Post Office Saving Scheme: Every person wants to secure his future by saving something from his income. Keeping in mind these needs of the people, the Indian Postal Department is running many saving schemes, in which people are also benefiting a lot. Many of these are such schemes which are quite popular among the people.
One of these schemes of the Post Office is Kisan Vikas Patra. This is a small saving scheme. It is for small to large investors. Like this scheme, the post office is giving good returns and investors are also getting tremendous returns on investment. This is one of the most beneficial and return giving schemes of the post office.
This is such a scheme of the Indian Postal Department in which the investor’s money doubles after a certain time. Investment in this scheme (Kisan Vikas Patra) is getting interest rate of more than 7 percent. In this, the investment doubles in 9 years 7 months i.e. 115 months.
Actually, in this scheme, interest is calculated on the basis of compound interest on the investment. If you invest Rs 5 lakh in this scheme, then it becomes Rs 10 lakh after a certain time.
The minimum investment limit in this scheme is Rs 1000 while the maximum limit is not fixed. You can invest anything above Rs 1000 in Kisan Vikas Patra according to your capacity.
Anyone can invest in Bhartiya Kisan Vikas Patra Yojana. Under this, parents can open the account of children below 10 years of age and any of the parents can be the nominee.
