There are many people in the post office who are currently investing. But today we will discuss a post office scheme in this article where investing will change your life. Many types of schemes are run in the post office, on which you are given better interest. One of these schemes is Kisan Vikas Patra. This is a very old scheme. On this scheme, the government guarantees investors to double their amount. Meaning if you are investing Rs 10 lakh, then you are sure to get Rs 20 lakh on maturity. Let us tell you the important things related to this scheme.
In how much time will the money double?
The Kisan Vikas Patra Scheme guarantees any investor to double the investment in 115 months (9 years, 7 months). At present, this scheme is getting interest at the rate of 7.5%. Interest is calculated on an annual basis. One can start investing in the scheme from Rs 1000, and there is no maximum investment limit. Apart from this, any number of accounts can be opened under this scheme.
Who can open an account?
The Kisan Vikas Patra scheme was started in 1988; then its objective was to double the investment of farmers, but now it has been opened to all. Now any adult person can open a single or joint account. Apart from this, a child above 10 years of age can take Kisan Vikas Patra in his name. Parents can open an account on behalf of a minor or a person of unsound mind. Aadhaar card, age proof, passport-size photograph, KVP application form, etc. documents may be required while opening the account. NRIs are not eligible for this scheme.
What documents are required while opening an account?
Aadhaar card, age proof, passport-size photograph, KVP application form, etc. documents may be required while opening the account. NRIs are not eligible for this scheme.
If you want to make a premature withdrawal…
1. Premature withdrawal can be done after 2 years or 6 months from the date of depositing the KVP account.
2. At the same time, pre-mature deposits can be made at any time under some special circumstances, like:
In case of KVP holder or joint account, death of any or all account holders, on forfeiture by the pledgee in the case of Gazette Officer On Court Order.
