KVP Rates Hike: Want to double your money in a few months, invest in this scheme of Post Office

KVP Rates Hike : If you want to find a good scheme to invest money, then Post Office Kisan Vikas Patra Yojana (Post Office Kisan Vikas Patra) can be a better option for you! The government has increased the interest rates of some small savings schemes for the July to September quarter. This is also one of those plans. After the rule of the central government, now only 7.5% interest rate is being given on KVP.

KVP Rates Hike

Everyone is looking for the best scheme for investing their money. Post Office Kisan Vikas Patra (Post Office Kisan Vikas Patra) can end your search! This KVP scheme can prove to be very beneficial for you! If you invest under this KVP scheme then your money can double in 115 months!

Post Office Kisan Vikas Patra

After the changes made in the rules of the government, from April 1, people investing in KVP will be able to double their amount in 115 months due to 120 months. Earlier, under this Post Office Kisan Vikas Patra, the investor used to get an interest rate of 7.20%, after the new change, now the interest rate will be 7.50%.

You can also invest in less money : KVP Rates Hike

The most important thing about the Post Office Kisan Vikas Patra scheme is that you can join this scheme by investing only 1000 and then invest in multiples of 100! The best thing about this KVP scheme is that there is no maximum investment limit fixed in it. Under this scheme, you can open single and joint account. Along with this, the investor is also getting the facility of nominee.

Is there any tax exemption in KVP

KVP scheme does not come under Income Tax Act 80C. Therefore, any return received in this will have to be taxed! Although TDS is not deducted in this scheme. If you invest more than Rs 50,000 in Post Office Kisan Vikas Patra, then you will have to share your PAN card information. You can also take a loan as a guarantee by using the Kisan Vikas Patra scheme.

Who can open Post Office Kisan Vikas Patra Account

Under this KVP scheme, any person above the age of 10 years can open an account. However, the account has to be updated under the supervision of an adult till the age of 18 years. At the same time, a person above 18 years of age can open an account alone with two or three people. Post Office Kisan Vikas Patra (Post Office Kisan Vikas Patra) will give a new dawn to your future!

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