Post Office Scheme: The post office is running many types of savings schemes for its customers. After the Reserve Bank of India reduced the repo rate, while all the banks have reduced the interest rates of FD, the post office has not reduced the interest rates of any of its schemes. The post office also runs a scheme in which your money doubles directly. Today we will learn about the Kisan Vikas Patra (KVP) scheme of the post office, in which your money doubles directly in a fixed period.
7.5 percent interest is being given on KVP scheme
Kisan Vikas Patra is a government scheme in which your money gets doubled directly. Whatever amount you put in this scheme, it gets doubled. Now whether you put 1 lakh rupees or 1 crore rupees in it. Lump sum investment is made in the KVP scheme of the post office. Currently, 7.5 percent interest is being given on this scheme. You can deposit at least 1000 rupees in the Kisan Vikas Patra scheme. There is no limit on maximum investment in this scheme. That is, you can invest as much money as you want in it.
The scheme matures in 9 years and 7 months
This scheme of the post office matures in 115 months i.e. 9 years and 7 months. That is, your money deposited in this scheme doubles in 115 months. This is a fixed return scheme and it gives fixed returns with full guarantee. In this scheme, along with a single account, a joint account can also be opened. Names of maximum 3 persons can be added in a joint account. This is a post office scheme and the post office is operated by the central government, which simply means that your money invested in this scheme is completely safe.
Disclaimer: This article is written for informational purposes only. Consult your financial advisor before making any kind of investment or taking any financial risk. Rightsofemployees will not be responsible for any kind of risk
