Kisan Vikas Partra (KVP): There are many individuals going about responsibilities, who are making arrangements for investment. In any case, they stop since they are at risk for sinking their cash. If you are also one of them, you can put resources into the Kisan Vikas Patra Scheme (KVP) of the Post Office.
Kisan Vikas Patra (KVP) scheme is best for long term investment. Your saved cash in this will be totally protected 100% of the time. Likewise, KVV claims its clients to double the sum saved under this plan in 10 years and 4 months (124 months).Let us tell you about this post office scheme.
What is Kisan Vikas Patra Scheme?
The span of this plan is 124 months for example 10 years 4 months.If you have put resources into this plan from first April 2021 to 30th June 2021, then,the single amount sum deposited by you doubles in 10 years and 4 months. On Kisan Vikas Patra, you get a yearly self multiplying dividends of 6.9%. (Post Office Savings Scheme) Investment is made as authentication in Kisan Vikas Patra (KVP). There are authentications up to Rs 1000, Rs 5000, Rs 10,000 and Rs 50,000 which can be bought.
Who can open an account in KVP
Under this, any Indian individual whose age is beyond 18 years can open his account in it. In any case, there could be no upper age limit for opening a account. Be that as it may, under this, KVP endorsement can likewise be bought for the sake of a minor. NRI isn’t qualified for this plan.
Investment limit in Kisan Vikas Patra
You can purchase Kisan Vikas Patra Certificate with a minimum investment of Rs 1,000, there is no maximum investment limit in this plan, that is, you can put away as much cash as you need in this plan. This plan was begun in 1988, then, at that point, its goal was to double the investment of farmers, yet presently it has been opened to all. Presently one might say that Kisan Vikas Patra doesn’t has anything to do with farmers as of now.
PAN Aadhaar must be given to open an account
With no investment limit, there is additionally the danger of tax evasion, so the government made PAN card obligatory in 2014 for investments above Rs 50,000.If you contribute 10 lakhs or more, salary proof will likewise must be submitted, for example, ITR, pay slip and bank explanation. Aside from this, Aadhaar is likewise to be given as an identity card.
