Post Office Small Saving Scheme: If you are also planning to invest in a government scheme, then definitely take a look at this scheme of the post office. In this scheme, you will get profit with guarantee. Let us know about this scheme.
Post Office Small Saving Scheme: If you want to make a safe investment in the midst of huge fluctuations in the stock market, then the post office scheme is of great use to you. Here you can earn huge profits at zero risk. If you want long term investment under the Post Office Savings Scheme, then the Kisan Vikas Patra (KVP) scheme of the post office is the best. In this, your money will be double and there will be no risk. Let us know about this superhit scheme.
What is Kisan Vikas Patra Scheme
Kisan Vikas Patra Scheme is a one time investment scheme of the Government of India, under which your money is doubled in a fixed period.
Let us tell you that it is present in all the post offices and big banks of the country.
Its maturity period is now 124 months.
At least 1000 rupees have to be invested in this, while there is no limit on the maximum investment under this.
Kisan Vikas Patra (KVP) is invested in the form of certificates, which you can buy in the form of certificates of Rs 1000, Rs 5000, Rs 10,000 and Rs 50,000.
Required documents
There is no investment limit in this scheme, so there is a risk of money laundering.
Therefore, the government has made PAN card mandatory for investments of more than Rs 50,000 in it.
Along with this, Aadhaar is also to be given as an identity card.
If you invest 10 lakh or more in this, then you will also have to submit income proof, such as ITR, salary slip and bank statement.
buy certificate like this
1. Single Holder Type Certificate: It is purchased for self or for a minor
2. Joint A Account Certificate: It is issued jointly to two adults. Payment is made to both the holders, or whoever is alive.
3. Joint B Account Certificate: It is issued jointly to two adults. pays to either one or the one who is alive
Features of Kisan Vikas Patra
There are many specialties of Kisan Week Patra Scheme.
In this, returns are given with guaranteed, there is no effect of market fluctuations on it.
In this, after the end of the period, you get the full amount.
In this scheme, tax exemption is not available under section 80C of income tax.
The return on this is fully taxable. There is no tax on withdrawal after maturity.
You can withdraw the amount on maturity, but its lock-in period is 30 months.
Before this, you cannot withdraw money from the scheme, unless the account holder dies or there is a court order.
It can be invested in denominations of 1000, 5000, 10000, 50000.
You can also take loan by keeping Kisan Vikas Patra as collateral or as security.
