new Delhi. Every person wants his money doubled. The financial market is flooded with offers where promises are doubled. But most of the companies making such promises have lost people’s money. That is why people want their money to be doubled, but due to lack of trust, they avoid depositing money.
If you have a similar dilemma in your mind, then overcome it. We are going to tell you such a government scheme, where the money deposited gets bogged down. Apart from this, the security of your deposited money is guaranteed by the Government of India. That is, your money doubles with complete security. Let us know what is this government deposit scheme.
This is Kisan Vikas Patra
This scheme is Kisan Vikas Patra (KVP). Anyone can buy KVP from the post office. The government guarantees the security of the money deposited in this scheme. Apart from this, you can deposit any amount of money in KVP. The money deposited in KVP is refunded to you after doubling.
In how many days KVP has double the money
The Kisan Vikas Patra (KVP) scheme currently offers an annual interest of 6.9 per cent. This interest rate is applicable from 1 April 2020. Post office interest rates change every three months. The next review of interest rates here will be in late March. In such a situation, you have a chance to deposit money at this interest rate till 31 March 2021. If someone invests in this scheme by March, then they will continue to get the same interest rate, even if it decreases later. At this interest rate, the money deposited in KVP doubles in 124 months (10 years and 4 months).
How much money can I deposit in KVP
You can deposit any amount of money in the post office KVP deposit scheme. Here a minimum deposit of Rs 1000 is required. After this, you can deposit any amount in the coefficient of Rs 100. When you deposit money in KVP, a certificate is issued to you. On completion of the time, you withdraw double the money by depositing this certificate.
KVP Rules
KVP can also be taken as single or joint name. It can also be purchased in the name of a child older than 10 years. Not only this, you can deposit money in this scheme any number of times. Each time a new certificate will be issued to you.
Money can also be withdrawn in KVP
If for some reason you need money, then KVP can also be cashed in between. This money can be withdrawn anytime after two and a half years. If it is taken by a joint name, after the death of one, it can also be transferred in the name of another.
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