Post Office Kisan Vikas Patra Yojana is suitable for those investors who want to avoid risk and are looking for a stable and safe investment option for the long term. This scheme not only keeps the capital safe but also provides financial stability by increasing it over time.
Post Office: If you want to invest your savings in a safe place and also want to get good returns, then the Kisan Vikas Patra Scheme (Kisan Vikas Patra – KVP) of the post office can be a great option for you. This scheme is run by the Government of India, so the investment in it is completely safe and there is no effect of market fluctuations.
The objective of the Kisan Vikas Patra Scheme is to motivate the citizens of the country to save and invest. In this scheme, you have to invest a lump sum amount, which doubles after a certain time. Currently, this scheme is getting 7.5% annual compound interest and your deposit doubles in 115 months (ie 9 years 7 months).
You can start investing from Rs 1000
The most special thing about this scheme is that you can start investing from a minimum of Rs 1,000 and there is no maximum investment limit. You can invest as much money as you want in multiples of Rs 100. You can open this account in single or joint name and a child above 10 years of age is also eligible for this.
You will get guaranteed Rs 10 lakh in return of Rs 5 lakh
For example, if a person invests Rs 5 lakh in Kisan Vikas Patra Yojana, then this amount will double to Rs 10 lakh in 115 months. The interest received during this period is added on the compounding method, which makes the return even more attractive. Although the interest received in this scheme is taxable and there is no exemption on it under Section 80C of the Income Tax Act, but its security and assured returns make it popular in both rural and urban areas.
Post Office Kisan Vikas Patra Scheme is suitable for investors who are risk averse and are looking for a stable and safe investment option for the long term. This scheme not only protects the capital but also provides financial stability by growing it over time.
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