Post Office KVP Calculator 2023: There are many investment options available in the market these days. But if you want to make a safe and guaranteed investment, then Kisan Vikas Patra is a very good option.
Post Office KVP Calculator 2023: It is necessary to invest hard earned money at the right place. There are many options available for investing in the market. It selects investment options based on risk and return. But the Central Government backed Post Office Savings Scheme has always been the first choice for guaranteed and safe returns. One such scheme is the Kisan Vikas Patra (KVP) scheme, which doubles the investment amount within a specified period.
In the financial year 2023-2024, from April 1, the amount of investment in KVP will be doubled. The government has increased the interest rate of the Post Office Small Savings Scheme. Under this, interest on Kisan Vikas Patra has been increased from 7.2 percent to 7.5 percent annually. Means you will get double return in less time. Significantly, Kisan Vikas Patra is an integrated investment scheme run by Bharat Tarkar. This scheme is available for investment in every post office and major banks in the country.
Money will double in Kisan Vikas Patra
Investment amount: Rs 5 lakh
Annual Interest: 7.5%
Duration: 115 months (9 years and 7 months)
Amount at maturity: Rs 10 lakh
Special features of KVP scheme
Kisan Vikas Patra Yojana (KVP Scheme) is specially designed for the farmers. This will help the farmers to save money on long term basis. Investment in this starts from Rs 1,000, while there is no upper limit. Any number of accounts can be opened under the scheme. Account Single and 3 adults can open joint account. It also provides the facility of nominee.
