There are many government investment and savings schemes where the benefit of interest rate is higher than FD. Many savings and investment schemes are being run by the government, which are operated by the post office. In these schemes, you get more benefits than bank FD. The name of one such scheme of post office is Kisan Vikas Patra (KVP) scheme.
Still, most people in India rely the most on Fixed Deposits (FD) in terms of Saving and Investment. In the last few times, the interest rate of fixed deposits has been increased by almost every private and government small, big banks. However, there are still many government investment and savings schemes where the benefit of interest rate is higher than FD. Many savings and investment schemes are being run by the government, which are operated by the post office. In these schemes, you get more benefits than bank FD. The name of one such scheme of post office is Kisan Vikas Patra (KVP) scheme. Let us know about every type of information related to this scheme.
Kisan Vikas Patra
Kisan Vikas Patra (KVP) scheme is a fixed rate small savings scheme of post office with a fixed limit time which is 115 months. According to the information available on the official website of the post office, if you invest your money in this scheme for this period, then your investment will double. You can take advantage of this scheme by going to any post office in India.
How much is the interest in this scheme
If we talk about the interest rate given in the Kisan Vikas Patra scheme of the post office, then at present this scheme offers an interest rate of 7.5 percent per annum. Under the scheme, you can open your account with just Rs.1000 only. At the same time, no maximum limit has been fixed for investing in this scheme. The scheme gives the benefit of compound interest. Although this post office scheme is specially designed for farmers, but anyone can take advantage of this scheme.
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