Post Office Kisan Vikas Patra Scheme, KVP Interest Rate 2023 Calculator: Savings schemes emerge as a risk-free alternative, assuring not only the full return of the invested amount upon maturity but also the provision of attractive interest rates.
These schemes, being government-backed, tend to attract risk-averse investors who seek a secure haven for their substantial financial assets. Furthermore, financial experts consistently advocate diversifying investments across various asset classes as a strategic approach to both wealth accumulation and risk mitigation, particularly during periods of market volatility.
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Kisan Vikas Patra is one such scheme which is highly popular among investors who wish to double their investment in a government-backed scheme. Let us discuss each and every aspect of the scheme, in case you wish to open the account.
Post Office Kisan Vikas Patra Scheme 2023
Kisan Vikas Patra Scheme is a post office savings certificate scheme backed by the government of India. The scheme is designed to double your money. Investors with large sum of money can park their funds in this scheme for the long-term which provides attractive rate of interest. Kisan Vikas Patra Yojana is available for investment in all post offices and big banks of the country.
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Post Office Kisan Vikas Patra Scheme Interest Rate 2023 October
Post office scheme KVP interest rate for Oct-Dec 2023 is 7.5 per cent which is compounded annually.
Post Office Kisan Vikas Patra Scheme Calculator To Double Your Money
The amount invested in KVP doubles in 115 months (9 years & 7 months). Take for example, if you invested Rs 10 lakh in Kisan Vikas Patra, you will get exactly Rs 20 lakh in 115 months with total interest of Rs 10 lakh.
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Kisan Vikas Patra Scheme 2023: Minimum and Maximum limit
You can start investing in KVP with a minimum investment of Rs 1000 and in multiple of Rs 100 while there is no maximum limit.
As per information on Post Office website, the account can be opened by a single person or 3 adults together who wish to open a joint account. Nominee facility is also available in this. Children above 10 years of age can open KVP account in their own name. A guardian can open an account on behalf of a minor or a person of unsound mind.
Kisan Vikas Patra Scheme 2023: Premature Closure
Kisan Vikas Patra can be prematurely closed any time before maturity after 2 years and 6 months from the date of deposit.
