Post Office Kisan Vikas Patra: Post office schemes are definitely a long-term investment, but there is no risk factor in it because government guarantee is given in it. These schemes are for those who prefer traditional investments and have a long-term outlook.
Post Office Kisan Vikas Patra: Post office schemes are for those who prefer traditional investments and have a long-term outlook. Investing in this is such a safe way that you can secure the future of yourself and your family. Post office schemes are long term investments. There is more profit in the stock market, but there is also a lot of risk. In such a situation, investing in the post office can be a way for you to earn profit without any risk.
Zero risk investment
If you want to invest with risk, then there are many types of investment options available accordingly. If you have more risk appetite then you invest in equities like mutual funds, but if you are looking for a safe and zero risk investment then Post Office Saving Schemes (Kisan Vikas Patra) can be a better option.
Government guarantee is available on post office schemes, so there is no risk factor in it at all. Also a guaranteed return on investment is also available. Here we are going to tell you about one such post office scheme, whose name is Kisan Vikas Patra.
Know what is Kisan Vikas Patra (KVP)
Kisan Vikas Patra is a scheme whose duration is 124 months i.e. 10 years and 4 months. If you invested in this scheme from 1st April 2022 to 30th June 2022, 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%. That is, profit is also good according to the risk in it.
You can invest unlimited
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 put 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 and Aadhaar are mandatory
There is also the risk of money laundering as there is no investment limit in this particular scheme, so the government has made PAN card mandatory in 2014 for investments above Rs 50,000. If someone invests 10 lakhs or more then income proof will also have to be submitted, such as ITR, salary slip and bank statement etc. Apart from this, you also have to give your identity card.
Can buy in three ways
1. Single Holder Type Certificate: This type of certificate is purchased for self or for a minor
2. Joint A Account Certificate: It is issued jointly to two adults. Payment is made to both the holders, or whoever is alive.
3. Joint B Account Certificate: It is issued jointly to two adults. pays to either of the two or is alive
Features of Kisan Vikas Patra
1. Guaranteed returns are available on this scheme, it has nothing to do with market fluctuations, so it is a very safe way of investment. After the end of the period, you get the full amount
2. It does not get tax exemption under section 80C of Income Tax. The return on this is fully taxable. There is no tax on withdrawal after maturity
3. You can withdraw the amount after maturity i.e. 124 months, but its lock-in period is 30 months. Before this, you cannot withdraw money from the scheme, unless the account holder dies or there is a court order
4. Investment can be made in it in denominations of 1000, 5000, 10000, 50000.
5. You can also take loan by keeping Kisan Vikas Patra as collateral or as security.