The Post Office offers several savings schemes for its customers, including one where your money doubles upon maturity. We will tell you about a Post Office scheme where you can deposit 2 lakh and receive a fixed interest of 2 lakh.
The Post Office’s Kisan Vikas Patra (KVP) is a savings scheme where your money doubles. Whatever amount you invest in this scheme, it doubles. The KVP scheme involves a lump-sum investment and currently offers an attractive interest rate of 7.5 percent. According to this rate, this Post Office scheme matures in 115 months, which is 9 years and 7 months, and doubles your investment. You can open an account in the Kisan Vikas Patra scheme with as little as Rs 1000.
If you deposit 2 lakh in the Post Office’s KVP scheme, you will receive a total of 4 lakh upon maturity, including a fixed interest of 2 lakh. There is no maximum investment limit in this Post Office scheme. This scheme offers guaranteed fixed returns. Both single and joint accounts can be opened in this scheme. A maximum of three people can be added to a joint account.
