If you are worried about decreasing interest rates on FD, then invest in this scheme of post office

In the post office Kisan Vikas Patra (Kisan Vikas Patra) scheme, you can invest your money for good returns. In this scheme you will get 6.9 percent interest. The maximum amount you can invest in KVP scheme. But in this scheme you must make a minimum investment of up to 1000 rupees.

new Delhi. During the economic downturn, all the government and private banks of the country have drastically cut the interest rates on fixed deposits (FD). In such a situation, if you are worried that you should invest your money for higher returns. So we can reduce your difficulty a little bit. Now we are going to tell you about a post office scheme where you will get more interest from the bank and your money will also be safe.

Post Office Kisan Vikas Patra (KVP) Savings Scheme – You can invest your money for good returns in the post office KVP scheme. In this scheme, you will get an annual interest of 6.9 percent. The customer who invests money in this scheme is given a certificate in the form of a bond from the post office. Which you can get from any post office in the country.

No maximum limit for investment in KVP scheme – You can invest maximum amount of money in post office KVP scheme. But in this scheme you must make a minimum investment of up to 1000 rupees. This scheme is another facility. You can easily transfer the certificate of investment made in this scheme to any other person as well as it can be transferred from one post office to another post office. At the same time, you can buy bonds of this scheme from some banks in the country.

Two can people named investments in KVP scheme of post office you can also choose from the names of two people. But a person investing in it should be at least above 18 years of age. If understood in simple terms, this scheme may include one adult and one minor.

Investment remains locked for 30 months – Investment made in KVP scheme remains locked for at least two and a half years. You cannot redeem this investment for 30 months. At the same time, your investment in this scheme doubles in 10 years and 4 months with an annual interest of 6.9 percent.

There is no relief in income tax on investing in it – if you want to invest for income tax saving then investing in it will not be right. You do not get the benefit of income tax exemption by investing in this scheme. On the other hand, if you want to withdraw interest on it periodically during the maturity period, then you will not be able to do so by investing in this scheme.

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