Kisan Vikas Patra (KVP) is a very popular scheme of the post office, in which the money doubles on investing. To avail this benefit, investors have to invest money for 9 years and 7 months.
Everyone wants that both his present and future should be financially secure, that is why he likes to invest his money in a place where he gets good interest on his money and his money is also safe. One such place is post office where one not only gets good interest on investing but the money is also completely safe here. Post office has many such schemes which attract people towards it.
Saving account
This account can be opened by any adult alone or with only two people (Joint, Two Adults only). Those who are below 18 years of age will have to open the account with a guardian. 4 percent interest will be given annually on the savings account. To open this account a minimum amount of Rs. 500 will have to be deposited for the first time. If there is no transaction from the account for three consecutive financial years, the account will go into silent mode. KYC will have to be given to operate it again.
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National Savings Time Deposit Account
is a scheme of the post office in which a lot of interest is being given on investment of one to five years. In this scheme, 6.9 percent interest is being given on investment of one year, while 7 percent interest is being given on investing money for two years. And 7.5 percent interest is being given on investment of five years. The minimum investment limit in this scheme is Rs 1000 and money cannot be withdrawn from this scheme before 6 months.
Kisan Vikas Patra (KVP)
is a very popular scheme of the post office, in which the money doubles on investing. To avail this benefit, investors have to invest money for 9 years and 7 months. For the remaining period less than that, an annual interest of 7.5 percent will be received. A minimum investment of Rs 1000 has to be made in this scheme.
National Saving Certificate:
Investing money in this scheme will fetch 7.7 percent interest per annum. But there is a catch with this interest rate, that is, the interest rate will be available only on maturity. The minimum investment limit in this is Rs 1000, although there is no limit on maximum deposit.
