Post Office Scheme: Even though there are many investment options in the market, still a large section of the country prefers to invest in bank, post office or LIC schemes. The post office has an investment scheme where you can double your money quickly by depositing money.
The name of this project is Kisan Bikash Patra. The central government has increased the interest rate available under this scheme from 7.2 per cent to 7.4 per cent with effect from April 1, 2023. Now the deposits under this scheme will soon double after the increase in interest rates.
Kisan Bikash Patra is a deposit scheme of the central government. In this scheme the investor can invest once and get double money within a certain period of time. Through this scheme you can open an account at any post office. This scheme is specially designed for the rural population. In this you can invest a minimum of 1000 rupees and a maximum of any amount.
After the government’s decision to increase the interest rate of the Kisan Bikash Patra scheme in April 2023, the period for doubling the deposit of this scheme has now reduced. Earlier, it took 120 months to double money in this scheme, now money in Kisan Bikash Patra will double in just 115 months.
If you invest Rs 10 lakh in this scheme, you will get Rs 20 lakh on maturity after 115 months In this scheme, the government offers compound interest rates.
You can open an account under Kisan Bikash Patra at any post office. You can invest minimum Rs.1000 Maximum amount can be invested in multiples of Rs.100.
An account can be opened by two or three persons individually or jointly under this scheme. Children above 10 years of age can open account in KVP under this scheme.
In case of death of a KVP account holder, in that case the nominee can claim the money deposited in the account.
For this you need to submit the account holder’s death certificate and your ID at the post office. After that fill and submit a form. You can claim the money soon after all the deposits are made.
So why delay, you can invest in this post office scheme to get good returns with government financial protection.
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