It takes a lot of time to save hard and thick earning of hard work. In such a situation, you should invest your money at the right place for better returns. It is often seen that people invest their savings in some place which is quite risky. There are many investment options in the market, but investing in government schemes is considered the safest.
The central government runs the ‘Kisan Vikas Patra’ scheme through the post office. In this scheme the investor is given a guaranteed double return. The government-run scheme does not even bother to drown money. Actually it is a long-term investment plan. It receives money in the form of interest by investing it outright.
Presently, double returns are being given for 124 months in this scheme. Currently, 6.9 percent interest rate is applicable under this scheme. Talk about the terms and features of this scheme, in addition to a single account, it also has the facility of a joint account.
Any Indian citizen can invest a minimum of 1000 rupees while the maximum can be invested. The investor’s age should be at least 18 years. Certificates of Rs 1000, Rs 5000, Rs 10,000 and up to Rs 50,000 are issued.
If you invest 1 lakh rupees in this scheme today, then after the coming 124 months you will get 2 lakh rupees in return. That is, you will get about 1 lakh rupees in the form of interest. Although this is a long-term investment, you will get this benefit only after a long wait (about 10 years).