The post office has told from its social media Twitter account that Kisan Vikas Patra (KVP) is a fixed return scheme that provides guaranteed returns and is supported by the Government of India. It can be started from 1000 rupees.
If you want to double the guaranteed money, then Kisan Vikas Patra (KVP) can be a good option for you. The Kisan Vikas Patra is a one-time investment scheme issued by the Government of India, where your money doubles in a set period of time. Kisan Vikas Patra is present in all post offices and big banks of the country. Kisan Vikas Patra is a kind of certificate. Interest rates are written on it. It can be purchased from post offices spread across the country. Currently, it is getting 6.9 percent interest. These interest rates are valid from 1 April to 30 June 2021.
How to open account-For Kisan Vikas Patra, you can open an account by going to any post office nearby and filling the form. Apart from this, the form can also be downloaded online. The amount of the KVP form can be paid through check or cash.
Kisan Vikas Patra (KVP) is a fixed return scheme that provides guaranteed returns and is supported by the Government of India. Under this, start investing with a minimum amount of Rs 1000 / -. For more information, go to: https://t.co/oDktgemmMY #AapkaDostIndiaPost pic.twitter.com/2pPRlouC9i
— India Post (@IndiaPostOffice) April 5, 2021
Question: In what time does money double?
answer-If you put money in Kisan Vikas Patra, then it can double in about 10 years and 4 months according to the current annual interest rate of 6.9 percent.
Question: Is there a tax rebate on putting money in it?
answer-You also get tax benefit on Kisan Vikas Patra. Tax is not deducted at source in this scheme. Meaning you are not given the money of maturity by deducting TDS. However, you cannot get exemption under 80C.
Question: Who can buy it?
answer-It is necessary to be at least 18 years of age to put money in Kisan Vikas Patra. The Hindu Undivided Family (HUF) and NRI cannot invest in the scheme.
Question: How much money can be put?
answer-According to the information given on the post office website, the minimum investment in it should be 1000 rupees. Any amount can be invested in a multiple of 1000 rupees.
Question: Is it even in the middle Money can be withdrawn?
answer-Experts say that you will have to wait at least 2.5 years to withdraw money. It has a lock in period of two and a half years.
Question: Can it be transferred to someone else’s name?
answer-In this, this certificate can be transferred from one person to another. It can also be transferred from one post office to another post office. It can also be purchased online from some banks in the country.
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