If you are planning to invest somewhere these days, then you should know about the Kisan Vikas Patra Scheme of the post office. It is giving 7.5% interest. We are telling you about this scheme… What is Kisan Vikas Patra Scheme? Kisan Vikas Patra is a small savings scheme of the Government of India. This is a type of fixed deposit scheme i.e. FD. In this you have to invest for at least two and a half years i.e. 30 months. There is a lock in period of two and a half years. That means you cannot withdraw money from this scheme for so many years. How are the interest rates and returns decided in Kisan Vikas Patra? The interest rate on KVP is decided by the government every quarter. Currently getting 7.5% compound interest annually. Compound interest means that the interest received every year is added to the principal amount and interest is received on the same in the next year. For this reason, the investment amount doubles on completion of the stipulated time. Better for long-term investment, this scheme is considered especially better for those investors who want to avoid risk and want stable returns. This investment option can be more useful for these people – Any Indian can invest. Any Indian citizen can invest money in this scheme. The age of the person investing in Kisan Vikas Patra must be at least 18 years. However, the guardian can invest in it on behalf of the minor. Apart from this, joint account can also be opened in it. You can invest in it by going to any post office and bank online or offline.
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7.5% interest in Kisan Vikas Patra Scheme: Money will double in 9 years and 7 months, know important things related to it
