Post Office Kisan Vikas Patra:Amid the corona crisis, the government has been taking several measures to give some relief in rural areas and lessen the pain of farmers, workers and poor. Recently, the post office is offering several schemes where farmers can invest a very small amount of money which will result in a big way. Moreover, there are many options for Small Saving Schemes in the Post Office and you need to choose the best one to invest your money. Here, we will discuss the schemes where farmers can invest their money and get the utmost benefit out of it.
If you also want to invest your money in a good place, Post Office Kisan Vikas Patra Scheme is very helpful. Through this scheme, you will get double benefit in time of maturity once you invest. Moreover, you can open one account for a minimum of Rs 1000 and through the Post Office Kisan Vikas Patra, you are given double benefits with a guarantee on investment.
What is Post Office Kisan Vikas Patra Scheme?
Kisan Vikas Patra (KVP) is a savings scheme available at India Post Offices in the form of certificates. It is a fixed rate small savings scheme designed to double your investment after a predetermined period of time (124 months in the currently available issue).
The scheme is designed to encourage long-term investment and savings amongst the masses. It is suitable for investors who are reluctant to risk taking, have surplus money and are looking for assured returns.
Through this scheme, the work of regulating all policies is done by the Post Office and the Reserve Bank of India. Moreover, Post Office Kisan Vikas Patra is a long-term scheme and its maturity time has also been reported to be 124 months.
Post Office Kisan Vikas Patra {KVP} Types
Through this scheme, you can also open single account, double account, joint account. You will also get the facility of nominee in this account. You can buy Kisan Vikas Patra {KVP} for 10 years. If you want, you can extend this period too. Moreover, you will get a good interest in this installment.
Interest by Post Office Kisan Vikas Patra
Through this scheme, everyone gets good amount of benefits. Together they also get a large amount of interest. They are also assisted in the form of financial funds. Reporting by the Post Office, you can also take loan on this scheme.
How to Apply for Post Office Kisan Vikas Patra Scheme?
To apply for this scheme, you can directly contact to post office. You will be provided with that form. You need to provide aadhar card, post office account, mobile number, pen card, identity card along with application form.
