By investing in some of the schemes of LIC, you get good returns and the investment amount is also safe.

Actually, SIIP is a Unit Linked Insurance Plan (ULIP), in which you get insurance coverage along with your investment. The returns in it are based on the performance of the stock market, so it comes with some risks, but with it you get the benefit of high returns and insurance protection. Let’s know the important information related to this plan and its benefits.

LIC SIIP: The best combination of insurance and investment

You get four fund options under LIC’s SIIP plan:

• Bond Fund
• Balanced Fund
• Safe Funds
• Growth Fund

Each of these fund options has its own risk profile. The highest returns are available in growth funds, in which up to 80% of the investment is made in the stock market. Although, this also involves market risk, the return potential is quite high.

Money will double…

Suppose, you have invested ₹1,00,000 every year for a period of 10 years under LIC’s SIIP plan. With this investment, you choose a growth fund, whose NAV growth is expected to be 15%. In 10 years, your total investment will be ₹10,00,000, and you are expected to get ₹19.3 lakh at maturity. This is just a potential calculation, which will depend on the market performance. This plan is available for different tenures of 10, 15, 20 and 25 years.

Suppose, if you take a SIIP plan for a period of 10 years and choose the growth fund option. Under this plan, if you deposit Rs 100,000 every year, a total of Rs 10,00000 will be deposited in 10 years. At maturity, you will get a total of Rs 19.3 lakhs considering the NAV growth of 15 percent. However, this is a probable calculation.

For SIIP plans:

• The policyholder’s age should be a minimum of 3 months and a maximum of 65 years.
• It also provides accidental death benefit rider and partial withdrawal facility.

LIC’s SIIP plan is a great way to grow your investments and secure your future. If you want to invest for the long term and also need insurance coverage, then this plan can be a good option for you.

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The name of this scheme is Kisan Vikas Patra Yojana (Kisan Vikas Patra Yojana) and the interest rates available in this scheme have also been increased. In this, you can earn double the money from your deposit.

What is this tremendous scheme of the post office?

The post office has come out with a tremendous scheme, in which the money can be doubled. This scheme is Kisan Vikas Patra Yojana. In this scheme, instead of just 123, your money will double in 120 months. In this you will get interest up to 7.20 percent. You can invest at least Rs 1000 in this scheme. If you have invested Rs 10 lakh, then you will get 7.2 percent interest and in 120 months your money will also double.

How to double money in the scheme

If you have invested Rs 10 lakh, then you will get 7.2 percent interest in 120 months and your money will also double in 120 months. By adding 10 lakh rupees, it will become 20 lakh rupees on maturity. This will give you a lot of profit.

How to open an account

In this scheme, you can open an account even after 10 years and you have to fill the application by going to the post office and deposit the investment by cash, check or demand draft. You will also have to apply your identity card and immediately after applying you will get the Kisan Vikas Patra certificate.

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The central government has increased the interest rates of the government scheme in the new year, after which soon your money will double.

Money will double in a few months

You can double the money soon by investing in the Kisan Vikas Patra scheme. The government has increased the interest rates on KVP by 20 basis points. The new rates have come into effect from January 1, 2023. After the increase in interest rates, instead of 123, your 5 lakhs will be converted into 10 lakhs in just 120 months.

How much interest is being received now?

In the Kisan Vikas Patra scheme, from now on you will get the benefit of interest at the rate of 7.20 percent. The special thing about this scheme is that you can start investing with just Rs 1000. After this, you have to invest in multiples of Rs 100 in it. At present there is no maximum investment limit in this scheme.

How can you open single and joint accounts? You can also open a single account in this scheme. Along with this, 3 adults together can also open it as a joint account. In this, you also get the benefit of the facility of nominee.

You will get 10 lakhs instead of 5 lakhs, if you have invested Rs 5 lakhs in this government scheme today, then after 120 months you will get Rs 10 lakhs instead of 5 lakhs. Along with this, you will get the benefit of interest. In the post office scheme, huge profits are available with the guarantee of money.

The post Post office New Plan: Good News! you will get double money in 120 months invest 5 lakh and get back 10 lakh first appeared on Rightsofemployees.com.

If you keep investing in such a scheme according to the rules and duration, then you get double the money. But you should keep in mind that this is not a miracle but a rule of the scheme. Thumbnail 72 is very effective for this, which shows in how many days the money will double in the scheme. In this rule, the annual return is divided by 72. It shows that in how many days the money in the scheme will double.

1-Tax free bonds

Tax pre bonds were earlier issued only for a specific period. But the government has allowed some state government companies to issue bonds up to Rs 40,000 crore. Apart from this, huge demand is seen for PFC and NTPC bonds. The annual return on such tax free bonds is 8.20% to 8.50%. This type of bond can double money in 8-9 years.

2-Kisan Vikas Patra

Kisan Vikas Patra scheme is considered the best scheme to double the money. In this scheme, the investment used to double in the first 124 months. The government has recently changed it and reduced its duration by 1 month. Now the amount invested in this scheme doubles in 123 months i.e. 10 years 3 months.

3-Gold ETF

Investing in Gold has always been beneficial. Apart from physical gold, good earnings can be made by investing in gold ETFs and gold bonds. If you want, you can also invest in Sovereign Gold Bond. The government and the Reserve Bank run this scheme. You can invest at least one gram of gold in this. On this, 2.5 percent interest is received every year. Its lock in period is of 8 years. Money can double in Gold ETF in 8 years.

4-stock market

Stock market plays a big role in earning and doubling money. Direct stock investment carries a lot of risk, but its returns are also very high. On the other hand, if you invest money in a particular stock for a long time, the risk will be less and the returns will also be good. This return can go up to 20%. For example, Eicher Motors stock gives more than 28% returns in five years. Money doubles in such stocks in 3.5 to 4 years.

5-Real Estate

Your money can also be doubled by investing in real estate. Good rental income can be earned by investing in residential real property. This also helps in saving tax. Money invested in real estate can double in 6-7 years. But the special thing is that you have to invest a lump sum amount in real estate. In how many days the money will double, it will depend on the location and infrastructure.

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KVP: Once deposited, forget it

Vikas Vikas Patra is such a scheme, in which you forget by depositing lump sum money and after 10 years 4 months i.e. 124 months your money will double. At present, the interest rate on Kisan Vikas Patra is 6.9 per cent per annum. Compounding is done annually. Investment is made in the form of certificate in Kisan Vikas Patra (KVP). In this, you can invest a minimum of Rs 1,000 and then in multiples of Rs 100. There is no maximum limit for investment in this.

Who can open account

Any Indian person who is above 18 years of age can open his account in Kisan Vikas Patra. However, there is no upper age limit for opening an account. KVP certificate can also be purchased in the name of minor. Minors above 10 years can open this account in their own name. NRI is not eligible for this scheme.

Kisan Vikas Patra can be purchased from any post office. You also get the facility of nominee in the account. Not only this, you can also transfer accounts from one post office to another post office. Moreover, Kisan Vikas Patra can also be transferred from one person to another.

With no investment limit, there is also the risk of money laundering, so the government made PAN card mandatory in 2014 for investments above Rs 50,000. If investing 10 lakh or more, then income proof will also have to be submitted, such as ITR, salary slip and bank statement. Apart from this, Aadhaar is also to be given as an identity card. This scheme was started in 1988. Facility of investment in Kisan Vikas Patra is available in more than 1.5 lakh post office branches across the country.

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