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Double Your Money with This Post Office Scheme; Start Investing with Just Rs 1000

Post Office Kisan Vikas Patra offers guaranteed returns, doubling your investment in 115 months with a low entry requirement of just Rs. 1000.

Updated on: 24 March, 2024 11:21 AM IST By: Saurabh Shukla
This Post Office Scheme Will Double Your Money in Just 115 Months, Know the Features, Eligibility, Interest Rates & More

When it comes to investing, people's search of profit frequently takes them down many routes, each with a different degree of risk. While some succeed on the excitement of high-risk ventures, others seek the security of investments with guaranteed returns. For those inclined towards the latter, the Post Office Kisan Vikas Patra (KVP) is an opportunity for stable finances, with guaranteed returns on investment. Let's know about the benefits and features of this scheme.

What is Kisan Vikas Patra (KVP)

India Post introduced the Kisan Vikas Patra (KVP) in 1988 as a small saving certificate scheme with the aim of promoting long-term financial discipline. Originally intended for farmers, it now offers to all individuals seeking secure savings options. The scheme's tenure was recently extended to 115 months.

KVP: Double Your Money in 115 Months

One of the most attractive aspects of the KVP scheme is its promise of doubling investments within a span of 115 months. Currently offering a compound interest rate of 7.5 percent annually, this scheme ensures steady growth of funds over time. With investments starting at just Rs. 1000, the low entry barrier further increases the accessibility feature.

Features of KVP

1. Accessibility: The Post Office Kisan Vikas Patra is open to a wide range of investors, including:

  • Single adults

  • Joint account holders (up to 3 adults)

  • Guardians on behalf of minors or individuals of unsound mind

  • Minors above 10 years opening accounts in their own name

2. Deposit Investors can start with a minimum deposit of Rs. 1000, with no maximum limit imposed. Additionally, there's the flexibility of opening multiple accounts under the scheme, catering to diverse investment needs.


KVP Eligibility Criteria

To invest in the Kisan Vikas Patra (KVP) scheme, individuals must meet the following criteria:

  • Indian citizenship.

  • Minimum age of 18 years.

  • Excludes Hindu Undivided Families (HUFs) and Non-Resident Indians (NRIs).

Who Can Open KVP Account?

Contrary to its name, the Kisan Vikas Patra scheme is not exclusive to farmers. While initially with the aim of doubling farmers' investments, it has since evolved to welcome investors from all walks of life. Any adult, whether single or joint account holders, can partake in this scheme. Moreover, minors above the age of 10 can also avail themselves of the benefits by opening accounts in their name. Guardians are empowered to initiate accounts on behalf of minors or individuals with unsound minds.

Essential documents such as Aadhar card, age certificate, passport size photograph, and KVP application form may be required during the account opening process.

Premature Withdrawal Rules

While the KVP scheme encourages long-term investment, it also recognizes the need for flexibility. Investors have the option of premature withdrawal after 2 years and 6 months from the date of deposit. However, certain conditions must be met, including:

  • In the event of the death of a single account holder or any/all account holders in a joint account

  • Forfeiture by a Gazette officer acting as a pledgee

  • Court-mandated withdrawals

Post Office Kisan Vikas Patra emerges as a reliable avenue for investors seeking secure and guaranteed returns. With its accessible entry requirements, attractive interest rates, and flexible withdrawal options, it serves as an opportunity in any investor's portfolio, ensuring financial stability and growth in the long run.

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