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.

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