This put up workplace scheme doubles your cash with assured return assurance

Post Office Scheme: Kisan Vikas Patra is without doubt one of the put up workplace saving schemes that guarantees to double an investor’s cash with assured assured return. It is without doubt one of the central authorities backed small financial savings scheme. Since, the middle has left small saving schemes’ rate of interest unchanged; Kisan Vikas Patra rate of interest has additionally remained regular at 6.9 per cent.

According to the India Post web site, this put up workplace scheme has a maturity interval of 124 months and an investor’s cash will get doubled on this interval as India Post claims, “Amount Invested (in KVP) doubles in 124 months.” One can make investments on this small financial savings scheme with a minimal of ₹1,000 and within the a number of of ₹100 with no restrict on most funding. There isn’t any bar as to what number of put up workplace KVP accounts an investor can open. KVP may be pledged or transferred as safety, by submitting prescribed utility type at involved Post Office supported with acceptance letter from the pledgee. An investor can switch its KVP certificates from one put up workplace to a different. In reality, KVP certificates may be transferred from one individual to a different as properly.

Speaking on the Post Office Kisan Vikas Patra scheme, SEBI registered tax and funding knowledgeable Jitendra Solanki stated, “Interest rate in Post Office Kisan Vikas Patra is fixed throughout the investment period. An investor gets KVP interest rate on one’s deposit being given by the central government at the time of account opening. For example, if someone had opened the Post Office Kisan Vikas Patra account in January to March 2020 quarter, he or she will get an annual interest rate of 7.6 per cent at the time of maturity. Current Kisan Vikas Patra interest rate of 6.9 per cent will be applicable to the new accounts getting opened in current quarter.”

KVP rate of interest was decreased from 7.6 per cent to six.9 per cent in April to June 2020 and it has remained regular until date.

So, return in Post Office Kisan Vikas Patra account is risk-free, secured and assured. On who ought to put money into KVP Jitendra Solanki stated, “This post office small savings scheme suits to those who have zero risk appetite. It’s advisable to those also; who believe in a diversified portfolio where some part of the portfolio must be invested in secured and guaranteed return plans.”

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