Post Office Scheme: Unleashing Financial Growth with Kisan Vikas Patra (KVP) Investment, Checkout Details

Post Office Schemes

Post Office Schemes

Investing wisely is crucial, and if you seek a long-term investment with attractive returns, consider Kisan Vikas Patra (KVP), a premier small savings scheme offered by the post office. With your money doubling in 115 months and a current interest rate of 7.5 percent, here’s why KVP could be an excellent choice.

Double Your Money in 115 Months

With an enticing interest rate of 7.5 percent, the KVP scheme ensures your money doubles in 115 months. To put it into perspective, if you deposit Rs 1 lakh, it transforms into Rs 2 lakh in 115 months. Similarly, a deposit of Rs 10 lakh blossoms into Rs 20 lakh.

Key Benefits of KVP Investment

Who Can Open an Account?

Any adult can open a single or joint account under the KVP scheme. Additionally, a child above 10 years of age can have a Kisan Vikas Patra in their name, with a guardian opening the account on behalf of a minor or a person of unsound mind. The required documents include Aadhar card, age certificate, passport-sized photograph, and the KVP application form.

Premature Withdrawal Rules

While the scheme matures in 115 months, premature withdrawal is possible after 2 years and 6 months from the deposit date. Conditions for premature withdrawal include the death of the KVP holder or joint account holders, seizure by the mortgagee as per Gazette Officer orders, or on court orders.

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