This post office scheme is currently getting interest of 6.9 percent and you can start this investment from Rs 1000.
If you want to get double returns in the midst of continuously falling interest rates, then you can invest in Kisan Vikas Patra (KVP) scheme. In this post office scheme, not only your money is safe, but on maturity i.e. 124 months (10 years two months) you also get double money. The interest rate for this scheme has been fixed at 6.9 percent.
Kisan Vikas Patra is a one-time scheme, which is run by the Government of India. This is mainly for farmers and low income people so that they can save their money in the long run.
You can invest in this scheme through post offices and big banks across the country. One can start investing in this with a minimum of Rs 1,000, while there is no maximum limit. If you invest Rs 50,000 in the scheme, you will get Rs 1 lakh on maturity.
Even after two and a half years, you can withdraw
Kisan Vikas Patra as a certificate. In this, certificates are given up to Rs 1,000, 2,000, 5,000, 10,000 and 50,000, the interest rate of which is fixed at the time of issuance. However, there may be changes in it as per the government rules. Although the maturity period in KVP is 124 months, but you can withdraw after 2.5 years if needed.
Need these documents
As per the KVP rules, it can be bought by an adult on behalf of a minor and a guardian on behalf of a person of weak mind. Identity card like Aadhar Card, PAN Card, Voter ID Card, Driving License and Passport are required to open a KVP account.
Return on Withdrawal after Lockin Period
Time (in Years) Returns (in Rupees)
- After 2.5 Years & Before 3 Years 1,154
- After 5 Years & Before 5.5 Years 1,332
- After 7.5 Years & Before 8 Years 1,537
- After 10 Years & Maturity
- 2,000 on first 1,774 maturity (12 months)
(calculated on investment of Rs 1,000)
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