Govt Saving Schemes: The new interest rate has been implemented from 1 October 2022. The money invested doubles in 123 months (10.3 years) with 7 percent interest rate.
KVP Interest Rate: If you also believe in investing in government schemes for the future, then this news will definitely make you happy. In the last days, the interest rate has been increased on some government schemes including Kisan Vikas Patra (KVP) by the government. With the increase in interest, now your investment will be doubled sooner than before.
Under the new interest rate scheme applicable from October 1, you can apply in post office or any bank. At present, 7 percent interest is being given on Kisan Vikas Patra (KVP). The new interest rate has been implemented from 1 October 2022. The money invested doubles in 123 months (10.3 years) with 7 percent interest rate. Earlier it used to take 124 months for this money to double.
You can invest with a minimum of Rs 1000, under Kisan Vikas Patra, you can invest with a minimum of Rs 1000. If you want to invest more than this, then you have to do it in multiples of Rs 100. There is no limit on the maximum investment in Kisan Vikas Patra. You can buy Kisan Vikas Patra (KVP) by visiting any post office or bank. You can invest in this either singly or jointly.
Any person can also take more than one Kisan Vikas Patra. You can also take a loan by pledging it if you need money. Not only this, you can also transfer it in the name of your wife or child. In this plan, you can withdraw twice your money anytime after 123 months. If you keep this money for a longer period, then you get the same benefit.
