Double Your Money in Less Than Ten Years with Kisan Vikas Patra (See How)

New Delhi:

Kisan Vikas Patra (KVP) stands out as one of the most attractive small savings schemes offered by the Indian Post Office, boasting a current interest rate of 7.5%, compounded annually.

Investors looking for a risk-free and long-term investment avenue can consider KVP,

with the scheme offering the potential to double one’s money in just 9 years and 7 months at the existing interest rate.

Interest Rate and Compounding:

Kisan Vikas Patra currently provides an annual interest rate of 7.5%, compounded annually. This interest rate facilitates the doubling of invested capital in approximately 115 months, translating to less than ten years.

Maturity Corpus Example:

To illustrate, an investment of ₹50,000 in KVP will yield a corpus of ₹1,00,000 post-maturity. This showcases the lucrative potential for wealth multiplication through this investment avenue.

Account Opening:

KVP accounts can be opened by a single adult, or jointly by up to three adults.

Additionally, a guardian can open an account on behalf of a minor or a person of unsound mind.

Minors above the age of 10 can also have their KVP accounts in their own names.

Minimum and Maximum Limits:

There is no upper limit on investment in Kisan Vikas Patra. However, the minimum investment amount is ₹1,000, making it an accessible option for a wide range of investors.

Premature Closure Conditions:

KVP accounts can be prematurely closed under various conditions, including the death of a single account holder or all account holders in a joint account, forfeiture by a Gazette officer, court orders, and after 2 years and 6 months from the deposit date.

Taxation:

It’s important to note that KVP does not qualify for deductions under Section 80C of the Income Tax Act. Additionally, returns on KVP investments are taxable.

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