Post office savings scheme
If you are also planning to double the money, then Post Office is a best option. In the post office you can double your money in a few months. In addition to reducing the risk, money is also saved.
From April 1, 2020 onwards, in the Kisan Vikas Patra (KVP), you get an interest of 6.9 percent per annum. At the same time, the government used to pay interest on this scheme at the rate of 7.6 percent. If you invest in this scheme of the government, then your money doubles in 10 years and 4 months. That is, it takes 124 months for the money to double. For example, suppose you invest 5 lakh rupees in this scheme, then after 124 months you will get 10 lakh rupees.
Money deposited in multiple rupees of 100 rupeesExplain that in Kisan Vikas Patra, you can deposit amount in multiple of Rs 100. At the same time, you have to deposit a minimum amount of one thousand rupees in this account. There is no maximum limit for depositing money in this account. Under this scheme, minor, adult can open their account.
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Who can open an account
Certificate in KVP Any one adult, together with a maximum of three adults, can buy a minor over the age of 10 in a joint account. Apart from this, an adult from a minor and a guardian can buy it on behalf of a person with a weak mind.