If you get double maturity with Post Office Scheme safe investment, then it will be like icing on the cake. You can invest your money in a special post office scheme. Here we are talking about Kisan Vikas Patra of the post office. Recently the government has increased the interest rate for this scheme. In this scheme the money doubles in a short time.
Investing is considered a wise decision. In bad times, our invested money comes in the form of savings. However, every second person remains in dilemma regarding investment. Every other person wants his investment to be safe.
Not only this, if you get double maturity along with safe investment then it is like icing on the cake. If you are also planning to invest, then this news can be of use to you. In this article, we are telling about one such scheme of post office where you get both these benefits.
Post Office Kisan Vikas Patra Scheme
You can choose the post office Kisan Vikas Patra scheme for investment. This scheme is a one time investment scheme of the Government of India. That is, investment is required only once in the scheme.
The good thing is that the central government has increased the interest rate for the scheme from April 1 this year.
Condition of investment in this scheme of post scheme
- If your age is more than 18 years then you can invest in this scheme.
- In the scheme, you get the facility of single and joint account.
- If the age is less than 18 years, then the account can be opened with the parents.
- The scheme is available to all except HUF or NRI.
- The scheme has certificates of Rs 1000, Rs 5000, Rs 10,000 and Rs 50,000.
How to get double return on maturity
Under the Kisan Vikas Patra scheme of the post office, the interest rate has now been reduced to 7.5 per cent. Investing in the scheme doubles your money in 9 years and 7 months. On investing Rs 2 lakh in the scheme, double amount ie Rs 4 lakh is received in 115 months.
