Get double cash at maturity –This Post Office scheme offers you nice returns | Personal Finance News

New Delhi: Investment choices if chosen correctly may give you long run advantages. People who’re believer of investments in conventional devices should preserve long run targets in thoughts. One such conventional funding choice is Post office financial savings schemes.

These schemes are evergreen and an excellent choice for these for many who wish to earn large within the conventional funding methods. Since the Post office scheme are government backed, they show helpful to these traders who have zero threat urge for food and wish assured return on their funding.

Kisan Vikas Patra (KVP) is a Post Office Saving Scheme that offers you double the quantity of your funding upon maturity.

Maturity interval and rates of interest of Kisan Vikas Patra

Since April 01, traders are being given rates of interest of 6.9 p.c compounded yearly. The quantity you will put money into Kisan Vikas Patra doubles in 124 months (10 years and 4​​​ months).

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Account restrict of Kisan Vikas Patra

While you want minimal of Rs 1,000 and in multiples of Rs 100 there isn’t any most restrict for investing in Kisan Vikas Patra.

Kisan Vikas Patra certificates might be bought by the next:

(i) a single grownup

(ii) Joint A Account (Maximum 3 adults)

(ii) Joint B Account (Maximum 3 adults)

(iv) Minor above 10 years of age

(i) An grownup on behalf of a minor.

(ii) A guardian on behalf of an individual of unsound thoughts

Kisan Vikas Patra is being issued within the form of Passbook. It might be bought from any Departmental Post office. The facility of nomination can be obtainable. KVP Certificate might be transferred from one individual to a different and from one put up office to a different. Certificate might be encashed after 2 & 1/2 years from the date of subject.


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