Post Office KVP Scheme: Rising inflation has increased people’s expenses, making saving difficult. Investors are looking for schemes that can double their money with a low investment. But there’s no need to worry; the government is running a government scheme that offers safe investments and double returns.
We’re talking about the Post Office Kisan Vikas Patra Scheme, specifically designed for the middle class. Both rural and urban residents can easily invest in it. Investors receive 100% returns under this government scheme. Let’s learn more about it.
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How much can you invest?
For your information, you can invest a minimum of ₹1,000 in the Kisan Vikas Patra Scheme. There is no maximum investment limit. Investors are offered interest at a rate of 7.5% under this scheme. This special post office scheme doubles returns in 115 months, or 9 years and 7 months. If you invest ₹10,000, you will receive ₹20,000 as a return.
Required Documents for the KVP Scheme
Every segment of society can start investing in the Kisan Vikas Patra Scheme. However, certain documents are required. These include Aadhaar card, PAN card, voter ID card, passport or driving license, income certificate, passport-size photo, etc.
How to Apply
Investing in the KVP scheme is easy. You simply need to visit a nearby bank or post office. You will then need to fill out a form, which includes your name, address, contact details, investment amount, and nominee information.
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Learn How to Calculate Investments
If you are considering investing in the Kisan Vikas Patra Scheme, first find out how much you will receive upon maturity. For this, you can use the online KVP calculator. In this, you will get information about the returns by just filling in your investment amount and period.
If you invest Rs 1 lakh in this scheme, then you get 7.5 percent interest annually. Before this, you will get Rs 7500 as interest in the end. After adding this interest, your amount will become Rs 1 lakh 7 thousand 500. In the second year, there will be Rs 1 lakh 7 thousand 500, of which approximately Rs 8 thousand 62 will be made. After this, the total amount will become Rs 1 lakh 15 thousand 562. In this way, after adding interest every year, the total amount will become Rs 2 lakh.
