Post Office Scheme: Whether an investor wants to invest his hard earned money in such a place which also gives better returns and at the same time the investment is also safe and there is no risk there.
The Kisan Vikas Patra Scheme of the Post Office can prove to be very beneficial for safe investment and better returns. This is one of the Post Office Savings Schemes, which gives guaranteed returns. Kisan Vikas Patra is getting interest at the rate of 6.9 percent.
According to the information given in the website of India Post Office, the maturity period of this post office scheme is 124 months. Investor’s money will double in this period. That is, investors’ money doubles in 10 years 4 months. The minimum investment in this is Rs 1000. There is no maximum investment limit. Government guarantee is available on post office schemes, that is, there is no risk in it at all.
Issued as a certificate
Investments are made in the form of certificates in Kisan Vikas Patra (KVP). You can buy this certificate for Rs 1,000, Rs 5,000, Rs 10,000 and Rs 50,000. These certificates can be transferred from one person to another.
Let us tell you that if someone has invested in this scheme during the January to March 2020 quarter, they will get an annual interest rate of 7.9 percent. At present, 6.9 percent interest is available on opening an account under Kisan Vikas Patra. The interest rate in Kisan Vikas Patra was reduced from 7.6 percent to 6.9 percent in April to June 2020. Then its interest rate remains stable.
No tax exemption
It is very important to know one thing that you do not get any tax exemption benefit on investment in Kisan Vikas Patra. As available in PPF (Public Profit Fund) or NSC (National Saving Certificate).
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