The stock market has seen a lot of uncertainty for the last three months. As a result, investors are bringing variations in their portfolios to get higher returns. At the same time, investors are also understanding the importance of government-supported small savings schemes. These risk-free schemes provide assured returns. Post office schemes are also attracting a lot of investors. One of them is the Kisan Vikas Patra Yojana. Investors can get assured returns by investing in this scheme.
For your information, let us tell you that with the Kisan Vikas Patra scheme, investors can double their investment in a very short time. This scheme is a very popular small saving scheme supported by the central government. For this scheme, the rate of interest and doubling of investment is fixed by the government every three months. According to the website of India Post, the period of maturity in Kisan Vikas Patra is 124 months. This means that the customer’s investment in the scheme will double in 124 months, ie 10 years and 4 months. In this scheme, the interest rate is being given 6.9 percent from April 1, 2020. If an investor will invest one lakh rupees in Kisan Vikas Patra, then after 124 months, he will get two lakh rupees on cashing the Kisan Vikas Patra. Let us tell you that what are the features of this scheme.
1. Kisan Vikas Patra can be purchased by any single adult, a maximum of three adults for a joint account, a minor above 10 years, an adult for a minor and a guardian for a person with disability.
2. Kisan Vikas Patra is issued in the form of passbook.
3. The minimum amount of investment in Kisan Vikas Patra is Rs 1,000. At the same time, there is no maximum investment limit.
4. Investor can also transfer Kisan Vikas Patra from one post office to another post office.
5. Investor can redeem Kisan Vikas Patra after two and a half years from the date of issue.
6 .. Customers can buy Kisan Vikas Patra from any departmental post office.
7. Kisan Vikas Patra can be transferred from one person to another.
8. Nomination facility is also available in this post office scheme.