Almost everyone wants to invest their money in a place where they can get good and safe returns. In such a situation, someone makes an FD i.e. fixed deposit of his money, while someone invests his money in some property, etc. Not only this, apart from this there are many other types of schemes where people invest. On the other hand, the government also runs many schemes for this, where you can invest. For example, take the Post Office Scheme. There is one such scheme where you can double your money by investing. So let us know about this scheme without any delay. You can learn about this in the next slides...
This is the scheme
The name of this scheme is Kisan Vikas Patra Yojana and it is a scheme run in the post office, which you can also avail. It is giving interest of 7.5 percent.
You can invest like this
If you want to invest in this scheme, you can do it with one thousand rupees. Along with one thousand rupees, you can also invest in multiples of Rs 100. Apart from this, you can also open a KVP account in the name of a child above 10 years of age.
At the same time, there is no limit on maximum investment in this scheme. In such a situation, it is easy to invest in it. On the other hand, you can also invest in this scheme by opening a joint account.
This is the benefit you get
In this scheme, the money is doubled, for which you will have to invest for 9 years and 7 months. Understand it this way, if you invest one lakh rupees in the scheme for 115 months, then it doubles i.e. two lakh rupees. Similarly, you can get double the profit by increasing the amount.
According to the information given on the official portal of the post office, the interest on the amount invested in this scheme is calculated based on compounding. This means that you also get interest on interest in it.
(PC: iStock)
