Representational image.
Kisan Vikas Patra is yet another public investment scheme that double the money in a limited amount of time. Just like FDs, Kisan Vikas Patra is also a beneficial and traditional system of investments. Kisan Vikas Patra is also called Post Office Savings Schemes and give better interest over regular FDs.
Benefits of Kisan Vikas Patra
- Amount invested in Kisan Vikas Patra gets doubled in 10 years 4 months times.
- Investors are being given an interest of 6.7 per cent compounded annually.
- The minimum amount one can invest in Kisan Vikas Patra is Rs 1000.
- No upper limit of investments in Kisan Vikas Patra.
Who can invest in Kisan Vikas Patra
- Minor above 10 years of age
- a single adult
- Joint A Account (Maximum 3 adults)
- Joint B Account (Maximum 3 adults)
- An adult on behalf of a minor
- A guardian on behalf of a person of unsound mind
