Kisan Vikas Patra is a lump sum investment scheme run by the Government of India. In this scheme you can double your money within a fixed period.
Kisan Vikas Patra: Often people are looking for such schemes which will give them huge profits and also there is no risk. Today we are telling you about one such scheme, which will double your investment. Being a government scheme, there is no risk in it. This scheme is linked to the Post Office. This scheme of post office will give you guaranteed returns.
There is a guarantee of doubling the money in this scheme of the post office. Kisan Vikas Patra (KVP) scheme is currently giving annual interest at the rate of 7.5%. Kisan Vikas Patra is a lump sum investment scheme run by the Government of India. In this scheme you can double your money within a fixed period. You can invest in this scheme through post office or big banks.
How long will it take for the money to double?
Under the post office’s Kisan Vikas Patra Yojana (KVP), the minimum investment can be Rs 1000. However, if you want to invest more, you can invest as much money as you want. This scheme gives returns at the rate of 7.5 percent per annum. Last year, in April 2023, its interest rates were increased from 7.2 percent to 7.5 percent. Earlier in this scheme it used to take 120 months for the money to double, but now the money will double in 115 months i.e. 9 years and seven months.
5 lakh will become 10 lakh rupees
If you invest Rs 5 lakh in this scheme, returns will be given at the rate of 7.5 percent per annum. According to the calculation, one will have to wait for 115 months for the money to double. That means your money will double in 9 years and 7 months. Whereas if you invest Rs 6 lakh in lump sum, then this amount will become Rs 12 lakh in this period.
Can you open a joint account?
If you want to open an account under this scheme, then you can open Kisan Vikas Patra account in single and joint account. Under this scheme of the post office, three people can open a joint account. However, adding a nominee is mandatory under this scheme. If you want, you can close this account after 2 years and 6 months.
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