Your money will be double in 10 years, this post office scheme with amazing government guarantee is amazing

Everyone wants their money to be doubled as soon as possible, but at the same time wishes that there will be complete security of the money deposited. The duration of this scheme is 124 months i.e. 10 years 4 months.

Everyone wants their money to be doubled as soon as possible, but at the same time wishes that there will be complete security of the money deposited. If you have a higher risk appetite, then you invest in equities, such as mutual funds, but if you are looking for a safe and zero risk investment then post office saving schemes can be a better option. Especially if you are thinking of making long term investment, then the post office Kisan Vikas Patra (KVP) scheme may be the best option.

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Kisan Vikas Patra is a one-time investment scheme of the Government of India, where your money doubles in a given period. Kisan Vikas Patra is present in all post offices and big banks of the country. Its maturity period is still 124 months. The minimum investment in this is 1000 rupees. There is no maximum investment limit. Government guarantee is available on post office schemes, that is, there is no risk at all.

What is Kisan Vikas Patra (KVP)

The duration of this scheme is 124 months i.e. 10 years 4 months. If you have invested in this scheme from 1 April 2020 to 30 June 2020, the lump sum amount deposited on your behalf doubles in 10 years and 4 months. On Kisan Vikas Patra, you get compound interest of 6.9% per annum. Kisan Vikas Patra (KVP) invests as a certificate. There are certificates up to 1000 rupees, 5000 rupees, 10,000 rupees and 50,000 rupees, which can be purchased.

You can invest as much as you want

You can buy Kisan Vikas Patra Certificate with a minimum investment of Rs 1,000, there is no maximum investment limit in this scheme, that is, you can add money to this scheme as much as you want. The scheme was started in 1988, when it was intended to double the investment of farmers, but now it has been opened to all. Now it can be said that the Kisan Vikas Patra has nothing to do with the farmers at the moment.

Have to provide PAN and Aadhaar

There is also a risk of money laundering because there is no investment limit, so in 2014, the government made PAN card mandatory for investments above Rs 50,000. If you invest 10 lakh or more, then income proof will also have to be deposited, such as ITR, salary slip and bank statement. Apart from this, Aadhaar has to be given as an identity card.

Can buy three ways

1. Single Holder Type Certificate: This type of certificate is purchased for yourself or for a minor.
2. Joint A Account Certificate: It is issued jointly to two adults. Both holders are paid, or who are alive
3. Joint B Account Certificate: It is issued jointly to two adults. Either pays or is alive

Features of Kisan Vikas Patra

1. Guaranteed returns are available on this scheme, it has nothing to do with the ups and downs of the market, hence it is a very safe means of investment. You get the full amount after the end of the period
2. There is no tax exemption under Section 80C of Income Tax. Return on it is fully taxable. There is no tax on withdrawals after maturity.
3. On maturity, that is, after 124 months you can withdraw the amount, but its lock-in period is 30 months. Before this you cannot withdraw money from the scheme, provided the account holder dies or a court order.
4. It can be invested in denominations of 1000, 5000, 10000, 50000
5. You can also take a loan by keeping the Kisan Vikas Patra as collateral or as security.

Interest on Kisan Vikas Patra
October-December quarter
Year interest

FY17 7.8%
FY18 7.6%
FY19 7.3%
FY20 7.7%
FY21 6.9%

How to open account?

You can open an account by going to any post office and filling the form. The form can also be downloaded online.
The full name, date of birth and address of the nominee should be written on the form.
The amount of purchase amount should be clearly written in the form.
The amount of KVP form can be paid through check or cash.
If you are paying through check, write the check number information on the form.
Explain in the form KVP single or joint ‘A’ or joint ‘B’ membership, on what basis is being purchased.
Write the names of both the beneficiaries on joint purchase.
When the beneficiary is a minor, write the date of birth (DOB), name of the parents.
On submitting the form, a farmer development certificate will be given along with the beneficiary’s name, maturity date and maturity amount.

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