Kisan Vikas Patra Interest Rate: Post Office Kisan Vikas Patra Yojana can be a great option for investing your money. The government has increased the interest rates of some small savings schemes for the January to March quarter, which includes this scheme. Now the interest rate available on this has increased to 7.20 percent.
Everyone wants to invest in such a scheme, which will help in making him financially strong in the coming times. If you are also making an investment plan, then the government scheme Kisan Vikas Patra (KVP) can prove to be better for you. Now it has become even more profitable than before and can double the amount you have invested in just 120 months.
Good option to get hefty returns
If you are looking for a great investment plan to secure your future, then the popular post office scheme Kisan Vikas Patra can prove to be a good option for investment. The government has recently increased the interest rates of this scheme. The Center has increased the interest rate available on small savings schemes by up to 1.10 percent. Under this, the interest rates of Kisan Vikas Patra have also been increased by 20 basis points. With this step of the government, the money of the investors investing in the scheme will double in three months as compared to earlier.
This much interest rate after the announcement of the Center
From January 1, 2023 onwards, the central government will now double the money of investors in Kisan Vikas Patra in 120 months instead of 123 months. After the increase in interest rates, investment in Kisan Vikas Patra will earn interest at the rate of 7.20 percent. Before the increase in interest rates, under this scheme, investors used to get interest at the rate of 7 per cent for 123 months of investment. After the new change, now the maturity will be in 10 years.
Start investment from Rs 1000
You can start with just Rs 1000 in the Kisan Vikas Patra scheme of the post office. After this, investments can be made in multiples of Rs.100. Significantly, there is no maximum limit for investment in this scheme. Under this, single and joint accounts can be opened. Along with this, the investor also gets the facility of nominee.
How can I open an account?
The account of a minor below 10 years of age can also be opened in the Kisan Vikas Patra Yojana. However, an adult can open the account on their behalf and the account is transferred in their name as soon as the minor attains the age of 10 years. It is very easy to open an account in this.
For this, the application will have to be filled in the post office along with the deposit receipt and then the investment amount will have to be deposited in cash, check or demand draft. You will also have to attach your identity card with the application. After this, you will get the certificate of Kisan Vikas Patra as soon as you submit the application and money.
