New Delhi: Kisan Vikas Patra is a popular savings certificate scheme originally launched in the year 1988 by India Post Office. Kisan Vikas Patra is basically the centre’s initiative to encourage small savings.
In the Kisan Vikas Patra scheme your money doubles in the span of 10 years. Kisan Vikas Patra also gives the flexibility to investors to withdraw early with good returns.
Out of the many schemes of the Indian Post Office, Kisan Vikas Patra is the scheme in which your money can double up in 124 months.
Benefits Of Kisan Vikas Patra Investment Scheme
- The scheme is currently giving 6.9 per cent interest.
- You can invest in this from Rs 1000 and there is no upper limit of investing.
- If you are 18 years of age or older, a single or joint account can be opened.
- After investing, you will not be able to withdraw money from this account for at least two and a half years.
- The scheme of Kisan Vikas Patra also gets income tax exemption.
Keep This In mind While Buying Kisan Vikas Patra
KVP certificates can be purchased by adults for themselves and can be bought for a minor by adults. Apart from this, it can also be transferred from one person to another person and can also be transferred from one post office to another post office. The post office rules permit that it can be encashed after two and a half years of the purchase of the KVP.