The Kisan Vikas Patra Scheme of the Post Office is quite popular. In this money can be doubled in 124 months. You can open it with one thousand rupees. Money remains safe in this as well as better returns are also available.
Money will be doubled from post office
Kisan Vikas Patra (KVP) of the post office is a better scheme for long term investment. In this money can be doubled after 124 months. It is a type of savings scheme. There is no fear of risk in it. Also good returns are also available. This can be useful in shaping the future of you and your children. So what is this scheme and how to invest in it, know the whole process.
Kisan Vikas Patra Yojana is a very popular and old scheme of post office. At present, interest is being given at the rate of 6.9 percent. For example, if you invest one lakh rupees in it, then after a certain time you will get two lakh rupees in return. In this scheme at least one thousand rupees have to be invested. At the same time, there is no limit on the maximum investment. You get this in the form of a certificate, in which certificates up to Rs 1000, 2000, 5000, 10000 and 50000 can be taken.
Highlights of the scheme
1. The age of the investor in Kisan Vikas Patra should be at least 18 years.
2. Single and joint accounts can be opened in this. In this, a maximum of three adults can open a joint account. If the account is to be opened in the name of the children, then the parents or guardian will have to take care of it.
3. Account can be opened in this scheme with a minimum of Rs.1000.
4. Application for investment in the scheme can be made at any post office. The applicant should have identity proof such as Aadhar card, PAN card, Voter ID card, Driving license and Passport.
5. Nominee option is also available in Kisan Vikas Patra Scheme.
application procedure
A form has to be filled to get Kisan Vikas Patra. You can also download it online or go to the post office to get it. Make sure to mention the amount you want to invest in the form. Also attach photocopies of your personal details and some important documents. Select ‘A’ or ‘B’ membership to open KVP account single or jointly. If you want to make someone a nominee in this, then fill its details also.
How to take money on maturity
The maturity amount can be obtained from any post office on completion of the scheme tenure. For this, the beneficiary will have to show his identity slip in the post office. If the beneficiary does not have an identity slip, then he can withdraw the amount only from the post office from where he has taken the Kisan Vikas Patra Certificate.
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