Double your money in less than ten years with Kisan Vikas Patra (KVP). Here is how
money at the current interest rate. KVP is a risk-free investment option offered by the Indian post office, which is a preferred choice for many people in the country.
It is a good option for those looking for long-term investment. It doubles a one-time investment in approximately 9 years and 7 months .
For instance, a Kisan Vikas Patra for ₹50,000 will get you a corpus of Rs1,00,000 post-maturity. A single adult, or a joint account with up to three adults can open a KVP account.
A guardian on behalf of a minor or on behalf of a person of unsound mind can also open an account. A minor above 10 years can get his KVP account in his or her own name An eligible person can open any number of accounts.
Premature closure of account KVP may be prematurely closed at any time before maturity if the following conditions are true: KVP does not qualify for deductions under Section 80C of the Income Tax Act. The returns on Kisan Vikas Patra investments are taxable.Milestone Alert!
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