If you want to invest your savings in a scheme that is safe and gives good returns, then you can trust the schemes offered by the Post Office. These schemes are backed by the government, which means your money is safe. Along with safety, they also offer good interest rates.
The Post Office runs different small savings schemes for people of all ages and income groups. One special scheme among them is the Kisan Vikas Patra (KVP). This scheme guarantees that your money will double in just 115 months. Let’s know more about how to invest in this scheme and what benefits it offers.
You Can Start with Just ₹1,000
Today, everyone works hard to earn money and tries to save some part of it for the future. The Post Office Kisan Vikas Patra (KVP) Scheme is a very safe option. The best part is that the money is returned for sure. There is no risk in this scheme.
You can open an account with just ₹1,000. There is no limit on how much you can invest. You can invest any amount as you wish.
You Get 7.5% Interest Every Year
In this scheme, you get 7.5% interest per year. This interest is added to your money every year. The total time to double your money is 115 months (which is 9 years and 7 months). You can open the account alone or with someone else.
You Can Open Many Accounts
One person can open more than one account in this scheme. There is no limit. If you want, you can open 2, 3, or even more accounts.
You can also open an account for a child who is 10 years or older.
How Your Money Doubles
The main reason why people like this scheme is that it doubles your money in 115 months. This happens because the interest is added every year (compounded).
Let’s understand with an example:
If you invest ₹1 lakh:
After 1 year, you get ₹7,500 interest. Now you have ₹1,07,500.
In the second year, interest is added on ₹1,07,500. You get ₹8,062, so the total becomes ₹1,15,562.
This keeps growing every year.
If you invest ₹5 lakh, then at the end of 115 months, your money becomes ₹10 lakh
