On investing 10 lakhs in Post Office's scheme, you are getting 20 lakhs, know in how much time the money will double..

Post Office: Fixed Deposit (FD) has always been considered a safe investment, but now the small savings schemes of the post office have also emerged as a great and safe option. These schemes not only provide security to your investment but also give guaranteed returns. Therefore, along with FD, the Post Office Small Savings Scheme can also be given priority for a safe and assured income.

If you are also looking for a scheme with a secure option for investment in which you get high interest, then you should pay attention to Kisan Vikas Patra. There is a guarantee of a doubling of the investment amount in this scheme.

This means that if you invest Rs 10 lakh in this scheme, then after maturity, you will get double the profit i.e., Rs 20 lakh.

In how much time does the money double?
In this scheme, there is a guarantee of doubling the money after 115 months (9 years, 7 months). Currently, it is getting an annual interest of 7.5%. You can start investing with just ₹ 1000, and there is no maximum limit on investment. The best thing is that you can open any number of bank accounts for this scheme. This is a great option for those who want safe and guaranteed returns.

About Kisan Vikas Patra Scheme-

Let us tell you that this scheme was started in the year 1988. The objective of this scheme was to double the investment amount of farmers. Initially, this scheme was only for farmers, but later anyone can invest in it. Now in this scheme, a joint account can be opened along with a single. Along with this, an account for a child above 10 years of age can also be opened.

To open a child's account, the guardian has to submit Aadhaar Card, age certificate, passport size photo, KYP form, etc. Along with the child's Aadhaar card, the guardian's Aadhaar card also has to be submitted.

At present, this scheme is only for Indian citizens. NRIs are not eligible for the scheme.

Disclaimer: This content has been sourced and edited from Hr Breaking. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.