rise-from-april-1-4930921.html

²Total premium will be charged at the time of the policy issuance (subject to underwriting’s decision).

³The guaranteed benefits are available with selected life insurance plans & are applicable if all due premiums are paid

⁴Tax benefits as per prevailing tax laws, subject to change

Terms and conditions for availing 5% employee discount:

^<Due to system constraints, employee is requested to select 5 Lakh and above income which can be changed to actual amount on the information page.

¹The 5% employee discount will be refunded to you once your policy is issued. Submit your documents for getting your policy issued and get 5% employee discount

₉

The percentage savings is for a regular pay Max Life Smart Secure Plus Plan ( A Non Linked Non Participating Individual Pure Risk Premium Life Insurance Plan, UIN - 104N118V08)– Life Option for 1 cr life cover for a 35 year old, non-smoker male for a policy term of 40 years vs a 10 year policy term with the same details’

^~*Standard premium for 24-year old healthy male, non-smoker, 25 years policy term,25 year premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan (UIN:104N118V08)

^**Healthy non-smoking male, 24 years, 2 cr cover,25 years policy term,25 year premium payment term, exclusive of GST for Max Life Smart Secure Plus Plan (UIN:104N118V08)

~~Healthy non-smoking male, 24 years, 1 cr cover,25 years policy term,25 year premium payment term, exclusive of GST for Max Life Smart Secure Plus Plan (UIN:104N118V08)

Max Life Smart Wealth Plan| A Non-Linked, Non-Participating, Individual Life Insurance Savings Plan| ^@Rs.9,68,800/- as lump sum at the end of 15 years, for 35 years old healthy male.

ARN - ARN/Web/01/21042021

Past performance of the investment funds do not indicate the future performance of the same. Investors in the Scheme are not being offered any guaranteed / assured returns.The premiums & funds are subject to certain charges related to the fund or to the premium paid.

The premium shall be adjusted on the due date even if it has been received in advance.

For Total Installment Premium -**Total Installment Premium is the Premium payable as per premium paying frequency chosen, it excludes GST and applicable taxes, cesses or levies, if any; and includes loadings for modal premiums, Underwriting Extra Premium and Rider Premiums if any.

For Return of Premium -^~The Return of Premium Option is available on payment of Additional Premium. Premium does not include amount paid for riders and is excluding taxes, cesses and levies. Upon Policyholder's selection of Return of Premium variant this product shall be a Non-Linked Non-Participating Individual Life Insurance Savings Plan.

For Riders -^#Applicable Rider available on the payment of Additional Premium is Max Life Critical Illness and Disability Rider | Non-Linked Non-Participating Individual Pure Risk Premium Health Insurance Rider |UIN: 104B033V01 . Critical Illness and Disability Rider variant opted is Platinum Plus which covers 64 critical Illnesses. The rider cover will only be paid in scenarios where customer is diagnosed with listed 64 critical illnesses or total and permanent disability. Rider will terminate after major critical illness claim is paid to the policyholder. In case customer requests for cancellation of rider only, the solution as a whole will be cancelled and not just the individual rider.

For Additional Benefits -^##On Payment of Additional Premium. The accident cover will only be paid in scenarios where death occurs due to accident.

*~Disclaimer | Max Life Smart Secure Plus Plan. A non-linked non-participating individual pure risk premium life insurance plan |Benefit available with special exit value -Total premium paid inclusive of any extra premium but exclusive of all applicable taxes, cesses or levies & modal extra. The premium calculated as per Standard premium for 30 year old healthy male, non-smoker, 40 years policy term, 40 years premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan.

₆

Applicable for Titanium variant of Max Life Smart Fixed-return Digital plan (Premium payment of 5 years and Policy term of 10 years) and a healthy male of 18 years paying Rs. 20,000/- per month (exclusive of all applicable taxes) with 7.50% return. Life Insurance is available with this product.

_##

Policy continuance benefit is not available with lifelong wealth variant. **The accrued income will be accumulated on an annual basis at the prevailing reverse repo rate (publish on RBI’s website).

With “Save the date”, you can choose to take your annual income to any special date in a year.

***Available with early wealth variant. Income benefit will be paid as per selected plan terms.

Accidental death benefit is available in call variants except for Single premium variant. Life insurance coverage is available in this product.

_#~

Term Insurance plan bought online directly from Max Life Insurance has no commissions involved.

Max Life Smart Secure Plus Plan, A non-linked non-participating Individual Pure Risk Premium Life Insurance Plan| Standard Premium for 30 year old healthy male, non-smoker, 40 years policy term, 40 year premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan| ~1 Conditions for special exit value: Option to receive all premiums paid back, at a specified point in the term of the policy (free of cost). Available when Return of premium variant is not chosen. No additional premium to be paid. Option to receive all premiums back (exclusive of GST). Flexibility of exiting the plan early. Special Exit Value cover applicable till age 68 & above (of your age). T&C Apply.

⁶Applicable for Titanium variant of Max Life Smart Fixed-return Digital plan (Premium payment of 5 years and Policy term of 10 years) and a healthy male of 18 years paying Rs. 20,000/- per month (exclusive of all applicable taxes) with 7.50% return. Life Insurance is available with this product.

_@>Max Life Critical illness and Disability (UIN- 104B033V01) available as a rider on payment of additional premium. 64 critical illnesses covered in platinum and platinum plus variant on payment.

_*Available on Payment of Additional Premium. The accident cover will only be paid in scenarios where death occurs due to accident.

