We have an account in the Post Office and thus try to avail the new schemes they launch most of the time. One such scheme is KVP or Kisan Vikas Patra. It is a certificate scheme from the Indian Post Office that doubles the one-time investment within a span of 10 years and 4 months or 124 months if the certificate has been purchased between 1st July 2021 and 30 September 2021. The best thing is that you can avail loan against KVP in Post Office. Many of us might not know this but it is true. Let me share more details related to it here.
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Can we take loan on KVP?
Yes. One can take loan against Kisan Vikas Patra. You can avail a personal loan or business loan using this certificate as collateral. The loan against KVP Post Office should be liquidated within the savings period.
Who is not eligible to take loan against Kisan Vikas Patra?
There are certain groups of people who cannot avail loan against this scheme who are:
Large companies/business/groups
NRI or Non-Resident Indians
Hindu Undivided Families
What is the loan against KVP interest rate?
The interest rate and charges keep changing from time to time so it is hard to tell the current rate. It is better to ask the bank about all these details before applying for a loan.
I hope now you know about the major details regarding the loan against KVP in Post Office.
Read More:What is the maturity period of Kisan Vikas Patra?
What is Kisan Vikas Patra?
What is the Interest Rate of Kisan Vikas Patra?
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Can We Take Loan On KVP?
Gaurav
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3 Year
2022-08-30T09:42:46+00:00 2022-08-30T09:42:47+00:00Comment
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