Post Office Scheme: This scheme with 100% security and 0% risk will double your money guaranteed, you can start investing from ₹ 1,000..

In today's time, there are many investment options from the stock market to various government schemes. People who want to get strong returns and do not hesitate to take any kind of risk for this, try their luck in the market. At the same time, there are some investors who compromise on returns but do not want to put their investments at any risk.

For such investors, the government runs many schemes with 100% security. You get the options of these schemes with 0% risk at both banks and post offices. Here we will tell you about one such scheme of Post Office which guarantees to double your amount.

In how much time will the money double?

We are talking about the Post Office scheme Kisan Vikas Patra. The Kisan Vikas Patra scheme guarantees any investor to double the investment in 115 months (9 years, 7 months). Currently, this scheme is getting interest at the rate of 7.5%. Interest is calculated on an annual basis.

You can start investing from Rs 1,000

Any person can start investing in the scheme with Rs 1000 and there is no maximum investment limit. Apart from this, any number of accounts can be opened under this scheme. While opening an account, documents like an Aadhaar card, age certificate, passport-size photograph, KVP application form, etc. may be required.

Who can open an account?

Any adult person can open a single or joint account in KVP. Apart from this, a child above 10 years of age can take Kisan Vikas Patra in his name. Guardians can open an account on behalf of a minor or a person of unsound mind. While opening the account, documents like an Aadhar card, age certificate, passport-size photograph, KVP application form, etc. may be required. NRIs are not eligible for this scheme.

If you want to make a premature withdrawal…

Premature withdrawal can be done after 2 years and 6 months from the date of depositing the KVP account. However, the pre-mature deposit can be made anytime in some special circumstances such as.

In the case of a KVP holder or joint account, on the death of one or all the account holders

In the case of the gazette officer, on confiscation by the mortgagee

On the order of the court

Disclaimer: This content has been sourced and edited from ZEE Business Hindi. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.