We report here the preparation, ferroelectric, ferromagnetic and photovoltaic properties of polycrystalline KBiFe2O5 material. The formation of polycrystalline, orthorhombic KBiFe2O5 is confirmed through x-ray diffraction and HRTEM. The unsaturated ferroelectric hysteresis loop after poling indicates the leaky nature of the material that might be associated with the anion (oxygen) vacancies, not with the valence fluctuations of the Fe as confirmed by XPS. A weak ferromagnetism (remanent magnetization 0.005 emu/g) in KBiFe2O5 as observed from magnetisation study is resulted from high spin state of Fe3+ in Fe2O3 tetrahedron. The optically active KBFO shows switchable photoresponse with positive and negative polarities which gives photo current Usc) = 20.7 mu A/cm(2) and photo voltage (V-oc)=2.04V under visible light illumination after poling. The observed switchable photo responses are explained on the basis of dipolar flipping in KBiFe2O5 due to the applied poling field. (C) 2016 Elsevier Ltd. All rights reserved.