New Delhi: Investment options can give you long-term benefits if you choose wisely. Individuals who believe in investing in traditional tools should keep long-term goals in mind. One such traditional investment option is post office savings plans.
These programs are green and are a great way for those who want to make big money in traditional investment ways. Since the post office program is government-sponsored, they prove to be beneficial to investors with zero risk appetite and want a guaranteed return on their investment.
Kisan Vikas Bhadra (KVP) is a post office savings scheme that pays double your investment as it matures.
Maturity period and interest rates of Kisan Vikas Bhadra
From April 01, investors will be offered an annual interest rate of 6.9 percent. The amount you invest in Kisan Vikas Bhadra doubles in 124 months (10 years and 4 months).
Kisan Vikas Bhadra’s account limit
You have no minimum limit to invest in Kisan Vikas Bhadra at a minimum of Rs.1000 and Rs.100 times.
Kisan Vikas Bhadra certificate can be purchased by:
(i) An adult
(ii) Joint Account (Maximum 3 Adults)
(ii) Joint B Account (maximum 3 adults)
(iv) Minor over 10 years of age
(i) An adult on behalf of a minor.
(ii) A guardian on behalf of a mentally ill person
Kisan Vikas Bhadra is published in the form of a passbook. This can be purchased at any departmental post office. Appointment facility is also available. The KVP certificate can be transferred from one person to another and from one post office to another. Can be attached 2 & 1/2 years after the date of issue of the certificate.