⁷Available with Max Life Smart Wealth Plan (UIN: 104N116V12)

⁸Available with Max Life Smart Fixed-return Digital Plan (UIN:104N123V04). The guaranteed benefits are available with selected life insurance plans & are applicable if all due premiums are paid.

**Standard premium for 24-year old healthy male, non-smoker, 25 years policy term,25 year premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan (UIN:104N118V08) with a life cover of Rs. 50 lakh.

^~~Standard premium for 24-year old healthy male, non-smoker, 25 years policy term,25 year premium payment term (exclusive of GST) for Max Life Smart Total Elite Protection Plan (UIN:104N125V04) with a life cover of Rs. 2 Cr.

**Our Life insurance policies cover COVID-19 life claims under life insurance claims, are subject to applicable terms and conditions of the policy contract and extant regulatory framework.

Disclaimer~*Standard premium for 24-year old healthy female,non-smoker, 25 years policy term, 25 year premium payment term (exclusive of GST) for Max Life Smart Secure Plus Plan (UIN:104N118V08)

~^Disclaimer: 5 year return (CAGR – Compound Annualised Growth Rate) from Max Life High Growth Fund (ULIF01311/02/08LIFEHIGHGR104) as on 31/05/2023| ²Nifty Midcap Free Float 100% (5-year return) | For more details on risk factors, terms and conditions and products offered.

^~The assumed rates of return (4% p.a. and 8% p.a.) shown in the illustrative example are not guaranteed and they are not the upper or lower limits of what you might get back. The value of your policy depends on a number of factors including future investment performance. The amount shown is for a 30-year-old healthy male, with 10 years premium payment term, and 35 years policy term with Max Life Online Saving Plan (Unit Linked Non Participating Individual Life Insurance Plan | Life Insurance is available in this product).

**Disclaimer | Max Life Smart Secure Plus Plan. A Non Linked Non Participating Individual Pure Risk Premium Life Insurance Plan. | **Standard Premium for 24 Year Old Healthy Female, Non-smoker, 25 Years Policy Term, 25 Year Premium Payment Term (exclusive of GST) for Max Life Smart Secure Plus Plan. | For Male, the Total premium to be paid in 25 years is Rs.2.09 lakhs (exclusive of GST). ~As compared to the similar modal points of Male, Female has to pay Rs.13,800 lesser premium than male for the entire policy term (exclusive of GST).

~3Disclaimer: A 35 year old female opting for a life cover of Rs. 1 Cr till the age of 75 years pays Rs. 3,319 monthly for 10 years while a 35 year old male will pay Rs. 4,168 monthly for 10 years

⁷Disclaimer: Rs. 1,00,29,587 after 14 years at policy maturity on monthly investment of Rs. 16,600 for 12 years for 30 year old male with Max Life Smart Wealth Plan – Long Term Variant. A non-linked non-participating individual life insurance savings plan. The guaranteed benefits are applicable only if all due premiums are paid. Total premiums paid is exclusive of GST. Life Insurance is available in this product. ARN: WP/SWP/250723.

Disclaimer: ^~10 year CAGR of Nifty SmallCap 250 Quality50 index as on 24/07/2023. Max Life Nifty Smallcap Quality Index Fund is passively managed Index fund that tracks the Nifty SmallCap 250 Quality50 index (subject to tracking error).

KVP - Kisan Vikas Patra Scheme

KVP - Kisan Vikas Patra Scheme

Kisan Vikas Patra: Features and Benefits

· Guaranteed Return

· Financial Protection

· Tenure

· Premature Withdrawal

· Loan Facility Against KVP

· Nomination Facility

· Loan Facility Against KVP

· Nomination Facility

How Does KVP Double Your Investment?

How Does KVP Double Your Investment?

Kisan Vikas Patra Interest Rate 2022

Historic Interest Rates of KVP

Eligibility Criteria to Apply for Kisan Vikas Patra

What are the Documents Required to get Kisan Patra Certificates?

Steps to Invest in Kisan Vikas Patra

Encashment of Kisan Vikas Patra

Taxability of Kisan Vikas Patra

How to Transfer Kisan Vikas Patra Certificate from One Person to Another?

Documents Needed for Transfer of KVP Post Office

Loan Against KVP

KVP Maturity Period

Premature Withdrawal Rules of Kisan Vikas Patra

Frequently Asked Questions

1. Can the Post Office issue a Duplicate Kisan Vikas Patra if I lose the original?

2. Can Kisan Vikas Patra be Encashed at Any Post Office?

3. Are Cooperative Banks/Cooperative Societies Permitted to Invest in Kisan Vikas Patra?

4. Are there tax benefits of investing in the Kisan Vikas Patra Scheme?

5. Is Kisan Vikas Patra scheme’s interest taxable?

6. Who can invest in Kisan Vikas Patra?

7. Can NRIs and HUFs invest in the KVP scheme?

8. What is the maximum investment limit in Kisan Vikas Patra?

9. Can KVP be encashed prematurely?

10. What is the current rate of interest that can be earned with this scheme?

11. What happens if the certificate is not encashed after the scheme reaches maturity?

12. Can KVP investments be made on behalf of a minor?

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Claims Paid Percentage

99.51%

99.51%

Max Life's Presence

269 Offices

269 Offices

Sum Assured

₹1,397,142 Cr.

₹1,397,142 Cr.

Assets Under Management

₹122,857 Cr.

₹122,857 Cr.

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