Currently, the Indian Postal Department is offering an easy way to double your money. With this scheme, your money can grow and double over time. Depositing money in the post office is completely safe and risk-free. If you want, you can double your money through this post office scheme. Let’s find out more about this scheme.
When people look for safe investments, post office schemes are at the top of the list. One of the most popular schemes is Kisan Vikas Patra (KVP). Many people do not know about this scheme, but if you invest 1 lakh rupees, it can almost become 2 lakh rupees over time. Let’s learn all the details about this scheme.
What is Kisan Vikas Patra and Why is it Popular?
Post Office Kisan Vikas Patra (KVP) is a safe, fixed return scheme run by the Ministry of Finance, Government of India. It is mainly for long-term investors who want stable and risk-free returns.
Reasons for Popularity:
Interest rate of 7.50% (compounded annually)
Safe and government-approved
Money can double in a fixed period
Easy account opening process
Nominee facility available
How Long to Double Your Money?
Currently, KVP gives 7.50% interest per year (compounded). If you invest ₹1 lakh, it can double in 119 months (about 9 years and 11 months). That means ₹1 lakh can become ₹2 lakh in about 10 years.
Who Can Invest in KVP?
Any Indian citizen above 18 years can open an account
Minors above 10 years can open accounts with a guardian
Joint accounts can be opened by 2 or 3 people
NRIs cannot invest
Investment Amount and Limit
Minimum investment: ₹1,000
You can invest in multiples of ₹1,000
No maximum limit – you can invest ₹1 lakh, ₹10 lakh, or more
Where to Buy Kisan Vikas Patra
Nearest post office
Selected public and private banks
Submit KYC documents like Aadhaar and PAN card
Withdrawal and Premature Benefit
KVP is for 10 years, but you can withdraw after 2.5 years (30 months) in special cases:
Death of account holder
Court order
Request by joint holder
Nomination and Account Transfer
You can appoint a nominee to get the money after your death
You can transfer the account to another post office easily and free
Tax Benefits and Restrictions
No 80C tax benefits
Returns are fully guaranteed
Returns are taxable as per your income slab
Online Facilities
Some post offices and banks allow online account opening. You can download the form, print it, and submit it.
Who Should Invest?
KVP is good for those who want:
Guaranteed and double returns
Long-term savings
Better interest than bank FDs
Safe money for family’s future
KVP vs Bank FD
| Subject | KVP | Bank FD |
|---|---|---|
| Interest rate | 7.50% (compounded) | 5.5%-7% |
| Maturity | ~10 years | 1-10 years |
| Risk | Very low | Low |
| Tax benefits | None | 80C in some cases |
| Returns | Double depending on interest | Fixed |
Is Kisan Vikas Patra Profitable?
If you want risk-free, long-term, and assured returns, KVP is a great option. It is safer than bank FDs and gives guaranteed double returns. You can also choose the tenure and amount according to your financial plan. Setting up a joint account or nominee is helpful for the future.