People in India have several investment options to choose from. Depending on your needs and financial capacity, you can invest in various schemes. Besides mutual funds, the stock market, and bank FDs, there are multiple secure options like SCSS, PPF, KVP, SSY, and NSC. Here, we’ll introduce you to a scheme where your investment doubles with a 100% guarantee. This scheme offers 0% risk and complete security since it is backed by the central government. Yes, we’re talking about the Kisan Vikas Patra (KVP) scheme offered by the Post Office.
In how much time will the money deposited in the KVP account double?
At present, 7.5 percent interest is being given on Kisan Vikas Patra scheme. Whatever money you invest in this scheme, your money will be directly doubled on maturity. Now whether you invest Rs 1 lakh or Rs 1 crore in it, after 115 months your money will be doubled with full guarantee and security. Post Office KVP scheme matures in 115 months i.e. 9 years and 7 months and on maturity you get double the money.
How much maximum amount can be deposited in the KVP account?
In this scheme, you can invest a minimum of Rs 1000 while there is no limit on maximum investment. That is, you can invest as much money as you want in this scheme. Let us tell you that the central government keeps changing the maturity period of this scheme according to the need. But right now the maturity period of this scheme is 115 months. If you ever need money, the KVP account can be closed prematurely after 2 years and 6 months from the date of opening the account. To open a KVP account in the post office, you will first have to open a savings account.
The Kisan Vikas Patra (KVP) scheme is an excellent choice for risk-averse investors looking for guaranteed returns and capital security. With the backing of the central government, the scheme provides an ideal way to double your investment over time, making it a popular option for safe and assured growth.