In this scheme of post office money will double in just 120 months, read the details of the scheme

Farmer Vikas Patra: There are many investment options available in India, but even today there is a large population of the country who likes to invest in Risk Free Investment Options. In such a situation, the Small Saving Scheme of the post office is a better option for such people. If you want to double your money in the long term, then you can invest in the Kisan Vikas Patra scheme of the Post Office Schemes. In this, your money will double in just 120 months (KVP Return). Let us know the details of this scheme-

Good option to get better interest-

The government reviews the interest rate of all post office schemes every three months. Recently, on December 2023, the government has increased the interest rates of many post office schemes. You customers are getting up to 1.10 percent more interest on many small savings schemes. The interest rates of Kisan Vikas Patra have also been increased by 20 basis points. After this increase, now the money of the customers will be doubled in 3 months earlier than before.

Know how much interest is being received on KVP?

The central government had announced that under the Kisan Vikas Patra scheme, customers will now get 7.20 percent interest (KVP Interest Rate) from January 1, 2023. Earlier it was 7.00 percent, which has been increased to 7.20 percent later. In such a situation, after this change, you will get the benefit of double amount in only 10 years.

Start investing with just Rs 1,000

Under the Kisan Vikas Patra Scheme of the post office, investors can start their investment with just Rs 1,000. At the same time, the special thing about this scheme is that there is no maximum investment limit in it. You can open both single and joint accounts in this. In this, you can make whomever you want as a nominee. If an account holder dies before the maturity of the scheme, then the nominee can make a death claim and claim all the money.

How to open KVP account-

Any child above 10 years can also open an account under Kisan Vikas Patra. He will need a guardian just to operate it. The process of opening an account is very easy. First of all you go to your nearest post office. Go there and fill the form to open the account related to the account. After that submit the application money. After this, as soon as the account is opened, you will get the certificate of Kisan Vikas Patra.

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