Kisan Vikas Patra (KVP), is a popular post office investment scheme which doubles the amount of money invested in 115 months (almost 9 years 7 months) at a rate of compound interest of 7.5%. The minimum investment is ₹1,000. There is no maximum limit however. KVP is a risk-free savings scheme with the backing of the Government of India for the safety and security of your money.
The scheme aims to induce long-term safe investments, especially for those who wish to avoid risk. Kisan Vikas Patra accounts may be opened in the name of the person investing, jointly with up to two other people, as well as a minor or a guardian. The investment may be made with an application at any post office or public sector bank.
There is an option to withdraw funds early if needed. In addition, Kisan Vikas Patra accounts may be used as collateral or in transfers. For these reasons, Kisan Vikas Patra is very simple to invest in and is a secure investment choice for everyone.
This scheme helps investors keep their money safe without any risk and gives double returns over time. It is best for people who want steady and guaranteed returns and do not like to take risks in their investments.
How to Invest in Kisan Vikas Patra Online
Step 1: Log in to the post office internet banking account.
Step 2: Go to General Services, click on ‘Service Request’, and then select ‘New Request’.
Step 3: Click on KVP Account.
Step 4: Enter a minimum amount of ₹1,000 (in multiples of ₹100).
Step 5: Select the post office savings account from which the money will be debited.
Step 6: Read the terms and conditions and click on ‘Click Here’ to continue.
Step 7: Submit the form online.
Step 8: Enter your transaction password and click Submit.
After completing these steps, log in again to see your KVP account details.