Kisan Vikas Patra is one of the popular schemes of the Post Office. Recently, the central government has increased the interest rates of this scheme.
new Delhi. Kisan Vikas Patra is one of the popular schemes of the Post Office. Recently, the central government has increased the interest rates of this scheme. Along with this, the interest rates of Deposit Schemes like NSC and Senior Citizen Saving Schemes have also been increased.
In post office schemes, people get a guarantee of security of the investment amount along with excellent returns. For this reason, people choose the post office scheme for investment.
Investment in Kisan Vikas Patra can be started with just Rs.1000. This post office scheme matures in 123 months. So let’s know everything about it…
Interest rate 2023
The KVP interest rate applicable in the first quarter (January-March) of 2023 was announced on December 30, 2022. The new interest rate is 7.2%. The Central Government revises the interest rate of Kisan Vikas Patra (KVP) on a quarterly basis. The next revision of KVP interest rate will be by the end of March 2023.
Guaranteed Returns: KVP Deposit is offered by Post Office. This is a guaranteed return scheme. Your deposit is completely safe in this scheme.
Money Doubles in 120 Months: At 7.2% interest, the amount invested in KVP account will double in 10 years.
Deposit Limit: The minimum amount you can deposit is Rs. is 1000. Investors can currently buy certificates of Rs 1000, Rs 5000, Rs 10000 and Rs 50000. Please tell that there is no maximum limit for KVP certificate.
Account for Minors: Minors above 10 years of age can hold KVP account in their own name.
Premature closure: Premature closure of KVP account can be done after 2 years and 6 months from the date of deposit.
Documents required for Kisan Vikas Patra: ID proof for KYC, which includes Aadhaar Card / PAN / Voter ID / Driving License / Passport, Address Proof Birth Certificate should be there.
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