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.
Safe investment and better returns are the two goals of every person investing. The Kisan Vikas Patra (KVP) savings scheme of the post office fulfills both these goals. It is currently getting 6.9% interest. Let us tell you that many big banks of the country are giving interest ranging from 5 to 6% on FD.
Highlights of the scheme
- Under the scheme, a kind of certificate is available which is issued like a bond.
- Interest is earned on it at a fixed rate.
- At present, interest of 9% is being given on this.
- It can be purchased from any post office in the country.
How much can you invest
- There is no maximum limit to invest in KVP.
- Minimum investment should be Rs 1000.
- You can invest any amount in multiples of Rs 100.
Account can be transferred
- One of the features of this scheme is that the certificate of the scheme can be transferred from one person to another.
- Account transfer can also be done from one post office to another post office.
Single and Joint account facility
- Single or joint account can be opened.
- The age of the account opener should be at least 18 years.
- A minor can also open an account, but it will have to be supervised by his parents.
lock in period
- The plan has a lock-in period of two and a half years.
- This means that you cannot withdraw money for two and a half years.
Disclaimer: (The information provided here is for informational purposes only. Always consult an expert before investing money as an investor. It is never advised to invest money here from ABPLive.com to anyone.)
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