Post Office KVP : Your investment amount in KVP i.e. Kisan Vikas Patra can double in 115 months. Know full details here. Know benefits and eligibility kisan vikas patra post office schemes.
At present, investments are made in many types of schemes to earn money. In this context, if you are looking for such a scheme in which you can get good interest from long term investment, then Kisan Vikas Patra (Kisan Vikas Patra-KVP) can prove to be a good option for you. This is considered a good savings scheme of the post office. The special thing is that the amount invested in KVP doubles in 115 months. Read all the information from interest to benefits here.
Who can open KVP account
Under Kisan Vikas Patra Yojana, any adult person can open a single or joint account. Apart from this, children above 10 years of age can also open KVP account in their own name. Parents can open an account on behalf of a minor or a mentally unstable person.
Start investing from Rs 1000
A minimum investment of Rs 1000 and in multiples of Rs 100 can be made in Kisan Vikas Patra Yojana. Note, one of its special features is that you can invest as much money as you want in KVP and there is no limit on opening accounts.
Investment amount will double in 115 months
7.5% interest is offered annually on KVP account. By investing in this, your amount will double in 115 months. This means if you invest Rs 1 lakh, you will get Rs 2 lakh after 115 months. Whereas, if you deposit Rs 10 lakh in KVP account then it can be converted into Rs 20 lakh.
What are the benefits of investing in KVP?
- Kisan Vikas Patra Scheme is not affected by the ups and downs of the stock market.
- There is a government guarantee on the PO scheme, so you do not need to worry about whether you will get returns or not.
- KVP account can be opened in any post office.
- KVP account matures in 115 months but you will continue to get interest till you withdraw money from the account.
- You can take a secured loan through Kisan Vikas Patra.
- While opening Kisan Vikas Patra account, documents like Aadhar card, age certificate, passport size photo, KVP application form etc. are required. You can also transfer your KYP account.