The Post Office has brought good news for farmers. It has started a scheme called Kisan Vikas Patra (KVP) Yojana. If farmers invest in this scheme, they will get good returns. The special thing is that the government has recently increased its interest rate. At present, the scheme gives an interest rate of 7.5%.
The Government of India started the Kisan Vikas Patra Yojana to make farmers financially strong. This scheme is a one-time investment plan. This means that customers have to deposit money only once. After that, the money of farmers doubles in a fixed time. In this way, investors get very good returns. Right now, many farmers across the country are joining this scheme.
Kisan Vikas Patra New Update
The central government has increased the interest rate of Kisan Vikas Patra from 7.2% to 7.5% per year. The maturity period has also been reduced from 123 months to 120 months. At present, the government has said that investors’ money will double in just 115 months.
Kisan Vikas Patra Yojana is available in all post offices and big banks in the country. Farmers can invest at least Rs 1,000 in this scheme. There is no limit on the maximum amount.
How to Open an Account
The process of opening an account is very simple. First, you have to go to your nearest post office. There you need to talk to the official and fill out the account opening form. After this, you will get the Kisan Vikas Patra certificate.
While going to the post office, farmers should carry these documents: Aadhaar card, age certificate, passport size photo, and the KVP application form.