Kisan Development Patra: In today’s time, many investment options have come in the market, but there is still a large population in the country, who prefer to invest in bank, post office or LIC schemes.
Today we are telling you about such a scheme of post office, by investing in which you can double your money soon. The name of this scheme is Kisan Vikas Patra. On April 1, 2023, the interest rate available under this scheme was increased by the central government from 7.2 percent to 7.4 percent. After the increase in the interest rate, now the amount deposited under this scheme will be doubled soon. We are telling you about the details of this scheme.
Know about Kisan Vikas Patra
Kisan Vikas Patra Yojana is a lump sum deposit scheme run by the Central Government. In this scheme, the investor can get double the amount in a fixed period by investing the amount at one go. Under this scheme, you can open an account by going to any post office. This scheme is specially designed for the rural population. In this, you can invest a minimum of Rs 1,000 and a maximum of any lump sum amount.
Money will double at this time
After the government’s decision to increase the interest rate of Kisan Vikas Patra Yojana in April 2023, now the period for doubling the deposits under this scheme has been reduced. Where earlier it used to take 120 months to double, now the money under Kisan Vikas Patra will double in just 115 months. If you invest Rs 10 lakh in the scheme, then after 115 months you will get an amount of Rs 20 lakh on maturity. Under this scheme, the government gives the benefit of a compound interest rate.
Who can open the account?
If you open an account in any post office under Kisan Vikas Patra, then you can invest a minimum of Rs.1000. And the maximum amount that can be invested is in multiples of Rs.100. Two or three people can open the account together or jointly under this scheme. Under this scheme, the account of children above 10 years of age can be opened under KVP.
