The maturity period of KVP is 124 months. The minimum investment in this scheme is Rs 1000 and there is no maximum limit. You can deposit as much as you want and can also take returns accordingly. This scheme is mainly made for the farmers and low income people so that they can save their money in the long run.
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In the midst of decreasing interest rate day by day, if the deposited money doubles in a short time, then what can be a better thing than this. Such facility is not available in banks soon. But there are many post office schemes which give bumper returns in less time. One of these schemes is the Kisan Vikas Patra Scheme of the Post Office. KVP is currently getting interest or returns at the rate of 6.9 percent. According to this, the money in the KVP of the post office doubles in 124 months.
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Kisan Vikas Patra (KVP) scheme run by the post office This is a scheme where your money is safe and you get double return on maturity. Kisan Vikas Patra Scheme is run by the Government of India, which is a one-time investment scheme, where your money is doubled in a given period. The KVP scheme is present in all the post offices across the country and the major banks of the country. If you want, you can start this scheme in the post office or even in banks.
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The maturity period of Kisan Vikas Patra or KVP is 124 months. The minimum investment in this scheme is Rs 1000 and there is no maximum limit. You can deposit as much as you want and can also take returns accordingly. This scheme is mainly made for the farmers and low income people so that they can save their money in the long run. In the first quarter of FY 2021, the interest rate for KVP has been fixed at 6.9 percent. Here your investment will double in 124 months. If you invest Rs 5 lakh in lumpsum, you will get Rs 10 lakh on maturity.
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The minimum investment in this scheme is Rs 1,000. You get KVP or Kisan Vikas Patra in the form of a certificate, in which certificates up to Rs 1,000, 2,000, 5,000, 10,000 and 50,000 are given. In this, you get a guarantee from the government. The interest rate is fixed at the time of issuance of the certificate. However, there may be changes in it according to the government rules. KVP account can be opened either single or in joint if 3 people want.
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As per KVP rules, Kisan Vikas Patra can be purchased by an adult on behalf of a minor and a guardian on behalf of a person of weak mind. For Kisan Vikas Patra Yojana, you have to go to the nearest post office. Applicant should have identity proof like Aadhar Card, PAN Card, Voter ID Card, Driving License and Passport. In this plan, the account can be opened both in single and joint mode. At the same time, parents can also open an account for their young child.
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