Post Office KVP Calculator 2023: It is very important to invest hard earned money in the right place. There are many options for investing in the market. In this, investors choose the Investment Option in terms of risk and return. However, the Post Office Saving Scheme supported by the Central Government has always been the first choice for guaranteed and safe returns. One such scheme is the Kisan Vikas Patra (KVP) scheme, in which the investment amount doubles in a fixed period.
The amount of investment in KVP will double
In the financial year 2023-24, from April 1, the government has increased the interest rate of Post Office Small Savings Scheme. Under this, the interest on Kisan Vikas Patra has been increased from 7.2% to 7.5% annually. That is, double returns will be available in less time than before. Explain that Kisan Vikas Patra (KVP) is a one-time investment scheme run by the Government of India. This scheme is available for investment in all post offices and big banks of the country.
Money will double in Kisan Vikas Patra
Investment amount: Rs 5 lakh
Interest per annum: 7.5%
Tenure: 115 months (9 years and 7 months)
Amount at maturity: Rs 10 lakh
Special features of KVP scheme
Kisan Vikas Patra Scheme (KVP Scheme) is specially made for the farmers. This will help the farmers to save their money on long term basis. The minimum investment in the scheme is Rs 1000. While there is no limit on the maximum investment. Any number of accounts can be opened under the scheme. Account Single and 3 adults together can open joint account. Nominee facility is also available in this. Children above 10 years of age can open KVP account in their own name. Parents can open the account on behalf of a minor or a person of unsound mind.
