No need to worry about falling interest rates on FDs, Post Office Kisan Vikas Patra Scheme is getting more interest than FDs

 No need to worry about falling interest rates on FDs, Post Office Kisan Vikas Patra Scheme is getting more interest than FDs

Kisan Vikas Patra is currently earning 6.9 per cent interest

It can be started with an investment of Rs

Read Also Gujarat ST DEPOT NUMBER 

Many of the country's largest banks have recently reduced interest rates on fixed deposits (FDs). In such a situation, investors are confused as to where to invest money for higher returns. If you are also suffering from this problem then you can invest money in Post Office Kisan Vikas Patra (KVP) Savings Scheme. It earns you more interest than FD and keeps your money safe. We are telling you about this scheme today.

Read Also   BEST Collection For Learning APPS 

It is earning an annual interest of 6.9 per cent

This is a kind of certificate, which anyone can buy. It is issued as a bond-like certificate. There is a fixed interest on it. It can be purchased from any post office across the country. At present, interest of 6.9% is being paid.

Read Also Some Helpfull And Important APPS Chek Here

How much money can be invested

There is no maximum limit to invest in Kisan Vikas Patra. If so, your minimum investment should be Rs.1000. You can invest any amount of Rs 100 in multiple. This certificate can be transferred from one person to another. It can also be transferred from one post office to another. It can also be purchased online from some banks in the country.

                                   

There is also a facility to open a joint account

The age of the investor in Kisan Vikas Patra should be at least 18 years. In addition to single, it also has the facility of joint account and minor can also be included in the scheme, but his parents have to take care of his account. Hindu Undivided Family (HUF) and NRI cannot invest in the scheme.

It has a lock-in period of two and a half years

If you want to withdraw your investment, you have to wait at least two and a half years (30 months). It has a lock-in period of two and a half years.

In what time does money double?

If you invest in Kisan Vikas Patra, the current interest rate of 6.9% can double the money in approximately 10 years and 4 months (124 months).

Here are some things to keep in mind before investing in it

Read Report

If you want to invest for income tax savings then investing in it is not right for you. You do not get the benefit of income tax exemption on investing in this scheme.

If you want to withdraw the interest earned on it during the maturity period, you cannot do so by investing in this scheme.

It has a lock-in period of two and a half years, which means you can't withdraw money for 30 months. So this scheme is not suitable for those who want to invest for 1-2 years.