Whenever it comes to investment, FD is given priority to safe investment options. But now safe investment options also include the Post Office Small Savings Scheme. It provides security as well as guaranteed returns. If you are also looking for a scheme with a safe option for investment, in which you get high interest, then you should once look at Kisan Vikas Patra. In this scheme, the investment amount is guaranteed to double. If you also want to grow your money safely and fast, then this scheme is for you.
About Kisan Vikas Patra Yojana
This scheme was started in the year 1988. This scheme aimed to double the investment amount of farmers. Initially, this scheme was only for farmers, but later anyone could invest in it. Now a single account as well as a joint account can be opened in this scheme. Along with this, an account of a child above 10 years can also be opened. To open a child’s account, parents have to submit an Aadhaar card, age certificate, passport-size photo, KYP form, etc. Along with the child’s Aadhaar card, the Aadhaar card of the parents also has to be submitted. This scheme is accessible and beneficial for all.
How much money will grow in Kisan Vikas Patra
This means that if you invest ₹ 10 lakh in this scheme, then after maturity you will get double the profit i.e. ₹ 20 lakh. In this scheme, the money is guaranteed to double after 115 months (9 years, 7 months). Currently, this scheme is getting 7.5 percent interest. This interest is calculated on an annual basis. The special thing about this scheme is that the investor can start investing with just ₹ 1000 and there is no maximum limit of investment. Apart from this, you can open any number of bank accounts for this scheme. This scheme gives you the opportunity for financial security and rapid wealth growth.