New Delhi: These days there are several investment options available in the market. However, the daunting task is to choose the best one. Depositors, who want 100 per cent security and guaranteed returns on their investment, can opt for the Kisan Vikas Patra (KVP) scheme of the Post Office. This plan guarantees to double your money in 115 months (8 years and 4 months).
Post Office’s Kisan Vikas Patra Scheme is considered to be a great saving option for those looking for secure and stable returns. The scheme is a small savings instrument that will facilitate people to invest in a long term savings plan. It is a popular investment scheme as it has low-risk and also guarantees assured returns.
Kisan Vikas Patra (KVP) Features: Interest rates and more
Interested investors can apply for Kisan Vikas Patra yojana at Post Office branches across the country. The scheme assures guaranteed Returns. Currently, the KVP scheme offers 7.5 per cent annual interest. The present interest rate will double your investment in 100 months.
Minimum and Maximum Investment: The KVP scheme allows depositors to invest a minimum sum of Rs 1,000, and there is no limit on maximum investment. This flexibility makes it suitable for both small and large investors.
The following documents are required to open an account in the KVP scheme: Aadhaar card, age certificate, passport size photo, KVP Application Form (You can get this from Post Office)
Any adult person, whether single or having a joint account, can open this account. Children above 10 years of age can also open an account in their own name. However, NRIs are not eligible for this scheme. TheKVP Certificate can be purchased by an adult for himself or on behalf of a minor or by two adults. The scheme allows Certificate to be transferred from one person to another and from one post office to another. The KVP Certificate can be encashed after 2 years and 6 months from the date of issue.
KVP Premature withdrawal facility
If the depositor wishes for premature withdrawal from the scheme, the individual can withdraw it after 2 years and 6 months of account opening. Premature withdrawal is allowed in special circumstances, such as death of the account holder or court order.
The Post Office Kisan Vikas Patra (KVP) scheme offers a secure investment option with guaranteed returns. Your investment doubles in 100 months (approximately 8 years and 4 months) at a current interest rate of 7.5% per annum. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
