Kisan Vikas Patra (KVP) is also included in the small saving schemes of the post office. Let us know about this scheme in detail.
Kisan Vikas Patra (KVP) is also included in the small saving schemes of the post office.
If you are thinking of investing in the coming days, then Post Office Savings Schemes ,Saving Schemes, can do in. You definitely get good returns in these schemes. Also, the money invested in it is also completely safe. if bank default (Bank Default) If it happens, then you get back only 5 lakh rupees. but the post office (Post Office) I am not like that. Apart from this, investment in post office savings schemes can be started with a very small amount. Kisan Vikas Patra in Small Saving Schemes of Post Office (KVP) also includes. Let us know about this scheme in detail.
Rate of interest
At present, the interest rate of 6.9 percent per annum is present in the Kisan Vikas Patra of the Post Office. This interest rate is applicable from 1st April 2020. The interest is compounded on an annual basis. The amount invested in this small savings scheme doubles in 124 months i.e. 10 years and 4 months.
At least Rs 1000 can be invested in Kisan Vikas Patra. In this scheme one has to invest in multiples of Rs.100. There is no maximum investment limit.
Who can open account?
In this small savings scheme, one adult or up to three adults can open a joint account together. Apart from this, in this scheme, the guardian on behalf of the minor or the guardian on behalf of the person of weak mind can also open the account. In this scheme, a person above the age of 10 years can open an account in his own name also.
The amount deposited in this post office scheme will mature on the maturity period as determined by the Ministry of Finance from time to time from the date of deposit.
Premature closure of account
The Kisan Vikas Patra Scheme can be closed at any time before maturity in certain situations. In this, the account can be closed in the event of the death of a single account holder or the death of all the account holders in the joint account. Apart from this, the account can also be closed on the orders of the court. Apart from this, the account can be closed after 2 years and 6 months from the date of deposit.