Investing in a post office scheme proves to be extremely beneficial. An investor can earn big bucks after investing in a post office. If you want to invest without risk, then you can invest in the post office ‘Kisan Vikas Patra’ scheme.
The money deposited in this scheme doubles upon maturity with the guarantee. However, this money doubles in a fixed period. There are certain conditions for investment in this ski. The minimum investment in this is 1000 rupees. No maximum investment limit. Especially this plan was first made for the farmers, but later it was started for everyone.
Currently, its maturity period is 124 months. The government has fixed its interest rate at 6.9 per cent till the second quarter of 2021 i.e. 30 September. How long the money will double depends on the interest rate.
Talk about the eligibility conditions for this policy, it is mandatory to be at least 18 years of age to invest in this policy. Investors should be Indian citizens.
Apart from a single account, a joint account is also available. Certificates of Rs 1000, Rs 5000, Rs 10,000, and up to Rs 50,000 are issued in this scheme. There is no maximum investment limit. If you invest in this scheme today, you will be given a double amount after the coming 124 months.