New Delhi: India Post offers a range of investment schemes offering impressive interest rates while ensuring safety to Indians. One such scheme offered by India Post is Kisan Vikas Patra (KVP), a long-term investment instrument that offers an opportunity to double the investment in a few years. Investors usually invest their money in Kisan Vikas Patra for their future or education or marriage of their children, as the risk is almost zero in this savings scheme offered by India Post.
When will your money in Kisan Vikas Patra Yojana double?
Currently, India Post is offering 6.9 percent annual interest to investors who have invested their money in the Kisan Vikas Patra Scheme. With the current interest rate, your investment in Kisan Vikas Patra Yojana can double in 124 months or around 10 years. For example, your investment of Rs 10 lakh will double to Rs 20 lakh in 124 months.
All you should know about Kisan Vikas Patra Scheme
In Kisan Vikas Patra Yojana, you can invest as little as Rs 1000. There is no upper limit for investment in this India Post Scheme. The post office provides you certificates in the denominations of Rs 1000, Rs 2000, Rs 5000, Rs 10,000 and Rs 50,000.
Investors above the age of 18 years can invest in Kisan Vikas Patra Yojana. The post office also offers investors the opportunity to open single and joint accounts in this scheme, with a maximum number of three persons. Read also: Boeing 737 cargo plane makes emergency landing in Pacific Ocean, pilots rescued
Under Kisan Vikas Patra Yojana, parents or guardians can also open investment account in the name of their children. Investors can also select the nominees in the schemes. Read also: Microsoft’s Blue Screen of Death will turn black in Windows 11
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