Double Your Investment In Post Office Saving Scheme : Interest Rate 6.9%

Double Your Investment In Post Office Saving Scheme : Interest Rate 6.9%

Indian Post Office provides investors with various investment options and all available schemes offer guarantee returns because they have the backing of government of India. As the schemes are government backed, the safety and security is also quite high. Tax exemption under section 80C is yet another big benefit that investors can receive for many schemes available under post office saving schemes. Today we will discuss about Kisan Vikas Patra

Double Your Investment In Post Office Saving Scheme

Interest Rate

In Kisan Vikas Patra saving scheme, the interest rate is 6.9% compounded annually. The amount invested doubles in 124 months or 10 years 4 months, according to the website of Indian Post.

Minimum Amount for opening of account and maximum balance that can be retained: Investors can deposit a minimum of Rs. 1000/- and in multiples of Rs. 100/-. There is no maximum limit.

Who can open a KVP Account?

The investors should be aware of who can open the account. Below are the details:

  • A single adult
  • Joint Account (up to 3 adults)
  • A guardian on behalf of minor or on behalf of person of unsound mind
  • A minor above 10 years in his own name.

Maturity

The deposit will mature on the maturity period prescribed by the Ministry of Finance from time to time as applicable on the date of deposit. Kisan Vikas Patra (KVP) can be prematurely closed any time before maturity subject to the following conditions given below:

  • On the death of a single account, or any or all the account holders in a joint account
  • On forfeiture by a pledgee being a Gazette officer.
  • When order by court.
  • After 2 years and 6 months from the date of deposit.

Transfer of account from one person to another

KVP can be transferred from one person to another person on the following conditions only given below:

  • On the death of account holder to nominee/legal heirs.
  • On the death of account holder to joint holder(s).
  • On order by the court.
  • On pledging of account to the specified authority.

For investment related articles, business news and mutual fund advise

Source: https://www.goodreturns.in/personal-finance/investment/post-office-saving-scheme-double-your-investment-in-this-scheme-interest-rate-6-9-1253452.html

नोट :- हमारे वेबसाइट www.indiangovtscheme.com पर ऐसी जानकारी रोजाना आती रहती है, तो आप ऐसी ही सरकारी योजनाओं की जानकारी पाने के लिए हमारे वेबसाइट www.indiangovtscheme.com से जुड़े रहे।

*****

Comments

This week popular schemes

ISRO NAVIC GPS App Download : Indian Regional Navigation Satellite System (IRNSS)

प्रधानमंत्री ग्रामीण आवास योजना लाभार्थी सूची 2021 Pradhan Mantri Gramin Awas Yojana List 2021

प्रधानमंत्री आवास योजना ग्रामीण सूची। ऐसे देखे लिस्ट में अपना नाम ?

Booking of Air tickets by Central Government employees for LTC purpose by three Government owned firms viz. Balmer Lawrie, Ashoka Travels and IRCTC

Booster Dose of Covid Vaccine कोविड वैक्सीन की बूस्टर खुराक

Interest Subsidy Scheme on Educational Loans शिक्षा ऋणों पर ब्याज राजसहायता योजना

Online Application for various post on Deputation basis Apply 05/08/2022

Telangana 2BHK Housing Scheme Application Form PDF Download Online

Apply Online for State Health Card in Uttar Pradesh under UP SECTS Scheme

Vacant Posts of Teachers प्राथमिक, माध्यमिक और उच्च शिक्षा संस्थान में अध्यापकों के रिक्त पद