Post Office Scheme: Money doubles in 115 months, government guarantees… This is a superhit scheme of Post Office

People often plan to invest in safe schemes so that they can get more money in the long term and also get the benefit of interest, income tax etc. Today we are telling you about a scheme which will also give the benefit of interest and your invested amount will double. This scheme is linked to the post office. This scheme of Post Office gives you guaranteed income. Also, the risk is also negligible because this scheme is run by the government.

This scheme of the post office is Kisan Vikas Patra (KVP). Currently, under this scheme, interest is being given at the rate of 7.5 percent per annum. Kisan Vikas Patra is a lump sum investment scheme run by the Government of India, under which interest is revised on a quarterly basis. In this scheme, you can double the money within a fixed period. You can open an account through the post office to invest in this scheme.

The money will double in 115 months
Under the Kisan Vikas Patra Yojana (KVP) of the post office, the minimum investment can be Rs 1000. However, if you want to invest more, you can invest as much money as you want. This scheme gives a return at the rate of 7.5 percent per annum. Last year in April 2023, its interest rates were increased from 7.2 percent to 7.5 percent. Earlier it used to take 120 months for the money to double in this scheme, but now the money will double in just 115 months i.e. 9 years and 7 months.

6 lakh will become 12 lakh rupees
If you invest Rs 6 lakh in this scheme, then at the rate of 7.5 percent per annum, Rs 6 lakh will become Rs 12 lakh. According to the calculation, you will have to wait for 115 months for the money to double. That means your money will double in 9 years and 7 months. On the other hand, if you invest Rs 7 lakh in lump sum, then this amount will become Rs 14 lakh in this period.

Can we also open a joint account?
If you want to open an account under this scheme, then Kisan Vikas Patra account can be opened in single or joint. Under this scheme of post office, three people can open a joint account together. However, adding a nominee is mandatory under this scheme. If you want, you can also close this account after 2 years and 6 months.