look news india
Kisan Vikas Patra: Often people are looking for such schemes which can give them huge profits and also there is no risk. Today we are telling you about a scheme which will double your investment. Since it is a government scheme, there is no risk in it. This scheme is linked to the post office. This scheme of post office will give you guaranteed returns.
In this scheme of Post Office, the money is guaranteed to be doubled. At present, the annual interest rate on Kisan Vikas Patra (KVP) scheme is 7.5 percent. Kisan Vikas Patra is a lump sum investment scheme run by the Government of India. In this scheme you can double your money within a certain period. You can invest in this scheme through post office or big banks.
How long will it take for the money to double?
Under the Kisan Vikas Patra Yojana (KVP) of the post office, the minimum investment can be Rs 1000. However, if you want to invest more, you can invest as much money as you want. This scheme gives returns at the rate of 7.5 percent per annum. Last year, in April 2023, its interest rates were increased from 7.2 percent to 7.5 percent. Earlier, it used to take 120 months for the money to double in this scheme, but now the money will double in 115 months i.e. 9 years and seven months.
5 lakh will become 10 lakh rupees
If you invest Rs 5 lakh in this scheme, you will get returns at the rate of 7.5 percent per annum. According to the calculation, one will have to wait for 115 months for the money to double. That means your money will double in 9 years and 7 months. Whereas if you invest Rs 6 lakh in lump sum, then in this period this amount will become Rs 12 lakh.
Can you open a joint account?
If you want to open an account under this scheme then you can open Kisan Vikas Patra account in single and joint account. Under this scheme of the post office, three people can open a joint account. However, adding a nominee is mandatory under this plan. If you wish, you can close this account after 2 years and 6 months.