Many people these days place a high priority on money safety. Although the revenue is a bit low .. Most people expect the loss will not come. For those who value investment safety above all else, this is the right investment option. Kisan Vikas document with the same government guarantee.
Kisan Vikas Patra is a small savings scheme. In this you can double your money by making savings. The scheme is being offered in the form of a certificate through the Indian Post Offices. This is a fixed rate savings plan. By investing in this scheme .. your money will be doubled in 124 months (i.e. 10 years 4 months).
At present Kisan Vikas Patra offers a compound interest rate of 6.9 per cent. Under this scheme at least Rs. 1000 can be invested. After that the investment can be increased to Rs.100 denomination. Another uniqueness of this is that there is no maximum limit for investment in this scheme.
How to open an account .. Under this scheme .. Guardians on behalf of any adult or minor i.e. parents can open an account. After the minor reaches the age of 10, the account will be transferred to his name. Apart from this .. there is also the option of three people opening a joint account simultaneously.
To open an account under the Kisan Vikas Document Scheme, Aadhar Card, Residential Proof, KVP Application Form, Age Certificate, Passport Size Photo and the person’s mobile number are required. Customers can go to the nearest post office and purchase the Kisan Vikas document. KVP certificates can also be purchased by cash, check, pay order or demand draft.
How to transfer Kisan Vikas document .. Customers can transfer their Kisan Vikas document account from one branch of the post office to another branch. KVP can also be transferred from one to another. It also has a nominee facility. Kisan Vikas documents can be purchased from any post office in the country.
According to the rules .. Interest earned on Kisan Vikas documents is taxable. This income is taxed under Income from Other Sources. The investor has two options on this interest. The first is a ‘cash basis’ tax while the other is a tax on annual interest income. Those who want to get income without any risk of loss can invest their money in it.