If you are looking to invest your hard-earned money in a place where there’s zero risk and strong returns, the Post Office Kisan Vikas Patra Scheme could be a good option. This government small savings scheme assures investors of a safe investment and attractive interest rates. Significantly, the amount deposited in this scheme doubles in just 115 months. The government administers it, so there’s zero risk, and investors enjoy secure returns.

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What is Kisan Vikas Patra?

Kisan Vikas Patra, or KVP, is a fixed-return government savings scheme designed for small and medium investors. Its objective is to encourage people to make safe investments and provide long-term financial security. This scheme is available through post offices, and investors of all ages can deposit money.

Account Opening Process and Minimum Investment

Opening a KVP account is very easy. Investors can start investing with just ₹1,000. There is no maximum investment limit in this scheme, meaning you can deposit as much as you want. This feature also makes it beneficial for those who want to invest large sums. The account can be opened in either single or joint form. Children over the age of 10 are also allowed to open this account.

Interest Rate and Time to Double Money

Currently, the Kisan Vikas Patra scheme offers an annual interest rate of 7.5 percent. This interest is compounded, meaning that the interest amount is added to the principal amount each year and continues to pay interest in the following year. This is why the amount doubles in 115 months, or approximately 9 years and 7 months. While many investment schemes in the market carry high risk, this government scheme offers stable interest and secure returns.

How Money Doubles

Suppose an investor deposits ₹1 lakh in the Kisan Vikas Patra. At the end of the first year, he will receive interest of ₹7,500 at a rate of 7.5 percent per annum, which will be added to the principal amount and generate interest in the next year. In the second year, this amount will grow to approximately ₹1,07,500, earning an interest of approximately ₹8,062. The amount increases annually and is returned doubled upon maturity. If an investor invests ₹5 lakh, he will receive ₹10 lakh upon maturity.

Who can open an account?

Any Indian citizen is allowed to invest in Kisan Vikas Patra. Investors can open more than one KVP account. This facility is beneficial for those who plan to invest at different times.

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Premature Withdrawal Rules

Although this scheme is long-term, premature withdrawal is permitted if needed, subject to certain conditions. This feature makes it even more useful.