The post office scheme Kisan Vikas Patra is very popular among the people. Recently, the government has increased the interest rates of this scheme. The Center has increased the interest rate available on small savings schemes by up to 1.10 percent. If you are making an investment plan these days, then you can choose Kisan Vikas Patra as an option. This post office scheme has become more beneficial than before, because the invested amount will double in 120 months only.
From January 1, 2023 onwards, the central government will now double the money of investors in Kisan Vikas Patra in 120 months instead of 123 months. After the increase in interest rates, investment in Kisan Vikas Patra will earn interest at the rate of 7.20 percent. Earlier, under this scheme, investors used to get interest at the rate of 7 per cent on investment of 123 months. After the new change, now the maturity will be in 10 years.
You can start with this much money
You can start with just Rs 1000 in the Kisan Vikas Patra scheme of the post office. After this, investments can be made in multiples of Rs.100. Significantly, there is no maximum limit for investment in this scheme. Under this, single and joint accounts can be opened. Along with this, the facility of nominee is also available to the investor.
How to open account?
The account of a minor below 10 years of age can also be opened in the Kisan Vikas Patra Yojana. However, an adult can open the account on their behalf and the account is transferred in their name as soon as the minor attains the age of 10 years.
It is very easy to open an account for this scheme. For this, the application has to be filled in the post office along with the deposit receipt and then the investment amount has to be deposited in cash, check or demand draft. You will also have to attach your identity card with the application. After this, you will get the certificate of Kisan Vikas Patra as soon as you submit the application and money.
It is generally believed that the amount invested in the post office is safe. That is why a large number of people have invested in its schemes.