Post Office Scheme: There are many options available to you if you want to invest money. Since some investments are high risk, they give good returns. On the other hand, some investments have absolutely zero risk and good returns. Now if you are looking for an option that gives a good return on zero risk then you can invest in Post Office Saving Scheme Kisan Vikas Patra.

Let us tell you that there is a government guarantee on the Kisan Vikas Patra scheme, so this scheme is quite safe in this respect. Also, the returns are good. Let us know about this plan.

What is Kisan Vikas Patra (KVP)?

The duration of Kisan Vikas Patra Yojana is 10 years and 4 months. If you invest in this scheme from 1st April 2022 to 30th June 2022 then the lumpsum amount deposited by you doubles in 10 years 4 months. In this scheme, a compound interest of 6.9% is given annually.

You can invest as much as you want:

You can buy Kisan Vikas Patra Certificate with an investment of as low as Rs 1,000, there is no investment limit. That is, you can put as much money into it as you wish.

This scheme, which was previously only available to farmers, began in 1988. But now everyone can open it. Let us inform you that if you make an investment of more than Rs 50,000, you will be required to present a PAN card.

If you invest more than ten lakhs, however, you must provide proof of income, such as an ITR, a salary slip, or a bank statement, among other things. You will also be required to present your identification card.

Read More: Blue Aadhaar Card: Have you seen the blue-colored Aadhaar card? For whom it is necessary, know – how to apply.

What happens in Kisan Vikas Patra Scheme?

• One can invest in it in denominations of 1000, 5000, 10000, and 50000.
• Guaranteed returns are available on this plan. That is, the money you put into it is entirely secure.
• You can withdraw the amount on maturity. after 124 months, although it has a 30-month lock-in period. Until the account holder’s death or a court ruling, you won’t be able to withdraw money from the program.
• You can also take out a loan using Kisan Vikas Patra as security or collateral.
• Section 80C of the Internal Revenue Code provides for a tax exemption. This generates a completely taxable profit. After maturity, there is no tax on withdrawals.

Required Certificates:

To open this account you need identity proof like Aadhar Card, PAN Card, Voter ID Card, Driving License, and Passport. You can open a single or joint account as per your requirement.