Kisan Vikas Patra: If you like safe investment then how did you forget this scheme? You invest a lump sum, the government will return the money doubled..

Post Office Scheme- Many people do not like to invest money in the market, but want to invest in schemes that give guaranteed returns. Usually, the first choice in such a situation is FD because it has been a reliable option for people for years. But if you want to invest your money somewhere for a long time, then you can do it in the Kisan Vikas Patra (KVP) scheme of the post office. This is a very old and reliable scheme of the post office which guarantees investors to double the amount in 115 months.

Who can open an account?

Any adult person can open a single or joint account under this scheme. Apart from this, a child above 10 years of age can take Kisan Vikas Patra in his name. Guardians can open an account on behalf of a minor or a person of unsound mind. NRIs are not eligible for this scheme.

You can invest in the future of your children.

If you want to prepare money for the future of your children or have any other long-term goal, then you can invest a lump sum amount in this scheme. If you invest Rs 5 lakh in this scheme, it will become Rs 10 lakh, and if you invest Rs 10 lakh, it will become Rs 20 lakh. This amount will double in 115 months, i.e., 9 years, 7 months. Currently, this scheme is giving interest at the rate of 7.5%. Interest is calculated on an annual basis.

What documents are required while opening an account?

Aadhaar card

Age certificate

Passport size photograph

KVP application form

If you want to withdraw money before the time, then…

Premature withdrawal can be done after 2 years and 6 months from the date of depositing the KVP account. However, pre-mature deposits can be made anytime under certain special circumstances, such as

In case of KVP holder or joint account, on death of one or all the account holders

In case of a gazette officer, on seizure by mortgagee

On the order of the court

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