Post Office KVP: The facility of Kisan Vikas Patra (KVP) can be availed in more than 1.5 lakh post offices of the country. You can buy Kisan Vikas Patra by visiting any of these post offices. In this scheme of the post office, there is also a facility to transfer the account from one branch to another.
Post Office Saving Scheme: Post Office gives many good options for people making small savings. One of these options is Kisan Vikas Patra. The most important thing about this scheme is that compound interest is available on it. With this, this scheme not only gives full guarantee of returns but also gives more benefits than other options. Your money invested in this scheme becomes double in 124 months.
Branch transfer option is available
According to the website of India Post, the facility of Kisan Vikas Patra (KVP) can be availed in more than 1.5 lakh post offices of the country. You can buy Kisan Vikas Patra by visiting any of these post offices. In this scheme of the post office, there is also a facility to transfer the account from one branch to another. That is, if for some reason your city changes, then you can transfer it to the nearest post office of the new city.
Cash can be made anytime after two and a half years
This scheme gives higher returns than any FD. The maturity period for this is 124 months, but you can encash your investment even earlier if needed. There is only one condition in this scheme that it comes with a lock-in period of 30 months. That is, you can cash the Kisan Vikas Patra anytime after two and a half years of investing.
Tax exemption is also available with returns
There is another advantage of investing money in Kisan Vikas Patra. This scheme also provides tax exemption. Under Section 80C of Income Tax, a provision has been made for exemption from tax on the investment made in Kisan Vikas Patra. If your age is 18 years or more then you can take advantage of Kisan Vikas Patra. Apart from single, there is also an option to open a joint account in this.
There is no limit on maximum investment
This is a one time investment scheme. That is, you do not need to put money in it every month or every year. You can invest at least 1000 rupees in this. There is no maximum limit for investment in this. This means that you can invest any amount in Kisan Vikas Patra at a time.
