There are many types of post office schemes (Post Office Scheme), in which lakhs of people of the country invest. There is no risk of any kind while investing here. Investing in these schemes also gives excellent returns.
At the same time, there are some schemes in which interest is more than fixed deposit ie FD. National Saving Certificate (NSC), Sukanya Samriddhi Yojana, Senior Citizen Saving Scheme (SCSS), Kisan Vikas Patra (Kisan Vikas Patra – KVP) are all such schemes. Good money can be made in a safe way by investing in them.
In such a situation, if you want to invest money in a government scheme for a long time and also want to avoid risk, then the Kisan Vikas Patra scheme of the post office can be a good option for you. Any adult citizen can open his account in this. If you want, you can also open a joint account in the name of 3 people.
Investment in KVP will double your money
Kisan Vikas Patra (KVP) is a savings scheme provided by the Government of India. This is a double money scheme of the Government of India where you get interest at the rate of 6.9% per annum and it doubles in 124 months (10 years and 4 months). You can start with investing as little as Rs 1,000 in KVP. There is no maximum investment limit in this. You can open any number of KVP accounts.
Post Office’s National Saving Certificate Scheme
6.8 percent interest is being received on the National Saving Certificate of the Post Office. Along with guaranteed returns on NSC, tax exemption is also available on the amount invested. The maturity period of this scheme is for 5 years. Your money will double in about 10.59 years on investment in this 5-year savings scheme.
Time deposit scheme
Post office time deposit is a great scheme to double the money. In this, the benefit of interest is available at the rate of 5.8 percent on time deposits ranging from 1 to 3 years. By investing in it, your money will double in about 13 years.
Sukanya Samriddhi Yojana
Post Office’s Sukanya Samriddhi Yojana is currently getting interest at the rate of 7.6 percent. A maximum investment of Rs 1.5 lakh and a minimum of Rs 250 can be made in this scheme in a financial year. Annual compound interest is available on this scheme. This post office scheme will double your money in nine and a half years i.e. 113 months. By the way, after 21 years of investing in this scheme, the benefit of maturity is available.
Senior Citizens Savings Scheme
Your money will double in about 113 months in the Senior Citizen Savings Scheme of the Post Office. In this scheme, the benefit of interest will be available at the rate of 7.6 percent.
