Post Office Kisan Vikas Patra – Everyone wants to invest their savings in a safe and high return place. There is one such scheme of the post office, the special thing about which is that by investing in it, your amount doubles in just this time… To know the complete details related to this scheme, read the news completely-
Everyone wants to invest their savings in a safe and high return place. One such scheme of the post office is Kisan Vikas Patra (KVP). The special thing about this scheme is that by investing in it, your amount doubles in just 115 months. This is a good option for those who want to increase their hard earned money while keeping it safe. Let us know about this scheme in detail in the news below-
Money doubling scheme-
Post office’s Small Saving Schemes are quite popular in terms of strong returns without risk. In this, Kisan Vikas Patra (KVP) can prove to be an excellent option. By investing in this government scheme, the money doubles in just 115 months (Double Income Scheme). In this, you can invest at least Rs 1000 in multiples of 100. The special thing is that there is no maximum limit in this. You can invest as much money as you want.
This much interest is available on investment-
This Post Office Scheme gives quarterly interest, while KVP gives 7.5% annual interest. In this government scheme, an account can also be opened in the name of children above 10 years of age. This can be a good investment option for children, in which interest is received at regular intervals.
5 lakh rupees will become 10 lakhs like this-
Now let’s talk about how the money doubles by investing in this government scheme. So its calculation is very easy. Suppose an investor invests Rs 5 lakh in the Kisan Vikas Patra Scheme and stays in this scheme till maturity i.e. 115 months, then he will get Rs 5 lakh only from interest on the basis of 7.5 percent interest. This means that investors will get Rs 10 lakh on maturity. It is worth noting that according to the information available on the post office website, the interest on the amount invested in Kisan Vikas Patra is calculated on a compounding basis.
It is worth noting here that the amount received by the investor also includes tax. The government had first reduced the maturity period of Kisan Vikas Patra from 123 months to 120 months and then it was reduced to 115 months. That is, the benefit of the scheme is available in less time than before.
How many accounts can be opened in KVP-
Under the Kisan Vikas Patra Scheme, both single and double accounts can be opened. Along with this, there is no limit set for the number of accounts a person can open. Meaning you can open 2, 4, 6 or as many Kisan Vikas Patra accounts as you want.
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