Post Office Special Scheme: Post Office keeps launching small saving schemes according to the needs of every section. Today we are going to tell you about a small savings scheme, Kisan Vikas Patra.
KVP Scheme: If you are looking for a risk free investment scheme then Kisan Vikas Patra can be a great option for you. It gives customers excellent interest and doubles their money in the long term.
Under the Kisan Vikas Patra Scheme, you are getting the benefit of 7.5 percent interest rate on compounding on the deposit amount in the quarter from October to December. The special thing about this scheme is that you can invest as much amount as you want in it.
The post office has not set any upper limit on the amount to be invested. You can invest a minimum amount of Rs 1000 in the scheme.
If you invest Rs 10 lakh in this scheme, you can get Rs 20 lakh in a total of 9 years 7 months i.e. 115 months.
Post office gives the option to open this account both single and joint. Joint account can be opened by three people together.
If an account holder dies before maturity, then the amount deposited in the account will be given to the nominee or heir. Whereas if you want to close the account before maturity, then you can do so after 2 years and 6 months.
