|
 A
Single Holder type certificate may be issued to:
 An adult for himself or on behalf of a
minor or to a minor
Can be purchased jointly by two adults
A Trust. Interest accrued on early basis
for Tax purposes.
The Govt. of Maharashtra has declared the
KVP as a "Public Security" under the
provision of Mumbai Public Trust Act. 1950.
Interest accrued on yearly basis
will be taken as income
for Income Tax
purposes
Amount payable
will be rounded of to the nearest rupee i.e., 50 paise and above
will be taken
to the next rupee.
Certificates can
be encashed at any time after expiry of 2 years and 6 months from
the date of
purchase.
Nomination and
Identity slip facility available.
 Post maturity
interest will be paid for a maximum period of 24 months at the rate
applicable to individual savings account.
|
