You can start investing from ₹ 1000, the amount doubles on maturity, isn’t it an amazing scheme?

New Delhi. Everyone wants to invest their hard earned money in a place where they will not only get good returns but also their capital will be fully protected. Keeping in view the needs of risk-averse and small investors, the government is running many small savings schemes (Best Small Savings Scheme). One such large micro savings scheme is Kisan Vikasputra. It is a good investment option for those looking for long-term investment. Currently Kisan Vikasputra (Kisan Vikasputra Interest Rate) is being given an interest rate of 7.5%. This means if you invest in this scheme, your money will double in 115 months i.e. 9 years and 7 months.

Kisan Vikasputra can be purchased for ten years. It has a minimum investment of Rs 1,000. There is no maximum investment limit. This means that you can invest in it openly. It is a safe method of investment and is not subject to market risks. You will get guaranteed profits despite the fluctuations of the market.

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Who can invest?
A person investing in Kisan Vikas Putra should be at least 18 years of age. Apart from single account, joint account facility is also available. Also, this scheme is also available for minors, who have to be supervised by a guardian. This scheme is applicable for Hindu Undivided Family i.e. HUF or Trust as well as NRI. To invest in it, there are certificates of Rs 1000, Rs 5000, Rs 10,000 and Rs 50,000, which can be purchased.

One Time Investment Scheme
Kisan Vikasputra is a time investment scheme of the Government of India, where your money doubles over a fixed period of time. You can buy Kisan Vikas Patra from all post offices and major banks in the country. Nomination facility is available while purchasing certificate. If you have not nominated at the time of purchase of KVP certificate, you can nominate at any time before maturity.

Are tax benefits available?
On investing in Kisan Vikas Putra, you have to pay tax on the interest income. Whereas under Section 80C of the Income Tax Act, you do not get any tax benefit on the amount deposited in this scheme.

Tags: investment tips, Farmer Vikas Putra, Money making tips, Small savings schemes