If you are a person who likes secure investment and guaranteed returns, then you can invest in the post office. Many types of schemes are run in the post office on which you are given better interest. One of these schemes is Kisan Vikas Patra. This is a very old scheme. In this scheme, the government guarantees investors to double their amount. Meaning if you are investing Rs 10 lakh, then you are sure to get Rs 20 lakh on maturity. Let us tell you the important things related to this scheme.

In how much time will the money double?

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

Who can open an account?

The Kisan Vikas Patra scheme was started in 1988, then its purpose was to double the investment of farmers, but now it has been opened for all. Now any adult person can open a single or joint account in it. 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 an account, documents like an Aadhar card, age certificate, passport-size photograph, KVP application form, etc. may be required. NRI is not eligible for this scheme.

Which documents are required while opening an account?

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 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 seizure by the mortgagee

On the order of the court