Kisan Vikas Patra: If you are planning to invest, then you can choose this. This scheme of post office has now become very beneficial. The government is offering more than 7 percent interest on investment.
Kisan Vikas Patra: The post office runs many small savings schemes. Many of these schemes are quite popular. One such scheme is Kisan Vikas Patra. If you are planning to invest, then you can choose it. This scheme of post office has now become very beneficial. The amount invested in it doubles in 115 months. The government is offering more than 7 percent interest on investment.
How is interest calculated?
The money invested in Kisan Vikas Patra will double in 115 months. In January 2023, the central government reduced the maturity period from 123 months to 120 months. Now it has been further reduced to 115 months. In this scheme, interest is calculated on compounding basis.
How much interest is being received?
Interest is being received at the rate of 7.5 per cent annually on the amount invested in Kisan Vikas Patra. One thousand rupees investment can be started in this scheme. After this, investment can be made in multiples of Rs.100. There is no maximum investment limit in this. You can also invest by opening a joint account. Along with this, the facility of nominee is also available.
How to open account?
Under the Kisan Vikas Patra Yojana, the account of a minor below 10 years of age can be opened. However, the guardian can open the account on their behalf. As soon as the child turns 10 years old. The account is transferred in his name. It is easy to open an account for this scheme. For this, the application has to be filled along with the receipt deposited in the post office. Then the investment amount has to be deposited by cash, check or demand draft. Please tell that Kisan Vikas Patra is a small saving scheme. The government reviews and changes the interest rate every three months.
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