Investment Tips: Post office schemes have always been considered a good option for investment. Your money is completely safe in these schemes. There is also a good return available. Today we are going to tell you about a similar scheme of post office, in which you can get more interest than FDs of many banks by investing.
This scheme of the post office is Kisan Vikas Patra (KVP) Savings Scheme. It is getting 6.9% interest now. This interest rate is higher than the interest rate available on FDs of many banks in the country. Let us tell you that many big banks of the country are giving interest ranging from 5 to 6% on FD.
- Under the scheme, a kind of certificate is available which is issued to it like a bond.
- It earns interest at a fixed rate.
- On this At present, interest of 6.9% is available.
- It can be purchased from any post office in the country.
How much can I invest
- There is no maximum limit to invest in KVP.
- Minimum investment should be Rs.1000.
- Any amount can be invested in multiples of Rs.100.
Account may be transferred
- A special feature of this scheme is that one person can transfer the certificate of the scheme to another person.
- Account can also be transferred from one post office to another.
Single and Joint account facility
- Single or joint account can be opened under this scheme.
- The age of the account opener should be at least 18 years.
- Minor can also open the account But it will have to be looked after by their parents.
- The scheme has a lock-in period of two and a half years.
- This means you cannot withdraw money for two and a half years.
In how much time does money double?
- At the current rate of 6.9 per cent per annum, your money will double in about 10 years 4 months (124 months).
(Investment advice is not being given by ABP News here in any scheme. The information given here is for informational purpose only. Take expert advice before depositing money in any scheme) strong>