Kisan Vikas Patra Scheme: Before doing financial planning, investors are advised to invest their hard earned money in a scheme which is government and where your money is safe.
But today we are telling you about such a scheme, where money is also safe and becomes double. Do not panic, this is not such a scheme but a government scheme, where you get more returns than any bank FD. Let us tell you more about this scheme.
Kisan Vikas Patra Scheme
If you want to invest your money in any government and safe scheme, then you can invest in this scheme of Post Office. On this scheme, the investor gets more returns than the Fixed Deposit. At present, you will get a return of 6.9 percent by investing in Kisan Vikas Patra. A certificate is given under this scheme, which anyone can buy.
How much money can invest
There is no maximum limit to invest in Kisan Vikas Patra. You can invest the maximum amount if you want. However, the investor should invest a minimum of Rs 1000 under this scheme. Investors can deposit any amount in it in multiples of Rs 100.
You can also open a joint account
Under Kisan Vikas Patra, investors can open a single account as well as a joint account. The minimum age to invest in this is 18 years. However, if a minor wants to invest in it, he can do so under the supervision of his parents.
How many years does money remain locked?
After investing once in Kisan Vikas Patra, you cannot withdraw your money from this scheme for two and a half years. If you want to withdraw money then you have to wait for 2.5 years i.e. 30 months. However, after this you can withdraw your investment.
How long does it take for money to double?
If you want to invest money in Kisan Vikas Patra, then according to the current rate of return i.e. 6.9 percent, your money will double in about 10 years 4 months (124) months. Keep one thing in mind, if you are investing in this scheme to get income tax exemption, then this scheme is not suitable for him. In this, only your money will be safe but you will not get the benefit of income tax exemption.
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