Kisan Vikas Patra Interest Rates KVP gets this much interest, know now in how many days the money will double : The Central Government’s Kisan Vikas Patra Scheme (Post Office Kisan Vikas Patra Scheme) is being operated by the post office across the country. Government of India is operating nine small savings schemes, in which Kisan Vikas Patra (KVP) is very much liked by the people. In this scheme (Post Office KVP Scheme), investors get good returns in the long term!
Kisan Vikas Patra Interest Rates
Kisan Vikas Patra Interest Rates
Explain that Kisan Vikas Patra Yojana (Post Office Kisan Vikas Patra Scheme) can be purchased by one person or jointly by maximum 3 people. Apart from this, a minor above the age of 10 years is also eligible to buy this bond. You can buy Kisan Vikas Bond (KVP) from any post office across the country.
The post office runs many schemes on which the Government of India gives very high interest to the people. If we talk about Kisan Vikas Patra Yojana (Post Office Kisan Vikas Patra Scheme), then this is the most famous scheme of the post office, which is very much liked by the customers. At present, people are being given interest on KVP at the rate of 6.9 percent (KVP Interest Rate). In this, you can deposit Rs 1.5 lakh in 1 year. Under this scheme (Post Office KVP Scheme), you are also given all kinds of tax exemption. Through this plan, your money doubles in 124 months.
information of interest
The interest rate of the Post Office Kisan Vikas Patra Scheme, run by the Indian Postal Department, is decided by the Union Ministry of Finance on a quarterly basis. Currently, customers are given interest at the rate of 6.9%. The amount you invest in this scheme (Post Office KVP Scheme) will double in 10 years 4 months.
Let us tell you that you will have to invest at least 1000 rupees in the Kisan Vikas Patra Yojana (Post Office Kisan Vikas Patra Scheme). No maximum limit has been given in this. You can invest as much as you want. You can withdraw money from this bond after two and a half years of buying it from the post office!
Kisan Vikas Patra (Post Office Kisan Vikas Patra Scheme) will be issued to the customers in the form of passbook. You can get this form from any post office. The Certificate (KVP) can be transferred from one person to another and also from one post office branch of the Indian Postal Department to another. Apart from this, you can easily transfer this bond from one person’s name to another person’s name.
Customer can transfer Kisan Vikas Patra Bond Account (Post Office Kisan Vikas Patra Scheme) from one post office to another post office. Bonds can be paid after 30 months from the date of issue. The interest rate will continue to accrue through maturity until the final payment is made.
Documents required to get Kisan Vikas Patra Certificate
To get the Post Office Kisan Vikas Patra Scheme of the Indian Postal Department, the applicant has to keep a copy of the following documents:-
- Identity proof such as Aadhaar Card, Voter ID, PAN, Passport and Driving License for the process of KYC.
- Complete filling of the KVP Application Form.
- date of birth certificate
- address proof
How to apply for Kisan Vikas Patra Recruitment?
If a person wants to invest in the Indian Postal Department’s Kisan Vikas Patra Scheme (Post Office Kisan Vikas Patra Scheme), then he can start saving by submitting his identity and address documents by going to his nearest post office.
The only disadvantage of this scheme (Post Office KVP Scheme) is that the income received under Kisan Vikas Patra (KVP) is taxable. Income earned through this bond will be treated as income from other sources and taxed thereon. Investors in National Savings Bond schemes are taxable under Section 80C of the Income Tax Act up to Rs 1.5 lakh per year.
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