Now by investing within the Kisan Vikas Patra (KVP) scheme of the put up workplace, you’ll get 7 % annual curiosity as a substitute of 6.9%.
Fat returns can be obtainable within the particular scheme of the put up workplace
If you spend money on put up workplace schemes, then this data is essential for you. The put up workplace has elevated the curiosity obtainable on lots of its small financial savings schemes. Let us let you know that now on investing within the Kisan Vikas Patra (KVP) scheme of the put up workplace, you’ll get 7 % annual curiosity as a substitute of 6.9%. Right now a lot of the massive banks of the nation are giving curiosity as much as a most of 6% on FD, so by investing cash on this scheme, you’ll be able to take good benefit.
Along with this, facility is being given to switch this certificates from one particular person to a different underneath the Post Office Kisan Vikas Patra scheme. It will also be simply transferred from one put up workplace to a different put up workplace. It is essential for the particular person investing in Kisan Vikas Patra to be no less than 18 years previous. In addition to a single account, the ability of a joint account can be supplied. If you need to embody a minor on this put up workplace scheme, then you’ll be able to simply embody him too, however his mother and father should maintain it.
Cannot withdraw cash until completion of two and a half years
If you need to withdraw your invested cash, then it’s a must to look ahead to no less than two and a half years (30 months). It has a lock-in interval of two and a half years. That is, you can’t withdraw cash from this scheme for thus a few years. If you make investments cash in Kisan Vikas Patra, then it’s going to double in about 10 years 3 months (124 months) in keeping with the present 7% annual rate of interest.
Nomination may be finished earlier than maturity
Nomination will also be finished whereas buying the certificates underneath this scheme, for this you’ll have to fill Form C. You could make a nomination on this scheme at any time earlier than maturity. However, in case you have greater than 1 certificates on completely different dates, then on this case separate purposes for nomination and cancellation should be made.
Benefits of Kisan Vikas Patra
Kisan Vikas Patra shouldn’t be designed to draw traders who’re in search of an choice to avoid wasting tax. There isn’t any tax deduction on the principal quantity and curiosity. Although it nonetheless affords some main advantages to the traders. There is a authorities backed financial savings choice with assured returns within the type of Kisan Vikas Certificate. Long-term funding within the type of Kisan Vikas Patra In this scheme you make investments near 10 years and it doubles your cash. There isn’t any most restrict on farmer improvement. Kisan Vikas Patra can be utilized as a assure to get loans from banks at most well-liked charges. Transfer can happen from one particular person to a different in addition to from one put up workplace to a different.
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