Post Office Scheme : This scheme of Post Office will guarantee double your money, you can start investing with just Rs 1000

If you are additionally one of these traders who wish to spend money on schemes with secure and assured returns, then you should maintain the Post Office Kisan Vikas Patra Scheme in your portfolio. It returns your cash double in 115 months.

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Any individual begins investing in any scheme after seeing the revenue. Some individuals are able to take dangers within the pursuit of revenue, whereas some folks wish to spend money on a spot the place their funding is totally secure they usually get assured income.

If you are additionally one of these traders who wish to spend money on schemes with secure and assured returns, then you should maintain a publish workplace scheme in your portfolio. We are speaking about Post Office Kisan Vikas Patra, it is a scheme which provides assured double return on your funding. Know all the advantages of this scheme.

Your cash will double in 115 months

Post Office’s Kisan Vikas Patra Scheme ensures doubling of funding to any investor in 115 months. At current, this scheme affords 7.5 % compound curiosity yearly. The good factor is that on this scheme an individual can start investing with even Rs 1000 and there’s no restrict on the utmost funding. Apart from this, any quantity of accounts can be opened underneath this scheme.

Who can open an account

Hearing the title Kisan Vikas Patra, plainly this scheme has been made just for farmers. Actually, this scheme was began in 1988, when its goal was to double the funding of farmers, however now it has been opened to everybody. Now any grownup individual can open a single or joint account. Apart from this, a toddler above 10 years of age can take Kisan Vikas Patra in his/her title.

A guardian can open an account on behalf of a minor or an individual of unsound thoughts. While opening an account, paperwork like Aadhar card, age certificates, passport measurement {photograph}, KVP utility type and so forth. could also be required. NRI just isn’t eligible for this scheme.

What are the principles if you need to withdraw the quantity earlier than 115 months?
Premature withdrawal can be executed after 2 years and 6 months from the date of deposit in KVP account. However, some situations apply to this, that are as follows:-

• In case of KVP holder or joint account, on loss of life of all or any the account holders
• On seizure by the mortgagee in case of Gazette Officer
• on court docket order

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