Kissan Vikas Patra ( KVP)
Kissan vikas patra is a post office scheme, offers 7.3% interest rate p.a, compounded annually by India post office. Under this scheme your money will be doubled in 9 years 10 months.
Many people showed much interest to get kissan vikas patra because you can double your money that helps you to meet your long term goals. The scheme is most popular among post office schemes
Can open in your nearest post offices, you can enroll nominee as well
Features of Kissan Vikas Patra ( KVP):
- A post office scheme, launched in the year of 1988, a very old scheme
- Minimum investment is 1000 Rs
- Offers 7.3% interest rate
- Certificates can be purchased by adults or behalf of the minor
- Money will be doubled in 9 years 10 months
- You can avail nominee facility to your deposits
- Certificates can be converted to cash if you want after 2 and half years
- The scheme can be opened in behalf of minor or major
- A joint account also can be opened under this scheme
- No maximum limit to deposit money under this scheme
Review of Kissan Vikas Patra Scheme:
Positives Kissan Vikas Patra Scheme:
Positives Kissan Vikas Patra Scheme:
- The scheme offers 7.3% interest rate
- Helpful to meet long term goals
- Safety investment to double your money
- Can avail loan on your certificates
Negatives of Kissan Vikas Patra Scheme:
- 9 years 10 months is very long time to double your money
- Interest rate is not up to mark
- Can opt for other post office schemes comparing with kissan vikas patra
- No income tax benefits are allowed, interest & investment amount are taxable
- It cannot be traded in secondary market
Always relook before investing in any post office schemes; it may give good returns if you select the correct scheme as per your needs.
