Kisan Growth Patra: In right this moment’s time, many funding choices have come available in the market, however there may be nonetheless a big inhabitants within the nation, preferring to put money into financial institution, publish workplace or LIC schemes.
Right now we’re telling you about such a scheme of publish workplace, by investing in which you’ll double your cash quickly. The title of this scheme is Kisan Vikas Patra. On April 1, 2023, the rate of interest out there beneath this scheme was elevated by the central authorities from 7.2 p.c to 7.4 p.c. After the rise within the rate of interest, now the quantity deposited beneath this scheme might be doubled quickly. We’re telling you in regards to the particulars of this scheme.
Learn about Kisan Vikas Patra
Kisan Vikas Patra Yojana is a lump sum deposit scheme run by the Central Authorities. On this scheme, the investor can get double the quantity in a hard and fast interval by investing the quantity at one go. Beneath this scheme, you’ll be able to open an account by going to any publish workplace. This scheme is specifically designed for the agricultural inhabitants. On this, you’ll be able to make investments a minimal of Rs 1,000 and a most of any lump sum quantity.
Cash will double presently
After the federal government’s determination to extend the rate of interest of Kisan Vikas Patra Yojana in April 2023, now the interval for doubling the deposits beneath this scheme has been lowered. The place earlier it used to take 120 months to double, now the cash beneath Kisan Vikas Patra will double in simply 115 months. When you make investments Rs 10 lakh within the scheme, then after 115 months you’re going to get an quantity of Rs 20 lakh on maturity. Beneath this scheme, the federal government offers the good thing about a compound rate of interest.
Who can open the account?
When you open an account in any publish workplace beneath Kisan Vikas Patra, then you’ll be able to make investments a minimal of Rs.1000. And the utmost quantity that may be invested is in multiples of Rs.100. Two or three folks can open the account collectively or collectively beneath this scheme. Beneath this scheme, the account of kids above 10 years of age could be opened beneath KVP.