Post Office Scheme: There are many such big occasions in life which require more deposits. This can range from marriage to buying a house, etc. In such a situation, if you are planning a log term investment, then the Post Office Kisan Vikas Patra (Kisan Vikas Patra Scheme) scheme can prove to be beneficial for you. The scheme is considered to be quite reliable, so there is no fear of sinking money. In this scheme, the money doubles over a fixed period on investment. The policy minimum investment is 1000 rupees, while there is no maximum investment limit.
What is KVP
The Kisan Vikas Patra Yojana is operated by the government and hence it is considered very safe from the point of view of investment. KVP certificates can be purchased from post offices. Investing here guarantees better returns. Your invested money in Kisan Vikas Patra Yojana doubles in 124 months. For example, if you invest one lakh rupees in it, then you will get two lakh rupees instead. Currently its interest rate is 6.9 percent.
Also Read: Post Office Scheme: Invest Rs 100 and get Rs 20 lakh after 5 years
It is necessary to take care of these things for investment
1. The age of the investor investing in Kisan Vikas Patra should not be less than 18 years.
2. It can run in any form, single and joint. If the minor’s account is to be opened, it will have to be handled by the guardian.
3.KVP has certificates worth 1000, 5000,10,000 and up to Rs 50,000, which can be purchased.
Application process
For investment in Kisan Vikas Patra, you can open the account by going to the post office and filling the form. If you want, you can also download the form online. In this, write the number of purchase amount that you want to invest. Also fill the name, address and other details of the applicant. Select “A” or “B” membership to open a KVP account in single or joint. If you want to make someone a nominee in it, then also fill in its details. For the KYC process along with the form, proof of identity, Aadhar card, PAN card, Voter ID card, driving license, passport, KVP application form and address proof and death of birth certificate will have to be photocopied.
