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Know Eligibity, interest rates and benefits of Kisan Vikas Patra

Post Office (PO) offers a wide range of savings schemes to cater to the requirements of people. Many prefer investing in different post office schemes—assured guaranteed returns and risk-free investment. Considering the long-term benefits,
the schemes are capable of doubling the money.

An individual can invest their money in schemes like National Savings Certificate (NSC), Sukanya Samriddhi Yojana, Senior Citizen Saving Scheme (SCSS), Kisan Vikas Patra (KVP), and Post office Fixed Deposit to name a few. Check the details of the schemes here:

Kisan Vikas Patra (KVP):

Kisan Vikas Patra can double your money in 10 years and three months at an interest rate of 7 percent.

Invest Rs 2 lakh in the KVP plan; after 123 months, the investors will get Rs 4 lakhs.

A minimum investment of Rs 1000 can be made under this scheme.

Investors above the age of 18 can invest in the KVP scheme.

The Post Office allows investors to open single and joint accounts in this scheme.

The maximum number of individuals is capped at three in this scheme.

Parents can also open an investment account in the KVP scheme in the name of their children. Investors can also select nominees in the schemes.

National Savings Certificate (NSC):

The NSC is earning an interest of 6.8 percent at present.

The investment into the scheme matures in five years; investors will have to extend the asset after the 5th and the 10th year.

If an investor deposits Rs 2 lakh for five years, at maturity, they will get Rs 2,77,899.

If investors deposit the maturity amount again for five years, in the 10th year, they will get Rs 3,86,139.

Post Office Fixed Deposit (POFD):

This scheme offers a return of 6.7 percent on Fixed Deposits (FDs) of five years.

The investors will have to renew it after every five years. If the investor invests Rs 2 lakhs, they will get Rs 2,67,000 upon maturity.

If investors reinvest it, they will get Rs 3,56,445 after the next five years.

Senior Citizens Savings Scheme (SCSS):

The SCSS is giving a return of 7.6 percent to investors. If they invest Rs 2 lakh, the investors will get Rs 2,76,000 after five years at the current rate.

If the investors reinvest, he or they will get Rs 3,72,608 after the next five years.

Sukanya Samriddhi Account Scheme:

Investors receive a 7.6 percent interest rate under this plan. The money of investors will double in this scheme in 9.47 years.

Monthly Income Scheme (MIS):

The MIS can earn ten basis points more at 6.7 percent compared to the existing 6.6 percent.


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