So let us tell you today regarding a comparative plan, where your cash will be protected as well as you will get double profit from Maturity. This is the Kisan Vikas Patra (KVP) plan of the Post Office.
Kisan Vikas Patra is a one time investment plan of the Government of India, where your cash is multiplied in a proper period. Kisan Vikas Patra is available in all the Post offices and large banks of the country. Its maturity period is at present 124 months. The minimum interest in this is Rs 1000.
There is no restriction on maximum investment. This arrangement has been made for unique farmers, so they can set aside their cash for quite a while. Allow me to tell you every little thing about it
Who can Invest?
The minimum age of the individual putting resources into Kisan Vikas Patra (KVP) is 18 years. Aside from the single account, there is likewise the facility of joint account in this. Simultaneously, this plan is likewise accessible for minors, which must be taken care of by the guardians.
This plan is additionally appropriate for Trusts with the exception of Hindu Undivided Family for example HUF or NRI. There are declarations up to Rs 1000, Rs 5000, Rs 10,000 and Rs 50,000 for putting resources into Kisan Vikas Patra (KVP), which can be bought.
Pace of interest
The financing cost for KVP in the main quarter of FY 2021 has been fixed at 6.9 percent. Here your speculation will twofold in 124 months. In the event that you put Rs 1 lakh in single amount, you will get Rs 2 lakh on maturity. This plan has a maturity time of 124 months. This plan doesn’t go under the Income Tax Act 80C. Consequently, anything return comes, it will be burdened. TDS isn’t deducted in this plan.
Transfer facility is also accessible
Kisan Vikas Patra can be encashed following more than a long time from the date of issue. KVP can likewise be moved starting with one post office then onto the next post office. Kisan Vikas Patra can be moved starting with one individual then onto the next. Nomination Facility is accessible in KVP. Kisan Vikas Patra is given as passbook.
Documents needed
To put resources into this plan, you really want Aadhar Card, PAN Card, Voter ID Card, Driving License, Passport, KVP Application Form, Address Proof and Birth Certificate.
