There are numerous investment opportunities available today, but many come with a degree of risk. For those seeking complete security and assured returns, the Kisan Vikas Patra (KVP) scheme offered by the post office stands out as a perfect choice. This scheme promises to double your investment in 115 months, which is approximately 9 years and 7 months.
The Post Office Kisan Vikas Patra Scheme is a fantastic option for individuals who desire safe and consistent returns. It’s particularly suited for those who wish to increase their funds without facing any risks. If you’re in search of a secure investment avenue, Kisan Vikas Patra should be at the top of your list.
Key Features of the Kisan Vikas Patra
Currently, the KVP scheme provides an annual interest rate of 7.5%. With this rate, your investment will double in 115 months. You can begin investing with as little as Rs 1,000, and there is no upper limit on the investment amount. This flexibility makes it an attractive choice for both small and large investors.
Documents and Eligibility
1. Aadhaar card
2. Age Certificate
3. Passport-sized photograph
4. KVP Application Form
Any adult, whether opening an individual or joint account, is eligible to set up this account. Additionally, children aged 10 and above can also have an account in their name. However, this scheme is not available to NRIs.
Premature Withdrawal Option
If you find yourself needing access to your funds before the investment period ends, you can make a withdrawal after 2 years and 6 months from the account’s opening. Premature withdrawals are permitted in specific situations, such as the account holder’s death or a court order.