Kisan Vikas Patra is a scheme run by the government and investing in it gives double returns at the time of maturity. That is, if you want to double your money, then you can invest in this scheme.
Along with saving money, investing is considered equally important. Many people save money but do not invest. They do their own harm by doing so. The simplest of investing means that you are increasing your savings more.
Many people do not invest because they worry about the loss of money. If you are planning for safe investment, then you can invest in the ‘Kisan Vikas Patra’ scheme of the post office. It is a government-run scheme and investing in it gives double returns at the time of maturity. That is, if you want to double your money, then you can invest in this scheme.
There are certain investment conditions in this scheme that a person can invest only after fulfilling it. It is a long-term investment scheme, ie it returns after 124 months. Any Indian citizen can invest a minimum of Rs 1000 in it. There is no ceiling on investment in Kisan Vikas Patra.
Certificates up to Rs 1000, Rs 5000, Rs 10,000 and up to Rs 50,000 are issued in this scheme. At the same time, apart from a single account, the facility of a joint account is also available. It is mandatory that the investee be at least 18 years of age. Single account can be opened.
The Kisan Vikas Patra is currently receiving an interest rate of 6.9 percent. For example, if you invest 2 lakh rupees in this scheme today, then after 10 years you will get a return of 4 lakh rupees. That is, your money will double after this time interval. In this way, you can invest in this scheme as per your wish as there is no limit for maximum investment.
Please tell that it also has the facility of a joint account. To open this account, you have to go to any post office branch and fill the form and submit it.
As a proof of identity for the KYC process, you should have Aadhaar card, PAN card, Voter ID card, driving license and one of the passports documents. Apart from this, you should have Kisan Vikas Patra application form, address proof and death of birth certificate.
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