Business News Desk – Kisan Vikas Patra is a fixed rate small savings scheme (Government Small Savings Scheme). Which is designed to make investing easier. In this, a certificate is issued to the investor and at the time of maturity the investment amount is doubled. That means the investor does not have to do much calculation of the investment and he knows after how much time his money will double. The scheme aims to promote risk-free long-term investments among the common people. And more and more people can save money for their future. But…
How long it will take for your investment in Kisan Vikas Patra to double depends on the interest rate at the time of your investment. As per the latest update, the interest rate for KVP is 7.5 percent and at this rate, the money will double in approximately 115 months (9 years and 7 months). The period for doubling your investment is linked to the interest rate declared by the government, so it is important to check the current rates before investing.
How to buy Kisan Vikas Patra?
You can buy KVP from any post office or designated banks across India. Know the step-by-step process of buying KVP-
Visit any post office or bank: KVP certificates are available at any post office and select banks.
Fill the Application Form: You have to fill the KVP application form and provide your identity proof like Aadhar Card or PAN Card.
Pay: You can invest a minimum of ₹1,000 and increase it in multiples of ₹1,000.
Receive Certificate: Once your payment is made, you will receive a KVP certificate as proof of your investment. You can choose physical certificate or electronic certificate (EKVP). Since KVP is backed by the Government of India, your investment is safe.
