If you are looking for a cheap investment scheme that can give good returns on maturity then we have a wonderful plan for you so keep reading !!!
As many of you may know that post office provides many investment schemes and one such plan is Kisan Vikas Patra (KVP).
In this post office scheme, your money is not only safe, but you will get double returns on maturity. The best part of Kisan Vikas Patra Scheme is that it is a one-time investment scheme where your money gets doubled in a fixed period. This scheme is available in all the Post offices across India and also in all banks of the country.
Kisan Vikas Patra Maturity Period
It must be noted that the maturity period of KVP scheme is 124 months and the minimum investment that can be made in this scheme is Rs 1000. Moreover, there is no maximum limit. The scheme which is mainly introduced for the farmers, is also applicable for people with low incomes so that they can save their money for a long time.
Kisan Vikas Patra Benefits
-
In this post office scheme, the person not only gets good returns, but also benefit of government security on the investment.
-
Kisan Vikas Patra also claims to double your money (investment) after 10 years and 4 months or 124 months
-
It is one of the best investment schemes with assured returns.
-
The investors of KVP can make premature withdrawals.
How much to invest?
As per the scheme, you can invest a minimum of Rs 1,000 to get KVP certificate. In addition, investment in this scheme can be done in multiples of rupees one thousand only and there is no upper limit on investment. But, for any investment above Rs 50,000, you will have to provide your PAN card details.
Kisan Vikas Patra Interest Rate and Eligibility
At present, the interest rate given on Kisan Vikas Patra is 6.9%. This is compounded yearly.
Any citizen of India who is above 18 years of age can invest in KVP. No upper age limit has been prescribed for this. Kisan Vikas Patra can also be purchased in the name of a minor.
How to Buy/Get Kisan Vikas Patra
In order to apply you will have to go to your nearest post office. You must have valid Aadhar Card/ PAN Card/ Voter ID Card/ Driving License/Passport. KVP account can be opened in both single & joint mode.
For more details visit - https://www.indiapost.gov.in
