Post Office Kisan Vikas Patra: Post Office is running many small savings schemes. Many of these schemes are quite famous. One such scheme is Kisan Vikas Patra. If you are planning to invest then you can choose this
Post Office Kisan Vikas Patra: Post Office is running many small savings schemes. Many of these schemes are quite famous. One such scheme is Kisan Vikas Patra. If you are planning to invest then you can choose it. This scheme of post office has now become very beneficial. The amount invested in it doubles in 115 months. The government is giving more than 7 percent interest on investment.
How is interest calculated?
If you are planning to invest then you can choose it. This scheme of post office has now become very beneficial because the government is giving more than 7 percent interest on its investment. The money invested in Kisan Vikas Patra will double in 115 months. In January 2023, the central government had reduced the maturity period from 123 months to 120 months, but now this time has further reduced. Now the investment of investors will be doubled in less time. Now it will take less than 115 months.
How is interest calculated?
Interest is being received at the rate of 7.5 per cent annually on the amount invested in Kisan Vikas Patra. Investment in this scheme can be started from one thousand rupees. Thereafter, investments can be made in multiples of Rs.100. There is no maximum investment limit in this. You can also invest by opening a joint account. Along with this, the facility of nominee is also available.
How to open an account?
Under the Kisan Vikas Patra Yojana, the account of a minor below 10 years of age can be opened. However, the guardian can open the account on his/her behalf. As soon as the child turns 10 years old, the account is transferred in their name. Opening an account for this scheme is easy. For this, fill the application form and submit it to the post office along with the receipt. Then the investment money has to be deposited through cash, check or demand draft. Explain that Kisan Vikas Patra is a small savings scheme. The government reviews and changes the interest rate every three months.
