look news india
personal Finance: Most people who invest want their investment to double in the short term. But it requires a long time and patience. If you want to double your capital in a safe investment option then you can invest in Kisan Vikas Patra. The interest on this scheme is 7.5% compounded annually. In which your capital doubles in 115 months i.e. nine and a half years.
What is Kisan Vikas Patra?
Kisan Vikas Patra issued by India Post is a small savings scheme launched in 1988. Its objective is to provide attractive returns to investors over the long term rather than disciplined investment. In which you will have to spend at least Rs. Rs 1000 can be invested. If invested in lump sum, it doubles in nine and a half years. For this you do not need to be a farmer. Anyone can participate in this scheme.
Who can invest?
To invest in Kisan Vikas Patra one must be a citizen of India. Anyone above 18 years of age can invest. Neither Hindu Undivided Families (HUF) nor Non-Resident Indians (NRIs) can invest in this scheme.
Benefits of Kisan Vikas Patra
Guaranteed Returns: You are assured of guaranteed returns even in market volatility. In which the capital almost doubles when compound interest is applied.
security of capital : Being a government small savings scheme, it is 100 percent safe. In which once you invest, you get 100 percent return on the fixed maturity.
Inflation based interest rate: The Central Government changes the interest rates of Kisan Vikas Patra every 3 months. In which the interest rate is determined on the basis of inflation. At present the interest rate for the first quarter of 2024-25 is 7.5 percent.
Taxation: Kisan Vikas Patra is not eligible for deduction under Section 80(C) of the Income Tax Act. Therefore the interest income is fully taxable. In which 10 percent TDS is deducted every year after interest credit. Lock in period is 30 months (two and a half years).
