The risk is very low in the post office investment schemes. Hence they are considered better for small investors.
In the midst of the Corona crisis, people are preferring to put their money in safe investment options only. In such a situation, you can choose the Kisan Vikas Patra Yojana (KVPS) of the Post Office. On investing in this scheme, your money doubles in 10 years.
- January 18, 2021, 5:02 PM IST
This scheme of post office is named Kisan Vikas Patra (KVP) scheme. It is a One Time Investment Scheme issued by the Indian Government, that is, you cannot invest in it every month, quarter, half or yearly. You will have to invest in it at one time. This scheme is present in all post offices and big banks in the country. In the Kisan Vikas Patra, investors get double the amount invested after the maturity period. It has to invest at least Rs 1,000. At the same time, there is no maximum limit for the investment amount. This scheme is specially made for the farmers. By investing in it, they can save their money on long term basis.
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According to the official website of the post office, the maturity period of this scheme is 124 months i.e. 10 years 4 months. In other words, if you invest in Kisan Vikas Patra, your amount will be doubled in 124 months. Explain that the money invested on the amount deposited in it doubles. If you want to take a loan, then you get a loan against KVPS in lieu of this scheme with very easy terms. Also, the interest is also low. Understand in easy terms, if you are financially in trouble and you have invested in this scheme then you will get a loan easily.