INSUBCONTINENT EXCLUSIVE:
Money invested in a Kisan Vikas Patra 2018 account doubles in nine years and four months
Kisan
Vikas Patra (KVP) is one among nine small savings schemes offered by India Post
Investment in KVP at present fetches a return of 7.7 per cent
Interest on money deposited in the KVP account is compounded on an annual basis
The annual return of 7.7 per cent on the KVP small savings scheme is applicable for the quarter ending December 31, 2018, according to India
Post's website - indiapost.gov.in
Money invested in Kisan Vikas Patra doubles in a period of 112 months (nine years and four months), according to India Post, which has a
network of more than 1.5 lakh post offices in the country
Here are 10 things you need to know before invest in Kisan Vikas Patra 2018 in a post office:Minimum balance needed: A Kisan
Vikas Patra account can be opened in a post office against a minimum of Rs 1,000
The investor can pick any amount in multiples of Rs 1,000 to invest in Kisan Vikas Patra, according to the India Post website.Maximum
balance permitted: India Post has no upper limit on the amount that can be invested in a Kisan Vikas Patra (KVP) account.Who can open a
Kisan Vikas Patra account Kisan Vikas Patra certificates can be purchased in three modes: by an adult for self, on behalf of a minor by an
That means the investment can be made singly or jointly.Where to invest in Kisan Vikas Patra KVP certificates can be purchased from any
departmental post office, according to India Post.Nomination: The KVP account supports a nomination facility, and can be transferred between
two persons or post offices.The Kisan Vikas Patra certificate can be encashed after a period of two and a half years from the date of issue,
according to the post office website.Interest rates applicable to Kisan Vikas Patra and other small savings schemes are revised by the
government on a quarterly basis.Earlier this year, the government hiked the interest rate on Kisan Vikas Patra by 0.4 per cent, and reduced
its maturity period by six months.In other words, money parked in Kisan Vikas Patra is doubled on maturity, which is nine years and four
months away from the date of investment.The interest on KVP is calculated on an annual basis, just like small savings schemes such as Public
Provident Fund (PPF), National Savings Certificate (NSC) and Sukanya Samriddhi.For the latest News Live Updates on Election Results from
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