Kisan Vikas Patra (KVP) is a very popular scheme of the post office, in which the money doubles on investing. To avail this benefit, investors have to invest money for 9 years and 7 months.
Everyone wants that both his present and future are financially secure, that is why he likes to invest his money in a place where he gets good interest on his money as well as his money is safe. One such place is post office, where investing not only gives good interest but the money is also completely safe here. Post office has many such schemes, which attract people towards it.
Saving account
Any adult can open this account alone or with only two people (Joint, Two Adult only). If the age of the person is less than 18 years, then he will have to open the account with a guardian. 4 percent interest will be given annually on the saving account. To open this account, a minimum amount of Rs 500 will have to be deposited for the first time. If there is no transaction from the account for three consecutive financial years, the account will go into silent mode. To operate it again, KYC has to be given.
National Saving Time Deposit Account
This is a scheme of the post office, in which a lot of interest is being given on investment of one to five years. In this scheme, 6.9 percent interest is being given on investment of one year, while on investing money for two years, 7 percent interest is being given. And on investment of five years, there is an interest of 7.5 percent. The minimum investment limit in this scheme is Rs 1000 and money cannot be withdrawn from this scheme before 6 months.
Kisan Vikas Patra (KVP)
This is a very popular scheme of the post office, in which the money doubles on investing. To take advantage of this, investors have to invest money for 9 years and 7 months. For the remaining period less than that, 7.5 percent annual interest will be received. At least Rs 1000 has to be invested in this scheme.
Nation Saving Certificate
By investing money in this scheme, 7.7 percent annual interest will be received. But there is a catch with this interest, that is, the interest rate will be available only on maturity. The minimum investment limit in this is Rs 1000, although there is no limit for maximum deposit.
