Post Office Schemes: It makes real sense to invest your hard-earned money in the right place. In today’s era, when there is an atmosphere of uncertainty in the stock market and there is a fear of losing money, then every common man is looking for an option where his money is not only safe but he also gets solid profits.
If you also want guaranteed returns by staying away from the ups and downs of the market, then the Kisan Vikas Patra (KVP) scheme of the post office can prove to be the most reliable partner for you.
Starting from just Rs 1000
Any citizen of the country can start investing in this post office scheme with a small amount of just Rs 1000. There is no limit on maximum investment in this. Any Indian citizen above 18 years of age can easily open an account by visiting his nearest post office.
Freedom to withdraw money as per need
The biggest concern while investing is that the money may not get stuck for a long time. Kisan Vikas Patra gives relief to investors in this matter also. At present the government is offering an attractive annual interest of 7.5 percent on this scheme, which is better than many bank FDs.
Although this is a long-term plan, full care has been taken of liquidity. There may be a sudden need for money at any time in life. The rule for such a situation is that you can withdraw your money prematurely after 30 months (two and a half years) from the date of investment.
The amount will double in 115 months
This scheme of the post office works as per its name. If we look at the current interest rate of 7.5%, the amount deposited in this scheme doubles in 115 months, i.e. 9 years and 7 months. Suppose you invest Rs 5 lakh today keeping in mind your retirement or children’s higher education. There is no need to keep an eye on the market or take advice from any expert. Exactly after 115 months, the post office will hand over the amount of Rs 10 lakh to you. This is the safest and most straightforward way to double your capital without any risk. For those who do not like to take risk, this scheme is no less than a boon.