PO Kisan Vikas Patra (KVP): If you do a job and want to create a huge corpus with small investment, then this news can prove beneficial for you. In fact, there are many employed people who are planning for investment.
But they back down because they are at risk of losing their money. If you are also one of them, then you can invest in the Kisan Vikas Patra Scheme (KVP) of the post office. Kisan Vikas Patra (KVP) scheme is best for long term investment. In this, your deposited money will always be completely safe. Also, KVV claims its customers to double the amount deposited under this scheme in 10 years and 4 months (124 months). Let us know about this scheme of the post office.
What is Kisan Vikas Patra Yojana?
The duration of this scheme is 124 months i.e. 10 years 4 months. If you have invested in this scheme from 1 April 2021 to 30 June 2021, then the lump sum amount deposited on your behalf doubles in 10 years and 4 months. On Kisan Vikas Patra, you get compound interest of 6.9% per annum. (Post Office Savings Scheme) Investment is made in the form of certificate in Kisan Vikas Patra (KVP). There are certificates up to Rs 1000, Rs 5000, Rs 10,000 and Rs 50,000, which can be bought.
Who can open an account in KVP?
Under this, any Indian person whose age is more than 18 years can open his account in it. However, no upper age limit has been prescribed for opening an account. But under this, KVP certificate can also be bought in the name of a minor. NRI is not eligible for this scheme.
Investment limit in Kisan Vikas Patra
You can buy Kisan Vikas Patra Certificate with a minimum investment of Rs 1,000, there is no maximum investment limit in this scheme, that is, you can put money in this scheme as much as you want. This scheme was started in 1988, then its objective was to double the investment of farmers, but now it has been opened for all. Now it can be said that Kisan Vikas Patra has nothing to do with the farmers at present.
PAN-Aadhaar will have to be given to open an account
There is also a risk of money laundering since there is no investment limit, so in 2014 the government made PAN card mandatory for investments above Rs 50,000. If investing 10 lakh or more, then income proof will also have to be submitted, such as ITR, salary slip and bank statement. Apart from this, Aadhaar also has to be given as an identity card.
