Post Office KVP Yojana: Money will double in just 115 months, know full details
The Kisan Vikas Patra Scheme (KVP) of the Post Office is a reliable option to keep your money safe and give guaranteed returns.
At the current 7.5% interest rate, this scheme doubles your money in 115 months (9 years 7 months). If you want safe and fixed returns, then this scheme can prove to be a great option for you.
Kisan Vikas Patra Scheme: What is special?
This is a small savings scheme run by the post office, which gives guaranteed double returns to investors. This scheme is especially beneficial for those who want to get safe and assured benefits in future by investing a lump sum amount.
How to start investing?
Minimum investment amount: Rs. 1,000.
Investment multiplier: You can invest in multiples of 100.
Maximum limit: There is no maximum limit.
Investments above Rs.50,000: PAN card is mandatory for this.
Aadhaar Card: Required for account opening and identification.
Return Calculation: How much profit will you get?
Your investment will double in 115 months. For example:
Invest Rs.50,000: You will get Rs.1,00,000 after 115 months.
Invest Rs.1 lakh: You will get Rs.2 lakh after 115 months.
Invest Rs.5 lakh: You will get Rs.10 lakh after 115 months.
Your investment in this scheme remains safe and is not affected by market fluctuations.
Who can invest?
The following eligibility criteria are required to invest in this scheme:
Age Limit: The applicant must be 18 years of age or above.
Citizenship: The investor must be a citizen of India.
Joint Account: A maximum of 3 people can open a joint account.
Account in the name of children: Investment can also be made in the name of children above 10 years of age.
Tax Related Information
Investment in Kisan Vikas Patra Yojana is taxable.
Income tax has to be paid on interest income and maturity amount.
However, the basic purpose of investment is safe and guaranteed returns, due to which this scheme is still popular.
Benefits of investment
Guaranteed return: The interest rate is fixed.
Protection from market risk: This scheme is not affected by market fluctuations.
Flexibility: Option to join the scheme at any time.
Conclusion
The Kisan Vikas Patra scheme of the post office gives guaranteed returns along with keeping your investment safe.
If you want to secure and double your money, then this scheme can be a reliable option for you. Along with this, this scheme is ideal for those who want to secure their future by investing for the long term.
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