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Post Office Superhit Scheme: Invest ‘1 Lakh’, Get ‘2 Lakh’ Back! Details Here
- •Invest 1 lakh rupees in Kisan Vikas Patra (KVP) and receive 2 lakh rupees upon maturity.
- •KVP is a popular Post Office small savings scheme ideal for long-term lump sum investments.
- •Currently, KVP offers an annual interest rate of 7.5% with a maturity period of 115 months (9 years and 7 months).
- •Investments start from 1000 rupees with no upper limit, open to citizens aged 10 and above.
- •The scheme allows account transfer, use as loan collateral, and premature closure under specific conditions.
Key Questions Answered
The government has kept the annual interest rate for the Kisan Vikas Patra (KVP) scheme unchanged at 7.5% for the quarter. The maturity period for KVP is set at 115 months, which equals 9 years and 7 months, during which the invested lump sum doubles.
Any citizen of the country aged 10 years or older can invest in the scheme, either individually or jointly. Investments can be started with a minimum amount of just 1,000 rupees, and there is no upper limit for maximum investment.
Generally, KVP has a lock-in period matching its maturity term and cannot be closed prematurely. However, premature closure is allowed under special circumstances such as the death of the account holder, a court order, or the forfeiture of KVP pledged with an authorized officer.
