Kisan Vikas Patra (KVP) Scheme: A Better Investment Option Than FD
Fixed Deposits (FD) have been a preferred investment option for most Indians for a long time. However, there are many government investment and savings schemes that offer higher interest rates than FDs. These schemes are operated by the post office and provide better benefits to investors.
One such scheme is the Kisan Vikas Patra (KVP) scheme. Here’s everything you need to know about the KVP scheme:
What is Kisan Vikas Patra?
Kisan Vikas Patra is a fixed rate small savings scheme offered by the post office. The scheme has a fixed limit time of 115 months. If you invest in this scheme for the entire period, your investment will double. You can invest in this scheme by visiting any post office in India.
Interest Rate in Kisan Vikas Patra
The Kisan Vikas Patra scheme offers an interest rate of 7.5 percent per annum, which is higher than most FDs. You can open an account by investing just Rs.1000, and there is no maximum limit for investing in this scheme. The scheme also offers the benefit of compound interest.
Who can invest in Kisan Vikas Patra?
Although this post office scheme is specially designed for farmers, anyone can invest in it. The KVP scheme is a great investment option for those looking for a safe and secure investment with good returns.
Conclusion
In conclusion, the KVP scheme is a better investment option than FDs as it offers higher interest rates and the benefit of compound interest. You can visit any post office in India to invest in this scheme. So, if you are looking for a safe and secure investment option, consider investing in KVP scheme.
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