Kisan Vikas Patra Scheme: Post office small savings schemes are the best for investments with high interest rates along with government guarantees. In this, your money remains safe, because it is guaranteed by the government and the interest is also highest in comparison to FD or bank. If you want to invest for long term then you should invest in Kisan Vikas Patra Scheme. This scheme doubles your money in 124 months. If you invest Rs 1 lakh in this then after about 10 years you will get Rs 2 lakh.
You can invest in this scheme by visiting any post office. A minimum investment of Rs 1000 has to be made in this. There is no limit on the maximum investment. To invest in this scheme, you have to buy a certificate. You can buy certificates up to Rs 1000, 2000, 5000, 10000 and 50000. Kisan Vikas Patra is getting interest at the rate of 6.9 percent.
These documents are necessary
To invest in this scheme, you must have an identity card like Aadhar Card, PAN Card, Voter ID Card, Driving License and Passport. There is no investment limit in this scheme. Because of this, there is also the risk of money laundering. To avoid this, the government has made PAN card mandatory for investments above Rs 50,000. At the same time, those investing 10 lakh or more have to submit income proof, which includes ITR, salary slip and bank statement.
You can buy KVP certificate in three ways
1. Single Holder Type Certificate: It is purchased for self or for a minor
2. Joint A Account Certificate: Two adults can buy this certificate together. The money is paid either to both or to the one who is alive.
3. Joint B Account Certificate: This certificate is also bought by two adults together but the money is received by either one or the one who is alive.
- Features of Kisan Vikas Patra
- You must be at least 18 years of age to invest in this scheme.
- If you want and if you want, you can invest in this scheme together with anyone. A maximum of three people, whose age is above 18 years, can open an account together.
- When the account is opened in the name of the children, their parents or guardian will have to take care of it.
- This scheme offers guaranteed returns, not affected by market volatility. Also, the government guarantees the security of money. So this investment is very safe.
- In this scheme, tax exemption is not available under section 80C of Income Tax. The return on this is fully taxable. However, there is no tax on withdrawals after maturity.
- The lock-in period of this scheme is 30 months. Prior to this, money is received only on the death of the account holder and on the orders of the court.
- You can also take a loan by keeping Kisan Vikas Patra as security.
how to get double money
After the maturity of the Kisan Vikas Patra scheme, you can go to any post office and take double the amount deposited. For this, you will have to show your identity slip, which is given to you at the time of depositing money. If you do not have this slip, then you will have to go to the same post office from where you bought this scheme.