Government Schemes

Kisan Vikas Patra Yojana

If you are thinking of making a safe investment in the future, you can invest in one of the Post Office Savings Schemes, ‘Kisan Vikas Letter’. Not only will you get better returns on these projects, but your investment will also be safer. The Kisan Vikas letter (KVP) is included in the Post Office’s small savings plans. Here is the full information on this project.

What is the Kisan Vikas letter?
The Postal Department’s ‘Kisan Vikas Letter’ is a type of savings scheme where the investor’s money can be matched in 10 years and 2 months. It is one of the central government-backed small savings schemes and the central government has not been changing the interest rate of these small savings schemes.

The Kisan Development Letter Plan provides investors with guaranteed returns. Your investment can be made in 124 months (10 years and 2 months). Here are more details on this.

What is the interest rate?
Annual Percentage of Kisan Development Letter Project 6.9 Interest received. At least Rs. Money needs to be invested. First, there was 7.6 per cent interest. But now interest is a little lower. But there is no maximum limit for money investing.

What is eligible for money investing?
Any Indian citizen can invest in this scheme. Must be at least 18 years old. A joint account can be opened if he is a minor. A person can buy several Kisan Vikas letters. The deed can be secured by a receipt at the relevant post office and mortgaged as security. Can be transferred from one post office to another. Trusts can also invest. However, non-resident Indians cannot invest in it.

Amount of investment
You can invest at least Rs. 1000 in this government project. In this scheme, you will need to invest in multiples of Rs. There is no maximum limit for investment in this project.

Who can open an account?
Adults can open an account in the post office Kisan Vikas letter. In addition, three adults can open a joint account in this project. In the Kisan Vikas letter, a parent can open a parent account on behalf of a minor or a weak-minded person. In this scheme, a minor over the age of 10 can open an account in his own name.

Secure investment
The Kisan Development Letter is the safest tool for investment. Market fluctuations are not affected by this. Get guaranteed income when it expires. But it does not cover the Section 80C deduction of the Income Tax Act. This means that you will be eligible for income tax. There is no exception. However, the original tax deduction (TDS) is exempt. Anyone who has to invest money to save income tax should take note of this.

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