Kisan Vikas Patra: If you are looking for a safe investment option, then a special saving scheme of the post office is Kisan Vikas Patra.
The security of your money invested in this scheme will also be guaranteed. Not only this, the money invested in this scheme also becomes double. Let us understand the important things related to the scheme here.
Who can invest money
Anyone can invest money in it either in the name of an individual or a minor. Two adult farmers can also run a joint account of Vikas Patra. Nominee can also be included in this scheme. Nominee is the person who will get the money of Kisan Vikas Patra if the account holder is not there.
At least that much money will start investing
You have to start investing at least Rs 1000 in the Kisan Vikas Patra of the post office. According to the official website of India Post, the maximum limit is not fixed.
How much is the interest on the scheme
At present, an interest of 6.9 percent is being received annually on investment in the post office’s Kisan Vikas Patra. In this, you can invest any amount in the multiple of 100.
Double also becomes money
Your invested money in this post office scheme gets doubled. Your money deposited in Kisan Vikas Patra doubles in 124 months i.e. 10 years and 4 months.
Can transfer account to someone else’s name
Post Office also allows you to transfer your Kisan Vikas Patra account to any other person. You can also transfer your account to another post office i.e. post office.
