Kisan Vikas Patra Yojana is one of the special schemes of the post office. This is a long term investment scheme. At the time of maturity, double return of deposit is available under the scheme.
Post Office Scheme: Government of India runs many Saving Schemes through Post Office. There is a special scheme by the post office for children to the elderly. One of these schemes is “Kisan Vikas Patra Yojana”. Citizens of the country can open an account with an investment of just Rs 1000. The scheme is considered a better option for long term investment, currently offering attractive interest. Is. Investing properly in the scheme can also double the money of the investors.
At present, 7.5 percent interest is being received on the KVP scheme, the minimum amount of investment is Rs.1000. Whereas the maximum amount is not fixed. Investors can invest as per their wish. Investing in 9 years 7 months gives double the return during maturity. This means that if a person invests Rs 4 lakh once, he gets a return of Rs 8 lakh after 115 months.
Under the Kisan Vikas Patra Yojana, tax exemption facility up to Rs 1.5 lakh is also available under Section 80C of the Income Tax Act 1961. The scheme can be easily transferred from one post office or bank to another post office or bank.
(Disclaimer: The purpose of this article is only for information sharing. discountwalas.com does not recommend investment in any plan or scheme.)
