There are lot of ads circulating in the print media and digital media that “Investors will get Double The Investments if they invested with them”. Though there are few companies offering “Guaranteed Returns”(Mutual Fund firms assumes past performance with future returns)most of these advertisements are trying to lure investors. There are companies like “Agrigold, Sahara” which cheats the investors by offering “guaranteed returns”.
Investors should remind that there is a “Risk” element attached to such dubious offers where the investors should do proper research before investing.
Do you know that- “Your Investment Would get Doubled, That Too With Government Security?”. Yes you heard right!. There is a saving instrument named “Kisan Vikas Patra“(KVP)
Who are eligible to open Kisan Vikas Patra?
- He must be a resident Indian
- Maximum 3 Joint holders can open this a/c
- Children above 10 years can open this a/c. but there should be a guardian/parent to look after this a/c till the child attains majority(18 Years of age)
- There is an option to appoint “Nominee” for this a/c
Documents Required To Open Kisan Vikas Patra– Any of the
- Aadhar Card
- Pan Card
- Voter Id
- Driving Licence
Minimum Investment Required To Open Kisan Vikas Patra
- Minimum amount required is 1000 rupees
- There is no maximum ceiling(can invest any amount, there is no limit)
- Kisan Vikas Patra interest rate is decided by the government for every 3 Months
- Current Interest Rate applicable for the quarter october-december 2021 is 6.9% per annum and is subject to change up on decision by the government every quarter
- Interest rate is fixed at the time of opening of kisan vikas patra even though the interest rates alter later
Kisan Vikas Patra Features–
- The investors amount would “Double” exactly in 124 months(10 Years,4 Months)as per the current interest rate of 6.9%
- This is purely a government backed instrument with no “Risk” element.
- Your investment would surely “Double” in 124 Months
- This product is suitable for risk averse investors and wanted guaranteed returns
So if you want to “Double Your Money” with no risk, consider “Kisan Vikas Patra”. This is a good choice to you