If you are looking for a safe investment and want to choose such an option in which your investment is absolutely safe and there is no risk of drowning, then today we are going to tell you about a scheme of the government in which your money Will be completely safe and interest will also be much higher than bank FD. Kisan Vikas Patra (KVP) is one such scheme, which is run by the Indian Post Office. Let’s know about this plan….
KVP is a long term savings plan in which you can invest for a maximum tenure of up to 124 months i.e. 10 years 4 months. In this, you get an annual interest of 6.9 percent and being a post office scheme, it is considered one of the safest investment options and there is no risk of losing money.
Minimum investment in KVP: Investment in Kisan Vikas Patra can be started with a minimum investment of Rs. There is no maximum investment limit in this. However, while taking Kisan Vikas Patra of more than 50 thousand, you will have to show PAN card and also tell about the source of your income.
In how many years the money will double in KVP: At present, the government is giving 6.9 percent interest on Kisan Vikas Patra. Calculated according to this interest rate, your money will double in 10 years 4 months. Here you have to keep in mind that if you invest in KVP then it has a lock in period of 30 months (2.5 years) i.e. you cannot withdraw your money before this period.
Tax benefits in KVP: By investing in KVP, you are given a deduction of up to 1.5 lakh rupees in tax under section 80C of Income Tax.
Invest in KVP: You can buy KVP from any post office in the country. Any Indian citizen above 18 years of age can buy it. Along with this, investment can also be done through HUF (Hindu Undivided Family). However, no NRI is allowed to invest in it.