Do you want to invest your savings in a place where your money doubles in a few years without market risks? Then this news is especially for you. Today, we are going to tell you about a great investment scheme of the post office, named Kisan Vikas Patra Yojana. This is a long-term savings scheme backed by the government.
This scheme has been launched especially for small investors and people living in rural areas. The most special thing about this scheme is that your invested amount in it doubles completely in a certain time. Kisan Vikas Patra Yojana is very popular in the country, and the reason for this is its safety and assured returns.
Kisan Vikas Patra
On investing in the Kisan Vikas Patra scheme of the post office, you are given an excellent interest rate by the government. Currently, by investing in this scheme, you are getting an attractive interest rate of 7.5 percent per annum. You can invest a minimum of ₹ 1,000 in this scheme. At the same time, no maximum limit of investment has been set.
This means that you can invest any amount as per your wish. In Kisan Vikas Patra Yojana, you can start investing in the form of a single account as well as a joint account. This flexibility meets the needs of different investors. You can also open an account in Kisan Vikas Patra Yojana in the name of a child above 10 years of age, so that you can also save for their future.
In how much time will your money double
The biggest feature of Kisan Vikas Patra Yojana is its promise to double the money in a fixed period. The amount you invest in this scheme doubles in 115 months. This means that it takes about 9 years and 7 months for the amount you invest to double.
Understand with an example:-
If you invest a lump sum of ₹6 lakh in this scheme, then after 115 months (about 9 years and 7 months), you will get back ₹12 lakh. This is a safe and assured investment opportunity for those who do not want to take the risk of market fluctuations. Many people in the country are investing in this scheme to grow their savings safely.
Why is Kisan Vikas Patra a great option
Kisan Vikas Patra Yojana is considered a great investment option for many reasons. It is a scheme backed by the Government of India, which means that your investment is guaranteed complete security. This is unlike market-linked investments, where there is a risk of capital loss. The interest rate is fixed in advance (currently 7.5%), so you know how much you will get on maturity. It is ideal for those who want to save for their long-term financial goals, such as children’s education, marriage, or retirement.
The process of opening an account and investing is simple and can be completed at any post office. Although it does not offer direct exemption under Section 80C of the Income Tax Act, the maturity amount may be taxable. Still, it is a safe option for those who prefer capital protection over tax benefits.