Small Savings Scheme: People always look for such schemes which can double their money. If you also want this, then many Post Office Schemes have been prepared for this. These post office schemes are offered by the government. If you invest in these, you get safe and guaranteed returns.
You will get strong returns in this scheme
Among these schemes, there is also a special scheme for farmers which can give you good returns. Its name is Kisan Vikas Patra Scheme. This scheme was started by India Post in 1988. According to the official website, the objective behind this scheme was to encourage long-term financial discipline among people.
How much time will it take for money to double?
Under the government’s Kisan Vikas Patra, 7.5 percent return is available annually (Kisan Vikas Patra Interest Rate). It will take 115 months i.e. 9 years and 7 months for the money to double in this government scheme. That means if someone invests Rs 4 lakh in it, he will get Rs 8 lakh back after 115 months.
How much can you invest?
The minimum investment under this scheme is Rs 1000 and there is no limit on the maximum investment. If you choose to invest the lump sum amount, you will get double the amount by the end of 115 months. It is available in all banks and post offices of the country.
keep this in mind
The government has made PAN card mandatory for anyone investing Rs 50,000 or more to prevent cases of money laundering. For investments of Rs 10 lakh and above, you will have to submit income proof like salary slip, bank statement and ITR documents.
Who can apply? (Kisan Vikas Patra Eligibility)
Only Indian citizens can invest in this scheme. For this, your age should be more than 18 years. An adult can apply for this on behalf of a minor. HUF and NRI are not eligible for this scheme.