Kisan Vikas Patra: Even today, there is a large population in the country who does not like to invest money in the stock market because there is a lot of risk of losing money there. In such a situation, many investors like to invest their money in Post Office Scheme, LIC and Bank FD. If you also want to get big returns by investing long term, then we are going to give you information about a great Post Office Small Saving Schemes. The name of this scheme is Kisan Vikas Patra. This scheme is free from market risk and helps in giving huge returns to the investors. If you want to invest in this scheme, then we are giving you information about the details of the scheme-
Compounding interest rate is available on Kisan Vikas Patra-
The special thing about the Kisan Vikas Patra Scheme of the Post Office is that you get the benefit of compounding interest rate on it. You can start investing in this scheme with Rs 1,000. There is no maximum investment limit in this scheme. At present, you get an interest rate of 6.9% (KVP Rate of Interest) on this scheme. You can buy this scheme from any post office.
Investment and returns
By investing in this scheme, you will get double amount in 10 years 4 months i.e. 124 months. For example, if you invest Rs 10 lakh in this scheme in the year 2022, you will get Rs 20 lakh on maturity in the year 2032. There is no fear of drowning by investing money in this scheme because the government guarantees it.
Important information related to Kisan Vikas Patra
- You must be at least 18 years of age to invest in this scheme.
- Senior citizens can also invest in this.
- A person below the age of 18 years can also invest in the scheme, but it can be looked after by an adult.
- After investing in this scheme, you can withdraw money before maturity.
- If you withdraw money within one year, you will have to pay a penalty.
- On the other hand, after withdrawing the deposit after 2 years, you will not have to pay any penalty, but your interest will be deducted.