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Post Office: In today’s time, everyone, be it a working person or a businessman, is worried about his future. Everyone wants that he does not have to face financial problems in old age, so he starts saving in time.
But there are many people who are investing their small savings in various types of schemes. The government is also giving you good returns in these schemes. If you are also thinking of a similar scheme, then we have brought a scheme for you in which you will get good and double profits by investing.
You will get 7.5% interest
Let us tell you that Kisan Vikas Patra Yojana (KVP) is being run by the post office which is a better scheme for every citizen of the country. In this scheme, any Indian citizen can open his account and can open it through single or joint account.
In the Post Office Kisan Vikas Patra Scheme, an account is opened with a minimum of Rs 1000 and in this scheme you get interest at the rate of 7.5% on the amount deposited. Earlier in this scheme you were given interest at the rate of 7% but from July 1, 2023 its rate has been increased to 7.5%.
Money will double in 115 months
Let us tell you that people are liking the Post Office’s Kisan Vikas Patra Yojana (KVP) so much that the number of investors in it is continuously increasing. In fact, as the number of investors is increasing, the period for doubling the invested amount is also decreasing.
Earlier the amount invested in this scheme used to double in 123 months and then in 120 months, but now it doubles in 115 months only. You are given compound interest on the amount invested in the Kisan Vikas Patra Scheme run by the Post Office.
In this scheme you can open single or double account. If you have opened a single account in Kisan Vikas Patra Yojana and invested Rs 5 lakh, then at the interest rate of 7.5 percent, this amount becomes Rs 20 lakh in 9 years 7 months i.e. 115 months. The interest rate available on this scheme is reviewed every 3 months.
It is very easy to open an account in KVP
In this, any Indian citizen can open his account but the account of children below 10 years of age is opened in the name of their parents or guardian. When the child turns 10 years old, he becomes his own master.
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