In India, farmers are referred to as Annadata. The only reason that food can be grown in the nation and used to feed people is because of the farmers. Other programmes are also being implemented at the same time for the farmers’ benefit. The Central Government is implementing one such Kisan Yojana for the benefit of farmers. Farmers benefit from this plan by receiving favourable interest. Let’s discuss it.
This has no boundaries.
The Kisan Vikas Patra (KVP) programme is administered by the post office. Farmers are urged to invest in this Kisan Yojana and that investing in this post office programme will see good returns. They can start investing in this Kisan Yojana with as little as Rs. 1000, and there is no maximum investment amount.
Interest Rates
Farmers presently get interested in this programme at a compound rate of 7.2% per year. In this method, any number of accounts may be opened. The account can be opened through the farmers under this Kisan Yojana. KVP accounts can be opened by individuals 18 years of age and older either individually or jointly (up to three people are permitted). A guardian may also open the account on behalf of a minor who is 10 years old or older.
According to the Kisan Yojana
The Kisan Vikas Patra Yojana may be terminated after two years and six months from the date of investment, according to the Kisan Scheme Post Office website. However, under specific conditions, such as the account holder’s death, a mortgage through a gazetted authority, or an order through a court, early account closure is permitted.
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