Post Office- In this scheme, you can double it by investing money for a few months. It reduces the risk as well as saves money.
New Delhi. The post office means that the money doubling scheme is run by the post office, in which you can double money by investing money for a few months. In this, along with reducing the risk, money is also saved. Let us tell you that many types of schemes are run by the Post Office for the customers. Post Office Kisan Vikas Patra is one of these. Under this scheme, you can double your money in 124 months.
Let us tell you that Kisan Vikas Patra Scheme is a one time investment scheme of the Government of India, under which your money is doubled in a fixed period. You can take it from any post office and government banks in the country. Let me tell you how…
How much interest will you get?
The interest rate for KVP in the first quarter of FY 2021 has been fixed at 6.9 percent. Here your investment will double in 124 months. If you invest Rs 1 lakh in lump sum, you will get Rs 2 lakh on maturity.
Minimum investment of Rs.
You have to invest at least one thousand rupees in this scheme. At the same time, there is no limit on the maximum investment. You get this in the form of a certificate, in which certificates are given up to 1000, 2000, 5000, 10000 and 50000 rupees. In this, you get a guarantee from the government.
Who can open account
Certificate in KVP can be purchased by any single adult, maximum three adults in a joint account, minor above the age of 10 years. Apart from this, it can be purchased by an adult on behalf of a minor and a guardian on behalf of a weak minded person.
How can I open an account?
For Kisan Vikas Patra Scheme, one has to go to the post office. The applicant must have an identity card such as Aadhar Card, PAN Card, Voter ID Card, Driving License and Passport. In this scheme, account can be opened in both single and joint mode. At the same time, parents can also get an account opened for their young child.
Know what is its specialty-
>> There is a single holder type certificate. You can buy it for yourself or for a minor.
>> Apart from this, joint account certificate can also be taken i.e. it is issued jointly to two adults. Payable to both holders, or whoever is alive
>> Joint B Account Certificate: It is issued jointly to two adults. pays to either one or the one who is alive
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