Everyone saves part of their earnings and wants to invest it in a place where they not only get strong returns but also keep their money safe. One such postal plan is Kisan Vikas Patra or KVP plan, the peculiarity of which is that it doubles the investors’ money in just 115 months. Tell us in detail about this special regime…
money doubling scheme
If you also want to earn more money without taking any risk, then this popular Kisan Vikas Patra (KVP) Post Office plan can be great. This plan was specially started to generate more profits. By investing in this government plan, the money doubles in 115 months (Double Income Plan). You can invest a minimum of Rs 1000 in multiples of 100. The special thing is that there is no maximum limit in this. You can invest as much money as you want.
How many accounts can be opened in the scheme?
Under the Kisan Vikas Patra scheme, both single and double accounts can be opened. An account can be opened in this government scheme even in the name of a child above 10 years of age. With this, a person can open any number of accounts. There is no limit to this either. 2, 4, 6 You can open as many accounts as you want under Kisan Vikas Patra Yojana.
7.5 percent interest
According to this Post Office plan, interest is decided quarterly. Under this postal scheme, interest of 7.5 per cent is currently granted. This interest is released annually.
Earn Rs 10 lakh by investing Rs 5 lakh
If someone invests Rs 5 lakh under this plan and stays in the plan till maturity i.e. 115 months, he will get Rs 5 lakh from interest alone on the basis of 7.5 per cent interest. This means that investors will get Rs 10 lakh on maturity. It’s worth noting that this includes taxes.
The government had reduced the maturity period of Kisan Vikas Patra from the previous 123 months to 120 months. It has now been reduced further to 115 months. As per the information available on the post office website, the interest on the amount invested in Kisan Vikas Patra is calculated on a compounding basis. In this scheme, interest on the investment amount is calculated on a compound basis.
