Kisan Vikas Partra (KVP): If you are planning for investment, then you can invest in the Kisan Vikas Patra Scheme (KVP) of the post office. KVP scheme is best for long term investment.
Kisan Vikas Partra (KVP): There are many people doing jobs, who are planning for investment. But they stop because they are in danger of drowning their money. If you are also one of them, then you can invest in the Kisan Vikas Patra Scheme (KVP) of the post office. Kisan Vikas Patra (KVP) scheme is best for long term investment. Your deposited money in this will always be completely safe. Also, KVV claims its customers to double the amount deposited under this scheme in 10 years and 4 months (124 months). Let us know about this post office scheme.
What is Kisan Vikas Patra Scheme?
The duration of this scheme is 124 months i.e. 10 years 4 months. If you have invested in this scheme from 1st April 2021 to 30th June 2021, then the lump sum amount deposited by you doubles in 10 years and 4 months. On Kisan Vikas Patra, you get an annual compound interest of 6.9%. (Post Office Savings Scheme) Investment is made in the form of certificate in Kisan Vikas Patra (KVP). There are certificates up to Rs 1000, Rs 5000, Rs 10,000 and Rs 50,000 which can be purchased.
Who can open an account in KVP
Under this, any Indian person whose age is more than 18 years can open his account in it. However, there is no upper age limit for opening an account. But under this, KVP certificate can also be purchased in the name of a minor. NRI is not eligible for this scheme.
Investment limit in Kisan Vikas Patra
You can buy Kisan Vikas Patra Certificate with a minimum investment of Rs 1,000, there is no maximum investment limit in this scheme, that is, you can invest as much money as you want in this scheme. This scheme was started in 1988, then its objective was to double the investment of farmers, but now it has been opened to all. Now it can be said that Kisan Vikas Patra has nothing to do with farmers at present.
PAN-Aadhaar has to be given to open an account
With no investment limit, there is also the risk of money laundering, so the government made PAN card mandatory in 2014 for investments above Rs 50,000. If you invest 10 lakhs or more, then income proof will also have to be submitted, such as ITR, salary slip and bank statement. Apart from this, Aadhaar is also to be given as an identity card.
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