Kisan vikas patra: Many people are looking for such investment options which give reliable returns in a long time amid growing domestic expenses and declining savings. One such option is Kisan Vikas Patra, KVP. This government scheme is run through the post office. The investment amount in this doubles in about 115 months i.e. 9 years 7 months. For example, if you invest ₹ 8,000, you will get ₹ 16,000 on maturity.
What is a farmer development letter?
The Kisan Vikas Patra was started in 1988. Its purpose is to promote long-term investment especially in semi-urban and rural areas. It is considered one of the safest investment options.
Investment amount and interest
This means that your investment will increase from year to year, because interest is added to the principal every year and the next year also attracts interest. However, the thing to keep in mind is that the government can change the interest rate in this quarter.
How to apply for Kisan Vikas Patra?
Required documents
How does the farmer development letter work?
Now suppose you invest a lump sum of ₹ 5,000. This will cost a fixed interest rate, which will be added to your investment annually. At the end of 115 months, your investment of ₹ 5,000 will become around ₹ 10,000.
Experts believe that the Kisan Vikas Patra is a reliable option for long -term safe investment. It not only gives certain returns, but also gives investors a chance of financial stability and better cash flow management.