By investing in Post Office KVP Scheme, investors can double their money in just 115 months, that is, you can get double the money in 9 years and 5 months.
Post Office KVP Scheme: Nowadays everyone saves some money from their earnings, so that they can live their future life well. People have many options for saving in which they can invest money, including getting FD in the bank, investing in mutual funds, investing in the stock market, and many other options are available to the people. But people want their invested money to be safe and they get it with high returns, so in such a situation people trust the post office more, because it comes under a government savings scheme and the money deposited in it is not only safe but you get it with double returns.
That’s why most people deposit their money in the post office. We are going to tell you about one such small savings scheme of the post office in which you can get double the money in just 9 years 5 months i.e. 115 months. So let’s know how much money you can deposit in this scheme and how much return you will get in it.
What is Post Office KVP Scheme ?
Kisan Vikas Patra Scheme of Post Office is a scheme under Small Saving Scheme. Your money invested in this scheme comes with safe returns. In this, you can invest a minimum of ₹ 1000 and no maximum limit has been set. On investing more than 50000, you are required to provide PAN card and on investing more than 10 lakhs, you are required to provide income certificate. Your money deposited in this scheme comes with double returns.
7.5% interest is available
In Post Office KVP Scheme you get a great interest rate, in this you get interest at the rate of 7.50% per annum. If you invest ₹1,00,000 in this scheme, then after 115 months you get ₹2,00,000 on maturity. Any Indian citizen can apply in this scheme, because it is a government supported scheme, so the money invested by the people is safe in it, apart from this you can also make a nominee in it and if you want to transfer your account from one post office to another, then you can do that too.
A person can have more than one account
Anyone can open the Post Office KVP Scheme and it can also be opened for children, apart from this, if any investor wants to open two accounts in the post office, then he can open more than one account in it.
For whom is this scheme suitable?
Post Office KVP Scheme is suitable for those who want a safe investment option and want to deposit their money for a long period and those investors who have faith in this scheme of the post office can invest their money in it.
