Savings Scheme: Currently 6.9% pastime is being obtained in this financial savings Scheme of the put up office. This hobby price is greater than the fee handy on FDs of many banks in the country.
Post Office Scheme: Post workplace schemes have continually been viewed a correct choice for investment. Your cash is definitely secure in these schemes. There is additionally a proper return available. Today we are going to inform you about a comparable scheme of the put up office, in which you can get extra pastime than FDs of many banks if you invest.
This scheme of the publish workplace is Kisan Vikas Patra (KVP) Savings Scheme. It is presently getting 6.9% interest. This pastime fee is greater than the hobby price handy on FDs of many banks in the country. Let us inform you that many huge banks of the u . s . are giving activity ranging from 5 to 6% on FD.
Highlights of the scheme
Under the scheme, a type of certificates is reachable which is issued to it like a bond.
Interest is earned on it at a constant rate.
At present, hobby of 9% is being given on this.
It can be bought from any put up workplace in the country.
How a good deal can you invest
There is no most restriction to invest in KVP.
Minimum funding ought to be Rs 1000.
Any quantity can be invested in multiples of Rs 100.
Account can be transferred
One of the specialties of this scheme is that in this one character can switch the certificates of the scheme to every other person.
Account switch can additionally be achieved from one put up workplace to every other publish office.
Single and Joint account facility
Single or joint account can be opened below this scheme.
The age of the account opener need to be at least 18 years.
A minor can additionally open an account, however, it will have to be supervised through his parents.
lockin period
The design has a lock-in duration of two and a 1/2 years.
This potential that you can’t withdraw cash for two and a half of years.
In what time does cash double?
According to the modern-day pastime charge of 6.9 percent, your cash will double in about 10 years four months (124 months).
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