If we invest in the stock market, the risk is high. Similarly, if we invest in gold, the concern is that the price will rise or fall. If we keep it in the bank, the interest we get is not enough. Therefore, there is a way to double your money without any risk. This scheme is being run by the Central Government. That is the ‘Kisan Vikas Patra – KVP’ scheme of the Post Office.

What is Kisan Vikas Patra?:

Despite the name ‘Kisan’, this scheme is not just for farmers. Any citizen of India can invest in it. It is a savings scheme that is available through post offices. The big advantage is that your money is 100% backed by the government. This means there is no question of your money going to waste.

How to double your money:

This is the feature of this scheme. The money you invest doubles in a certain period of time. As per the current rules, the money you invest doubles in 115 months (i.e., 9 years and 7 months). Currently, this scheme earns 7.5% interest per annum. Since it is compounding interest, your money grows rapidly.

Who can invest?:

Any Indian citizen above the age of 18 years can invest in this scheme. Parents can also open an account in the name of their children. Also, a joint account can be opened between two or three people.

How to invest:

The process is very simple. Go to your nearest post office, fill the KVP form, provide your KYC documents (Aadhaar, PAN card). Pay the amount you want to invest, and you will get a Kisan Vikas Patra certificate.

How much to invest?:

The minimum investment is Rs. 1,000. There is no maximum limit. You can invest as much as you want and open an account.

Advantages:

You can appoint a nominee in advance to whom the money goes after you. You can also get loans from banks by pledging these KVP documents. This letter can be transferred from one person to another. Similarly, it can be easily transferred from one post office to another. You can withdraw the money within 2 years and 6 months of investment. Therefore, certain conditions apply. This should be kept in mind.

The post Post Office’s super scheme! Deposit 1 lakh and get 2 lakh… 6 lakh for 3 lakh first appeared on Rightsofemployees.com.

The Recurring Deposit (RD) scheme at the post office is an ideal scheme for those who want to save a large amount over five years by making a fixed monthly deposit. Let us tell you about this scheme in detail.

In this scheme, you can pay a fixed amount every month and get a lump sum along with interest at the end of five years. The investment tenure of this scheme is only five years.

In the post office RD scheme, if you deposit Rs 1500 per month at the rate of Rs 50 per day, you can get Rs 1,07,050 at the end of 5 years with 6.7% interest. Similarly, if you save at the rate of Rs 100, you can get Rs 2,12,972. This amount will be very beneficial for the poor and needy. To join this scheme, contact the nearest post office.

One of the special things about this scheme is that we can withdraw the money quickly within five years. However, some conditions may be imposed. There are also tax benefits under the Income Tax Act for investments made in the RD scheme. Therefore, a large number of people are benefiting from this scheme.

There are many good savings schemes like Public Provident Fund (PPF), Monthly Income Scheme (MIS), National Savings Certificate (NSC), Recurring Deposit Account (RD), Senior Citizen Savings Scheme, Sukanya Samriddhi Scheme and Time Deposit Account (TD) etc. in the post office. These provide safe and stable income. So, join the best scheme according to you now and avail the benefits.

The post Post Office’s super scheme: You will get Rs 1,07,050 by paying Rs 50… Know how? first appeared on Rightsofemployees.com.