If you are someone who is planning to invest but can’t decide where to go, then we got you covered. The Kisan Vikas Patra (KVP), a scheme that provides you with the best interest rates without any bar of maximum investment amount. Here is a detailed analysis on the Kisan Vikas Patra, that will help you make an informed decision.
What is Kisan Vikas Patra in Post Office?
Kisan Vikas Patra is a perfect investment plan offered by the Indian Post Office to get better returns on your investment in the safest way. If you are in search of an investment opportunity that will help you double your investment with not much risk, then KVP is what you require!
Kisan Vikas Patra investment can be doubled
Here’s the scoop: If you invest a KVP, your money will double in approximately 9.5 years or 115 months. For instance, an investment of Rs 5,000 at the moment means that at the end of the period when the facility matures, you will have Rs 10,000. This is a gradual method of witnessing your money pile up in your account.
Kisan Vikas Patra interest rate
KVP has a guaranteed fixed return rate of 7.5 per cent which is compounded on an annual basis. This implies that your money becomes more valuable over time, it is easier to create anticipation for the future. You can begin with Rs 1,000, and there is nothing as a large amount, meaning you can invest any amount you wish.
The Kisan Vikas Patra is a great investment if you want something safe and long-term. Below are 2 best features of this investment scheme.
KVP Tax Benefits
KVP certificates can be purchased from any post office and are available in both paper and electronic (e-KVP) forms. Moreover, the money invested up to Rs 15 Lakh also come under the preview of section 80C of the Income Tax Act, which can actually assist you in saving taxes.
Premature Closure and Lock-In
KVP has a lock-in period of 2 years and 6 months. Early withdrawal is only possible if the holder dies or if the request is in compliance with a court order.
All in all, KVP is one of the safest ways to invest; it offers steady gains and maintains a tax shield besides having a relatively low-risk element associated with it.
Post Office Kisan Vikas Patra investments can be doubled in 9 years and 7 months, yes, you heard it right. Explore the eligibility and benefits of the Kisan Vikas Patra scheme. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
